Cherry Bekaert Sells Off Wealth Management Arm, Enters Strategic Partnership With Acquiring Firm

Richmond, Va.-based IPA 100 firm Cherry Bekaert (FY22 net revenue of $293 million) is entering into a strategic partnership with Chicago-based investment adviser Choreo LLC and selling its wealth management entity, Cherry Bekaert Wealth Management (CBWM), to the firm. Beyond the transaction, the goal of the ongoing relationship between the firms is to combine resources and align go-to-market and acquisition opportunities.

“We look forward to our strategic relationship with Choreo and are excited to facilitate growth that will create new opportunities for our professionals and their clients,” says Cherry Bekaert CEO Michelle Thompson.

“Both of our firms live at the intersection of wealth, financial, tax and estate planning,” adds Choreo CEO Larry Miles. “Together we believe we can do an even better job of choreographing our clients’ lives.”

 

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