Choreo

Choreo operates on a centralized investment committee model with local advisor discretion within model portfolios. The firm builds core and satellite allocations across equities, fixed income, alternatives, and structured products, then permits acquired offices to overlay tax-transition and concentrated-stock strategies for individual clients. Portfolio construction leadership sits at the Rockford headquarters.

Choreo sources primarily through its CPA-partner network inherited from RSM lineage and through Parthenon Capital's pipeline. The firm targets advisory practices with $200 million to $2 billion in assets where the founder wants to offload the wealth management line while retaining the accounting practice — a carve-out that competitors without CPA integration rarely pursue.

Choreo is a multi-family-office-styled wealth management aggregator, not a single family office. The firm serves roughly two thousand high-net-worth families, business owners and corporate executives through acquired RIA offices. Its Parthenon backing places it in the private-equity-backed RIA consolidator category alongside firms like Mercer Advisors and Hightower.

Choreo deploys client capital through separately managed accounts, model portfolios composed of third-party ETFs and mutual funds, and access to alternative investments including private credit and real estate vehicles. The firm does not operate proprietary commingled funds; instead it selects third-party managers for alts exposure through its broker-dealer platform.

Choreo was the wealth management unit of RSM US — the fifth-largest accounting firm in the United States — until Parthenon Capital acquired a majority stake and spun it out as a standalone entity in 2021. RSM retained a minority interest and a referral agreement that feeds tax-client referrals into Choreo's advisory network.

Choreo acts as a feeder into third-party alternative funds rather than a direct co-investor in operating companies or real assets. The firm provides clients access to private equity, private credit and real estate through sub-advisory relationships and fund vehicles, not by writing checks alongside GPs into specific deals.

Choreo's client base consists largely of first-generation wealth creators — business owners exiting mid-market companies, professional-services partners, and corporate executives. Tax-event liquidity (business sales, partnership buyouts, concentrated stock unwinds) drives a substantial share of new client assets onto the platform each year.