Illinois-based Choreo, a financial planning, investment advisory services and other wealth management services company, recently agreed to purchase the assets of Allentown-based Northeast Financial Group and Reading-based Herbein Financial Group, registered investment advisers with $1.3 billion in combined client assets.
“Northeast Financial Group and Herbein Financial Group are strong advisory businesses with deep roots in Pennsylvania,” Jason Van de Loo, Choreo CEO, said. “We’re excited about our agreement and look forward to welcoming their teams to Choreo upon closing. They share our focus on business builders and the real-world planning work that comes with running a company, building wealth and preparing for what’s next. Together, we’ll be able to bring clients more depth, coordination and support without losing the local relationships that matter.”
“Joining Choreo will give our team added scale, broader capabilities and a platform built to deliver coordinated planning without losing the client-first culture we value,” Josh Laychock, Northeast Financial Group and Herbein Financial Group head, said.
After closing, 12 full-time employees, including six financial advisors, will become Choreo employees.
Herbein Financial Group was created through a joint venture between Northeast Financial Group and accounting firm Herbein LLP.
Choreo operates out of more than 40 locations nationwide and serves more than 7,000 clients with approximately $27.2 billion in assets under management and advisement.