Choreo, a Chicago-based RIA overseeing more than $24 billion for more than 7,200 households and almost 100 institutional investors, has tapped the CIO of a recent acquisition to lead an expanded investment team.
A CFA based in Columbia, Md., Matthew Gotlin joined Choreo from BDO USA when Choreo acquired its wealth management business and more than $8 billion in client assets in the fall. He will lead a research and investment team focused on creating tax-efficient strategies with access to public and private markets.
According to Choreo CEO Larry Miles, Gotlin stood out as “the ideal person” to lead the expanded team during the process of integrating the 33-person BDO team.
"His experience as both a wealth manager and investment strategist, combined with his dedication to providing the highest level of analytical research, will prove invaluable to our advisor and client community, helping them to better understand emerging investment trends in both the public and private markets,” he said in a statement.
Prior to joining BDO, where he also held the title of managing director, Gotlin directed research for Biegel & Waller, a Washington, D.C. firm managing around $500 million. Before that, he co-founded a private equity firm focused on lower middle market opportunities called March Capital.
"I believe we will drive significant value for Choreo clients by delivering solutions that will help advisors navigate the public market while helping boost the firm's capabilities within the private market arena," Gotlin said.
The news follows a number of other key talent moves at Choreo. Last week, the firm announced it added two business development officers, a vice president of advisory and a vice president of CPA partnerships to its senior leadership team.
Choreo partners with CPA firms in four ways through its Choreo Partner Alliance program: sharing real estate, sharing revenue, providing education to the CPA firm’s employees and giving them an equity stake in the RIA. Acquired firms may take advantage of some or all components.
Choreo was created in 2022 when private equity group Parthenon Capital lifted out the wealth management business of accounting firm RSM. The firm did its first deal that November, when it acquired $1.8 billion Enso Wealth Management in California and announced two more before the end of the year that added another $1.275 billion. The BDO USA acquisition was its fourth.
Serving more than 7,000 households and almost 100 institutional investors, Choreo now comprises 225 employees, including 129 advisors, working from 47 offices around the country.
"By expanding our investment research capabilities under Matt's leadership, we further solidify our position as a technology-enabled wealth management firm rooted in sound financial and tax planning principles,” said Miles.
