Choreo, an independent RIA, has agreed to acquire substantially all the assets of Northeast Financial Group and Herbein Financial Group in a dual transaction expected to bring an additional $1.3 billion to its platform.
Both firms are based in eastern Pennsylvania, with headquarters in Allentown and Reading, respectively.
Herbein Financial Group was created over two years ago through a joint venture between Northeast Financial Group, a wealth management firm, and Herbein LLP, an accounting firm.
“Northeast Financial Group and Herbein Financial Group are strong advisory businesses with deep roots in Pennsylvania,” Choreo CEO Jason Van de Loo said in a statement. “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.”
Josh Laychock heads both Northeast Financial Group and Herbein Financial Group. Upon closing the transaction, Choreo will welcome 12 full-time employees led by Laychock, including six financial advisors.
“Business owners are navigating a more complex planning environment, with tax policy uncertainty, changing markets and higher expectations for integrated advice,” Laychock said. “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.”
The deal, subject to typical closing conditions, is expected to close later this year.
Choreo currently serves more than 7,000 clients with about $27.2 billion in assets under management and advisement.
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