Curi, an advisory agency serving physicians and medical practices by way of three separate companies—Curi Advisory, Curi Insurance coverage and Curi Capital—has agreed to amass a majority stake in RMB Capital, a Chicago-based registered funding advisory agency overseeing greater than $9.6 billion in consumer property, round two-thirds of that are registered below administration.
As a part of the deal, anticipated to shut by year-end, Curi Capital, an RIA with roughly $1.6 billion in property—together with $1.4 billion below administration—will merge with RMB, changing into Curi RMB Capital.
RMB founding companion and CEO Dick Burridge will transfer into the position as govt chairman of the brand new entity and stay as co-chief funding officer. Curi Capital CEO Dimitri Eliopoulos—who spent almost 15 years with RMB following its inception in 2005, serving as president of wealth administration earlier than taking the CEO place at Curi Capital in early 2020—will proceed as CEO on the mixed agency.
The remainder of the RMB and Curi Capital management groups will stay unchanged.
“Returning to work with so many unbelievable colleagues and pals who’ve formed my strategy to folks, tradition and consumer service, is a dream and an honor,” Eliopoulos stated in an announcement. “This merger units us as much as be a strong group with an skilled and passionate management workforce, and a clearly differentiated providing for our purchasers.”
Curi RMB Capital might be based mostly in Chicago, whereas Curi Capital’s present Raleigh headquarters will function a Southeast hub. All workers of each corporations—roughly 180—might be retained and extra hires are anticipated within the coming yr.
In addition to bringing collectively corporations with appropriate values, cultures and management, the mixture is predicted to bolster funding capabilities and create geographic synergies with the bigger Curi ecosystem, based on the corporate.
“We’re effectively positioned, now nationally and with differentiated healthcare and monetary providers experience, to fulfill and serve our purchasers throughout all of their wants,” stated Curi CEO Jason Sandner.
“In slightly below 4 years, Dimitri has overseen unbelievable progress whereas constructing a client-centric, values-driven tradition,” Burridge stated. “This mix will allow a seamless transition into an thrilling new period for our agency. That is an energizing new chapter, however one firmly rooted in our historical past.”
Curi, with greater than $2 billion of consolidated property and almost $400 million in income, presently serves over 50,000 physicians, healthcare suppliers and organizations throughout the US. Curi Capital supplies wealth and funding administration, in addition to retirement plan advisory providers, for round 475 households, 30 companies and a handful of philanthropic organizations.
RMB supplies wealth constructing and household workplace providers, along with wealth and asset administration and retirement plan recommendation, for greater than 2,300 households, 36 charities, 15 funding firms or automobiles and fewer than 5 retirement plans.
RMB has extra places of work in Denver; Jackson Gap, Wyo.; Lake Forest, Unwell.; Milwaukee; Minneapolis; Oakbrook Terrace, Unwell.; St. Joseph, Mich.; and Washington D.C.
