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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 belongings, round two-thirds of that are registered underneath administration.
As a part of the deal, anticipated to shut by year-end, Curi Capital, an RIA with roughly $1.6 billion in belongings—together with $1.4 billion underneath administration—will merge with RMB, turning into Curi RMB Capital.
RMB founding associate 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 practically 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 unimaginable colleagues and pals who’ve formed my strategy to folks, tradition and consumer service, is a dream and an honor,” Eliopoulos stated in a press release. “This merger units us as much as be a robust group with an skilled and passionate management crew, and a clearly differentiated providing for our shoppers.”
Curi RMB Capital might be based mostly in Chicago, whereas Curi Capital’s present Raleigh headquarters will function a Southeast hub. All staff of each corporations—roughly 180—might be retained and extra hires are anticipated within the coming 12 months.
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, in keeping with the corporate.
“We’re nicely positioned, now nationally and with differentiated healthcare and monetary companies experience, to fulfill and serve our shoppers throughout all of their wants,” stated Curi CEO Jason Sandner.
“In just below 4 years, Dimitri has overseen unimaginable development whereas constructing a client-centric, values-driven tradition,” Burridge stated. “This mixture 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 belongings and practically $400 million in income, presently serves over 50,000 physicians, healthcare suppliers and organizations throughout the US. Curi Capital gives wealth and funding administration, in addition to retirement plan advisory companies, for round 475 households, 30 companies and a handful of philanthropic organizations.
RMB gives wealth constructing and household workplace companies, along with wealth and asset administration and retirement plan recommendation, for greater than 2,300 households, 36 charities, 15 funding firms or autos and fewer than 5 retirement plans.
RMB has further workplaces in Denver; Jackson Gap, Wyo.; Lake Forest, Ailing.; Milwaukee; Minneapolis; Oakbrook Terrace, Ailing.; St. Joseph, Mich.; and Washington D.C.
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