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Erik Merkau, the former head of strategy and execution at Edelman Financial Engines, has joined Choreo, the registered investment advisor created in 2022 when private equity group Parthenon Capital lifted out the wealth management business of accounting firm RSM, as chief wealth advisory officer.
Merkau will report to CEO Jason Van de Loo and take responsibility for advisor development and execution across the firm. He has been tasked with expanding its advanced planning capabilities, portfolio management solutions, practice management tools and integrated private client services platform.
“Erik joins Choreo at a pivotal time as we continue to evolve our advisor model to reflect the real-world complexity facing builders—closely held business owners and families who depend on thoughtful, integrated advice,” Van de Loo said in a statement.
Merkau is the latest executive to join Choreo from Edelman. In July, Van de Loo, the former head of wealth management at Edelman Financial Engines, replaced Larry Miles as CEO. Miles transitioned into the executive vice president of strategic partnerships role, a newly created position.
In late July, Choreo brought on Keith Kotfica, a former senior vice president and head of employee planning at Edelman, as chief growth officer. Kotfica was tasked with helping Miles expand the Choreo Partner Alliance, the firm’s flagship CPA partner program.
In October, Choreo, which had about $27.2 billion in assets under management and advisement as of December 2024, added Michael Rittershaus as chief service officer, a newly created position. He was a former senior vice president of wealth planning service and operations at Edelman.
AlTi Tiedemann Names New Co-Head of Wealth Planning
AlTi Tiedemann Global, a publicly traded international wealth management and alternative investments company with $89 billion in assets, has named Brittany Cook as co-head of the firm’s wealth planning team.
Cook, who was serving as managing director, wealth planner and fiduciary counsel at Tiedemann Trust Company, will direct the team alongside Jim Bertles, its existing leader.
She is an estate planning and tax attorney, focused on complex wealth transfer strategies, trust structures and planning for families and business owners. She’s been with Tiedemann Trust Company since 2017.
About three years ago, CEO Michael Tiedemann merged his New York-based RIA and alternative asset management firms, Tiedemann Group and TIG Advisors, with London-based asset manager, merchant bank and global multi-family office Alvarium Investments and took them public via a special purpose acquisition company.
The firm recently said it was exploring strategic options to sell the company, and has hired J.P. Morgan Securities as its advisor.
SEI Promotes From Within For Chief Product Officer Role
SEI has named Jeff Benfield as its new chief product officer, reporting to CTO Zach Womack. Benfield was previously serving as head of platform strategy and operations for SEI’s asset management business.
In the new role, he’ll lead SEI’s enterprise product strategy, development and execution.
He has been with the company since 2014, taking on a strategy, transformation and product management role for the company’s global Private Banking business. Before joining, he held product management and program management roles at Vanguard, BNY Mellon Pershing/Albridge and AXA Advisors.
Last summer, SEI said it was taking a controlling stake in Stratos Wealth Holdings, the umbrella firm for a network of RIA and broker/dealer managing about $37 billion in client assets and 360 advisors.
LPL Has a New Board Member
Somesh Khanna, a senior advisor at McKinsey & Co., has been elected to LPL Financial’s board of directors.
Khanna brings more than three decades of experience in consulting and financial services. In addition to his role at McKinsey, he also serves as executive co-chair of Apexon, a technology services firm specializing in AI, data and digital solutions.
He has been with McKinsey since 1998, where he co-led the global banking and securities practice, among other leadership roles.
“Somesh brings extensive experience to the LPL board that directly applies to the firm’s strong growth trajectory,” Jim Putnam, chair of the LPL board of directors, said in a statement. “His expertise in digital transformation, AI and data-driven strategic planning will be invaluable as we continue to innovate and meet the evolving needs of financial advisors, institutions and their clients.”
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