Profiles

$25bn Choreo sues Compound-bound breakaway

Lilly Riddle / Mar 06, 2025
The Chicago RIA giant has sued a $1.2bn breakaway team that left for New York City-based Compound Planning earlier this week.
Choreo has sued one of its former advisory teams — a $1.2bn four-person operation based in Des Moines, Iowa — for allegedly breaching its employment contracts, according to a complaint filed Wednesday in US District Court for the Southern District of Iowa.
The advisors, whose departure from Choreo to $3bn New York-based Compound Planning was announced Tuesday, were alleged by Choreo to have breached the client non-solicitation and non-service obligations of their contracts. The complaint seeks injunctive relief and damages from advisors Kevin Lors, Aaron Schomer, Joleen Scheer and Lindsey O’Neil, who were lead wealth managers at Choreo’s Des Moines office.
Choreo’s complaint alleges that when the four advisors simultaneously resigned on February 27, effectively gutting Choreo’s Des Moines office, they breached their employment agreements by jumping to a competitor.
It also alleges — in part because of a press release put out by Compound that referenced the team’s $1.2bn in assets — that the...
CITYWIRE RIA
More News
To read the full article, become an RIA Insider. You'll also gain complimentary access to news, insights, tools and more.
REGISTER NOW
Already an Insider?Log In
All content on this page is drawn from unaffiliated publications. Content on this site is not intended to provide, and should not be interpreted as legal, tax, investment or insurance advice, or recommendations by any party. Capital Client Group, Inc. is not responsible for content created by third parties and they do not explicitly or implicitly endorse or approve such content. Copyrights are held by the individual publications to which each article is attributed.