Choreo, an investment advisory services provider based in the US, has concluded the deal to purchase Enso Wealth Management (Enso) for an undisclosed sum.

With headquarters in Petaluma, California, Enso is currently said to have around $1.8bn in assets under management. The firm caters to more than 1,900 families.

The newly closed deal, which was announced in November last year, represents Choreo’s second acquisition since its introduction as an independent entity last year.

It expands the firm’s footprint in Northern California and Nevada as well as raises its assets under management or advisement to nearly $14.5bn.

A team of 13 advisors and nine support staff from Enso have joined Choreo, while Enso co-founder and president Jim DeCota became managing director, as part of the acquisition.

It will carry on delivering personalised investment advice to clients via the firm’s comprehensive portfolio management service.

The team will also continue to provide its clients with general investment solutions using its financial planning and consulting and pension consulting tools.

The latest development comes close on the heels of Choreo completing the takeover of Cherry Bekaert Wealth Management. The acquisition helps Choreo to add around $1bn in assets under management and advisement into its portfolio.

Choreo CEO Larry Miles said: “The acquisition of Enso greatly strengthens our ability to provide clients with a wide array of planning and advisory services.

“In addition, Enso’s commitment to translating wealth into fulfilment for clients, while creating a supportive environment for enterprising financial advisors, fits perfectly with the culture we have developed at Choreo.”