DiMeo Schneider Business Update
January 22, 2020
DiMeo Schneider & Associates L.L.C. and Fiduciary Investment Advisors LLC (“FIA”) are excited to announce that they intend to combine their firms into one integrated operation. Sharing key values and common operating principles, the two firms have a longstanding relationship. Clients will receive the same services delivered by their current professionals but with greater depth of resources and an expanded presence. Both firms have deep alignment in core values, culture, investment philosophy and a focus on high touch client service.
DiMeo Schneider and FIA are respected and growth oriented organizations. The firms have a history of partnership in collaborating on business and client initiatives for many years. With the central goal of helping clients prosper and delivering the same high quality service without disruption, the combination is intended to provide the following benefits:
– Enhanced research capabilities
– Improved operational infrastructure
– Expanded geographic footprint
– Increased growth opportunities for employees
Bob DiMeo, Managing Partner of DiMeo Schneider, and FIA’s President Mark Wetzel have known each other for decades as friends and business confidants. The combined firm will be managed by leadership from both organizations with Bob DiMeo as CEO, Mark Wetzel as President and a blend of partners and senior professionals serving on the executive committee and in other leadership roles.
All equity partners at DiMeo Schneider and FIA will be equity partners in the combined firm and employees will remain in their current rolesi. The firm will have offices in seven locations, serve clients in 47 states, and advise on approximately $180 billion of client assets (as of September 30, 2019). DiMeo Schneider and FIA have served the same client types for years – retirement plans, endowments/foundations and private clients – and will continue to do so.
DiMeo Schneider has maintained a 20-year relationship with NFP, a privately held and leading insurance brokerage and consulting firm. NFP will facilitate the transaction to combine our firms and will retain a similar ownership structure in the combined operations going forward. NFP has no discretion or influence over investment recommendations to clients.
DiMeo Schneider and FIA leaders are excited about the opportunity to work together to continue to support our many valued clients.
This is an exciting milestone for our firm. DiMeo Schneider has an exemplary culture and commitment to clients. This combination is consistent with FIA’s history of seizing opportunities that elevate the value we deliver to our clients.
– Mark Wetzel, FIA’s President
We have great respect for what Mark and his team have built, their approach to the business, and how they serve clients. We look forward to learning from each other, working together to enhance opportunities for our employees and clients, and increasing our ability to help current and future clients prosper.
– Bob DiMeo, DiMeo Schneider’s Managing Partner
Timing: The transaction is expected to close during the second quarter of 2020, subject to satisfaction of customary closing conditions. DiMeo Schneider & Associates L.L.C. will add the moniker Fiduciary Investment Advisors to signify the collaborative nature of the combined organizations and to further emphasize our ethical and fiduciary responsibility in collectively serving clients.
Additional Information: Please contact your investment professional or Jenna Friedman, Director of Marketing at DiMeo Schneider.
iMaureen Cooper, FIA’s Chief Operating Officer, will continue with her planned 2020 retirement after assisting with the transition and will not be an equity partner in the combined entity.
Information intended as representative illustrations of combined capabilities of DiMeo Schneider & Associates L.L.C. and Fiduciary Investment Advisors LLC.
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