Why not a United Asset Management for consultants?
Robert A. DiMeo, managing director at DiMeo Schneider & Associates LLC, Chicago, said he and other principals at his firm are kicking around an idea of creating a type of "United Consultants."
Founders of a lot of consulting firms "are in their 50s," Mr. DiMeo said. "What are they ultimately going to do," he asked, to liquefy their investments in their consulting firms. "Do they sell to individuals working within the firm or do they sell to another entity?
"We have an idea of a UAM model for consultants," he said, although he cautions the UAM model in money management might have problems in maintaining performance and retaining key people.
"It's an idea that has conceptual appeal.
"Boutique consulting firms might want to find a way to liquefy."
The idea, still in its infancy, could become part of DiMeo Schneider's long-range business plan.
But he stresses his firm's main focus is on its own clients.
DiMeo Schneider itself is in the growth phase of business development. It plans to expand its professional staff, now 13, by adding two consultants. It is interviewing candidates now. Plus, it is moving soon to larger office space nearby in the city's Loop.
The firm has 100 corporate pension fund and 401(k) clients. Adding also endowment, foundation and family trust clients, its clientele has some $3.5 billion in assets.
