Creative Planning Caps Acquisition Spree With Nearly $2B in Added AUM
Registered investment adviser Creative Planning closed out the year with a wave of consolidation and strong growth, announcing two acquisitions in early December. These deals –Burt Wealth Advisors and Marshall Financial Group – have collectively added $1.9 billion in assets under management to the firm. The purchases were the 14th and 15th acquisitions for the Kansas-based firm in the last two years.
The financial terms of the transactions were not disclosed.
Announced Dec. 2, the acquisition of North Bethesda, Md.-based Burt Wealth Advisors added $1 billion in AUM. Burt Wealth specializes in customized financial planning services, including tax reduction strategies, education funding, and retirement planning.
Fred Cornelius, president of Burt Wealth, and Maria Cornelius, executive vice president, noted in a joint statement that joining Creative Planning provides their clients access to a full suite of services while retaining the personal touch that has defined their firm.
Just one week later, Creative Planning announced the acquisition of Marshall Financial Group, an established RIA in Doylestown, Pa. This deal added more than $900 million in AUM and 13 employees to the Creative Planning team. Marshall Financial brings a 50-year history of helping clients with wealth management, offering comprehensive integrated financial planning that covers investment, risk management, and tax minimization.
“We’re proud to join Creative Planning,” said Paula Nangle, president and senior wealth adviser for Marshall Financial. “Both companies share the same values, culture and personalized approach to client service. Additionally, we’re excited about the broad suite of services and capabilities Creative Planning can offer our current and future clients.”
Creative Planning’s Peter Mallouk, president and chief executive officer, emphasized the importance of cultural alignment across both transactions. He praised Marshall Financial’s “impeccable reputation” and “extensive experience.” Regarding Burt Wealth, Mallouk stated he was “thrilled to have [them] join Creative Planning” because their decades of experience and commitment to clients align perfectly with Creative Planning’s values and vision for the future.
Earlier this fall, Creative Planning entered into a definitive agreement to acquire SageView Advisory Group, significantly expand Creative Planning’s footprint in the retirement sector, more than doubling its retirement plan advisory business.
Click here to visit the AltsWire directory page.
