Creative Planning to Acquire Retirement-Focused SageView Advisory Group

Registered investment adviser Creative Planning has reportedly agreed to acquire SageView Advisory Group for an undisclosed amount. Assuming the acquisition goes through, the deal will expand Creative Planning’s footprint in the retirement sector.

Creative Planning, an Overland Park, Kan.-based RIA, has more than $370 billion in assets. SageView is a retirement-focused RIA with an estimated $235 billion in both assets under management and assets under advisement as of the end of 2024.

Originally reported by Wealth Management, sources close to the firms confirmed the agreement, though both Creative Planning chief executive officer Peter Mallouk and SageView founder Randy Long declined to comment on the transaction.

This acquisition highlights a growing trend in the financial industry: the convergence of retirement and wealth management services.

Since being acquired by private equity firm Aquiline Capital Partners in January 2021, SageView has been strategically expanding its wealth management capabilities alongside its core retirement business. This includes its most recent acquisition just last month of CAP STRAT, an Illinois-based institutional retirement and wealth management firm that brought in an additional $25 billion in assets.

Creative Planning has also been aggressively building its retirement plan business through a series of key acquisitions, including the retirement divisions of IRON Financial, Lockton, and Mesirow. With more than $210 billion in retirement assets and over 6,000 plans, Creative Planning is already a major player in this space.

The acquisition of SageView, one of the original retirement plan adviser aggregators, could be seen as a culmination of this strategic focus, bringing together a vast client base and a platform built for future growth in both retirement and wealth management.

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