Another new month, another new deal for Creative Planning.
It was announced today that Paradigm Financial Advisors has joined forces with Overland Park, Kan.-based Creative Planning Inc., one of the largest Registered Investment Advisors in the country.
Paradigm was one of the first fee-only fiduciary RIA firms in the greater St. Louis area and has over $600 million in assets under management. Paradigm brings a talented team of professionals to Creative Planning that have extensive experience in providing financial planning, investment management, tax planning and multigenerational estate planning for high-net-worth clients and their families, Creative Planning said in a Feb. 1 statement about the deal.
“We have admired Paradigm for many years because of their comprehensive wealth planning expertise and their commitment to serving their clients in a fiduciary capacity,” said Peter Mallouk, CEO of Creative Planning. “When we are looking at potential firms to partner with, we try to find firms that have a similar culture and have a skillset that can help us expand our wealth management capabilities for our clients. Paradigm exemplifies these ideals, and we are thrilled that they have joined our team at Creative Planning.”
Jim Reding, the owner of Paradigm, has become an equity partner with Creative Planning and he will serve as Managing Director of the St. Louis office. “We talked to dozens of firms about merging over the past few years and we feel blessed to have found the perfect fit,” said Reding. “Creative Planning has the same business model as we do, which includes a team of in-house attorneys, CPAs and wealth managers that work as a team to provide a much broader range of value added services for clients than other firms in the industry.”
Creative Planning said it will leverage Paradigm’s advanced planning expertise to accelerate growth in the high net worth space and they plan to hire additional attorneys and CPAs to create a new “hub” in St. Louis that will provide estate planning, tax planning and tax preparation services for clients in the Midwest region.
Echelon Partners acted as Paradigm’s investment banker in the transaction. Terms of the deal were not disclosed. Creative Planning manages over $100 billion in assets across all 50 states and 65 countries, as of February 1, 2022.
SEE ALSO:
• California RIA Firm Latest Acquisition for Creative Planning
• Creative Planning to Buy Lockton’s Retirement Business
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
