Creative Planning, one of the largest registered investment advisors (RIAs) in the country, is acquiring CTB Financial Services, an RIA firm serving over 300 clients in Minneapolis.
CTB Financial Services currently manages nearly $240 million in assets under management (AUM). The firm works with clients seeking guidance in tax optimization, merging tax planning with investment management.
“We are excited to welcome CTB Financial Services into the Creative Planning family,” said Peter Mallouk, CEO of Creative Planning, in a statement. “Having earned the reputation of being the family CFO among their clients, their proven proficiency in wealth management and tax planning aligns with our mission of offering holistic, client-centric financial solutions. This strategic acquisition underscores our commitment to delivering exceptional value and comprehensive support to our clients.”
By incorporating CTB’s offerings, Creative Planning says it will enhance its ability to provide tax-efficient investment strategies to its client base. The firm holds over $210 billion in combined AUM as of December 31, 2022.
“Coming together with Creative Planning is an exciting opportunity,” added Jonathan Liang, senior advisor at CTB Financial and partner at Creative Planning.” By consolidating taxes, retirement, spending, and investments within a single framework, we’ve seen how blended financial management can yield superior results. Now, we integrate these achievements with the extensive resources of Creative Planning, amplifying our capacity to bring exceptional value to our clients. Our shared vision of comprehensive financial planning and personalized client care makes joining Creative Planning a natural fit.”
The acquisition follows Creative Planning’s announcement last month that it would partner with Goldman Sachs Advisor Solutions (GSAS) to provide institutional grade custody solutions to clients.
Prior to that, Creative Planning announced a line of acquisitions of in 2022 that included Wipfli Financial Advisors, RIA firms Emery Howard and Resource Management LLC, and wealth management firm Hatton Consulting, among others.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
