Creative Planning, one of the nation’s largest RIAs, announced Wednesday that it has acquired Wipfli Financial Advisors, the latest in a line of acquisitions for the Kansas City-based firm.
Wipfli Financial Advisors is the wealth management and investment advisory affiliate of Wipfli LLP, It has $5 billion in AUM and brings 95 new employees to Creative Planning fold, including the firm’s CEO, Jeff Pierce. The companies said Wipfli LLP will maintain a “significant minority ownership stake in the venture.”
Wipfli LLP started Wipfli Financial Advisors in 1999. The transaction includes Wipfli Financial Advisor’s digital investment solution, Avid, as well as its retirement plan services group. They will complement Creative Planning’s recent acquisition of Lockton Retirement Services and its emerging wealth division.
“Creative Planning is excited to bring on the Wipfli Financial Advisors team,” Peter Mallouk, CEO of Creative Planning said in a statement. “Their presence in Colorado, Illinois, Minnesota, New Hampshire, Montana, Pennsylvania, and Wisconsin will help us better serve our clients throughout the U.S.”
“From leading with financial planning and a similar evidence-based investment approach to the incredibly strong cultural alignment and deep commitment to both clients and employees, we knew Creative Planning was the right firm for us to join with,” Jeff Pierce, principal and CEO of Wipfli Financial Advisors, added.
With its latest acquisition, the third in roughly two months, Creative Planning manages or advises on over $225 billion in assets across all 50 states and 65 countries with continued plans for growth throughout 2022.
Transaction terms were not disclosed, and the timing of closing is subject to certain approvals and conditions. Ardea Partners LP served as exclusive financial advisor to Wipfli Financial Advisors, and Alston & Bird served as legal counsel to Wipfli Financial Advisors.
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With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
