Creative Planning Inc., a registered investment advisor (RIA) headquartered in Overland Park, Kan., has acquired Castle Wealth Advisors, which manages $320 million in client assets, the two firms said in a news release.
“We are excited to bring Castle Wealth Advisors into our fold,” said Creative Planning Chief Executive Officer Peter Mallouk. “Castle is a well-established firm with an innovative approach that aligns perfectly with our values and vision.”
Founded in 1973 by Gary Pittsford, the first president of the National Association of Personal Financial Advisors (NAPFA), Castle Wealth has offices in Indianapolis and Naperville, Ill., and provides business valuation services to clients in all 50 states nationwide.
According to Pittsford, the new partnership between Indiana’s oldest fee-only financial advisor and one of the nation’s largest wealth management firms is a mutually beneficial one for both companies.
“Creative Planning is the gold standard when it comes to leading the way with a broad offering and, because of that, stood as the clear choice for us,” Pittsford said in the news release. “We are now able to serve our clients in ways we simply couldn’t before, and Creative Planning has the scale and expertise to make sure we can over-deliver to our clients.”
Financial details of the transaction were not disclosed.
Founded in 1983, Creative Planning, Inc., is one of the nation's largest RIA firms, managing over $76 billion in assets across all 50 states and overseas.