Creative Planning LLC, a registered investment advisor (RIA) headquartered in Overland Park, Kan., has closed on its first acquisition of 2022 by acquiring Keystone Wealth Partners, a full-service wealth management firm managing $644 million in assets, with offices in Chandler, Ariz., and Bismarck, N.D., the companies announced.
Founded in 2014 by managing partner John Hagensen, Keystone employs a holistic approach to wealth management by bringing together accountants, attorneys and financial advisors to jointly provide client services in wealth management, estate planning, and tax planning and preparation under one roof., according to a news release.
The practice has 29 employees and 13 financial advisors, attorneys and CPAs on staff. Hagensen said he's sees his firm as a fit for Creative Planning, which is headed by CEO Peter Mallouk.
“I have admired Creative Planning since my early days as a financial advisor," Hagensen said in the release. “My team and I are in perfect alignment with Peter’s vision to provide holistic advice that spans far beyond investments. Joining Creative Planning will allow us to deepen our value proposition for new and existing families.”
Mallouk said, “John and the entire team at Keystone are going to be such a phenomenal addition to the Creative Planning family. ... The team-based approach that Keystone has implemented is the exact type of fit we look for in potential additions like these. Their organic growth since inception speaks volumes.”
Founded in 1983, Creative Planning was acquired by Mallouk in 2004 after he worked for the firm for five years as an estate planner.
As of December 31, Creative Planning reported over $225 billion in assets across all 50 states and in 65 countries.