Creative Planning, the Overland Park, Kan.-based RIA with $300 billion in assets under administration, has acquired ML&R Wealth Management, an advisory practice headquartered in Austin, Texas (with another office in nearby Round Rock) that has more than $2 billion in assets under management.

The terms of the deal were not disclosed, but 18 employees of ML&R are joining Creative Planning.

"We are pleased to welcome ML&R Wealth Management and their expert team into the Creative Planning fold," said Peter Mallouk, president and CEO of Creative Planning, in a statement. "They've built a strong reputation as thought leaders as well as presence in the central Texas community, constantly engaging with businesses and individuals with a breadth of insights and solutions to plan for a financially sound future."

According to the firm's latest Form ADV, filed with the SEC in March 2024, ML&R has 24 employees, 15 of whom are registered as investment advisor representatives and eight of whom perform investment advisory functions. A unit of CPA and advisory firm Maxwell Locke & Ritter, from which it was spun off in 1997, ML&R serves individuals, families, businesses and nonprofits with comprehensive wealth management. It said its areas of expertise include investment management, financial planning and risk mitigation.


"We understand that our clients' financial goals are unique, and we prioritize their dreams by crafting personalized wealth management strategies that go beyond mere numbers,” said Stuart Smith, lead partner at ML&R, in a statement. "Joining forces with Creative Planning brings a comprehensive view of finances along with cutting-edge technology and services. We're thrilled to offer these services to the more than 3,000 client accounts that we manage, as well as our expertise and services into Creative Planning's broader ecosystem."

Creative Planning has been on a steep growth trajectory since Mallouk took over in 2004, when the firm had just $30 million under management and only a handful of advisors. Today, it is a full-service financial firm with more than 1,500 employees across the country, 1,210 of whom perform investment advisory functions, according to its Form ADV filed with the SEC in March. It serves a broad spectrum of individuals, institutions and retirement-plan administrators in all 50 states and 90 countries. The new acquisition expands Creative Planning’s presence in central Texas.


Raymond James advised the acquisition, with Katz Teller as legal counsel to ML&R.