Creative Planning, an Overland Park, Kan.-based RIA with more than $245 billion in assets under management, announced it has acquired Daniels + Tansey, a Wilmington, Del.-based RIA with $600 million under management.

“The D+T team has spent decades building deep client relationships that are strengthened by the delivery of comprehensive wealth management,” said Peter Mallouk, Creative Planning’s CEO, in a statement. 

Daniels + Tansey, Mallouk said, is made up of “industry experts [who are] dedicated to delivering comprehensive wealth solutions with a personal touch, a philosophy that aligns seamlessly with Creative Planning's values."

According to the firm's latest Form ADV, filed with the SEC in March, Daniels + Tansey has nine employees, including six who serve financial advisory functions. The firm also reported serving mostly individual clients, including about 150 high-net-worth clients with about $470 million under management with the firm. The firm also reported serving some pensions, charitable organizations and corporate clients.

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 has more than 15,000 advisors spread across all 50 states and 65 countries.

“We were seeking a partner with unmatched capabilities for clients, like-minded values, and commitment to service excellence,” said Chris Daniels, Daniels + Tansey’s managing director, in a statement. “We’re excited about what our partnership with Creative Planning brings to our business and especially our clients.”

By combining Creative Planning’s comprehensive national platform with Daniels + Tansey’s 40-year relationship with the Delaware Valley community, he said, the firm hopes to offer clients “premier, full-service tailored wealth management experience. We’re looking forward to the opportunity to simplify financial complexity and build successful wealth journeys for clients throughout the region."

Daniels + Tansey operates as an ensemble firm, priding itself on holistic wealth management built on the three pillars of financial advisory, tax planning, and investment management.

“We have focused on delivering innovative, personalized services to our valued clients over our four-plus decades,” said Christopher “Kit” Daniels and DeVon Daniels, Daniels + Tansey’s founding partners, in a statement. “Now, we have the opportunity to do so much more, and we’re energized to get to work.”

Terms of the deal were not made public, but San Francisco-based M&A consulting company DeVoe & Company was lead advisor for Daniels + Tansey.

First « 1 2 » Next