The rapid pace of acquisitions continues for Creative Planning, but its latest deal marks the first time the serial acquirer has bought locally.
Overland Park, Kansas-based Creative Planning Tuesday announced the purchase of Sunrise Advisors, a $700 million advisory firm based in Leawood, Kansas.
It is Creative Planning’s seventh deal so far this year.
Peter Mallouk, Creative Planning chief executive, said that he has known at least one of the Sunrise owners for nearly 10 years and that the acquisition discussions go back more than a year.
“When we connected about joining forces, I understood we had an opportunity to change the landscape in Kansas City and beyond,” Mallouk said. “Their expertise in serving high-net-worth individuals and families, executives with complex situations, retirees and small business owners uniquely adds to our talent at Creative.”
Sunrise Chairman Dave Scott, with whom Mallouk has had a long relationship, referenced Creative Planning’s “holistic approach” as a “natural fit.”
“We’re thrilled the Sunrise team will remain in place to continue to serve our clients and friends,” Scott said.
Sam Scott, Sunrise president, added, “It was essential for us to find a partner that shared our conviction in providing full-time, fiduciary-driven advice.”
Creative Planning manages approximately $48 billion for clients across all 50 states.
Saba pushed; the justices pushed back - and the SEC keeps the gavel.
Two restrictive covenants gone in one ruling - and the drafting flaw is everywhere.
Clients' everyday realities, anxieties, and aspirations naturally change as they go up the wealth scale – and that has profound implications for advisors helping them find what "enough" really means.
The RIA technology giant's new office features a fitness center, café and outdoor community spaces, including a beehive, picnic area and herb garden for over 100 employees.
Liquidity risk overtakes access as the top concern for E&Fs as private markets dominate portfolios.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
