Top-ranked RIA Creative Planning has unveiled a new merger deal strategically fortifying its presence within its home state.
On Tuesday, the fast-growing RIA giant announced its acquisition of Edmonds Duncan Registered Investment Advisors, a wealth management firm located in Lawrence, Kansas.
The acquisition, finalized on October 1, brings six Edmonds Duncan employees into Creative Planning, which now oversees approximately $325 billion in combined assets under management and advisement.
Peter Mallouk, CEO of Creative Planning, praised Edmonds Duncan’s client-centered approach, which closely aligns with Creative Planning’s own service model.
“Edmonds Duncan has excelled in delivering a personalized approach similar to ours, offering clients tailored plans that truly reflect their goals and visions,” Mallouk said in a statement. “Their strong foundation and local presence in our home state significantly extends Creative Planning’s reach.”
Edmonds Duncan was founded in 2013 by Jason Edmonds and Don Duncan, who had a shared 15-year history in the wirehouse space. The firm's clientele includes deep-rooted relationships dating back to 1968, with some clients originating from when Jason Edmonds’ father, Steve Edmonds, began his brokerage career.
"For us, this merger is the culmination of our efforts to bring a comprehensive suite of services to our clients under one roof,” said Jason Edmonds, citing Creative Planning's "best-in-class, fully integrated suite of financial planning, investment management, estate planning, tax, insurance, and trust services.”
With approximately $550 million in AUM as of September 30, 2024, the firm serves around 600 families and provides a range of services, including investment management, retirement income planning, and estate settlement.
Edmonds Duncan marks Creative Planning’s ninth deal since the start of 2023, underscoring the firm’s strategic growth in both geographic footprint and wealth management capabilities.
The firm's deal in Kansas builds on other significant wins this year, including its acquisition of a $2.2 billion AUM powerhouse practice in Texas and a capital infusion via a reportedly $2 billion strategic minority investment from TPG Capital in September.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
