Just weeks after it announced that it was acquiring Goldman Sachs Group Inc.'s registered investment advisor business, mega RIA Creative Planning is continuing to focus on deals. It said Tuesday morning it had acquired a Philadelphia-area firm, Kistler-Tiffany Advisors, that has close to $1 billion in client assets.
Terms of the deal were not disclosed. Kistler-Tiffany is an independent fiduciary that has focused on fee-based financial planning services to clients and families for nearly 50 years, according to a statement from the companies.
"Joining Creative Planning is a monumental step forward," Andy Reder, managing partner at Kistler-Tiffany Advisors, said in a statement, citing the two firms' focus on comprehensive financial planning and attention to clients.
Based in Berwyn, Pennsylvania, Kistler-Tiffany provides plans ranging from estate and business succession planning to retirement strategies and tax-sensitive investments for affluent families and family-owned and privately held businesses,
Creative Planning has $245 billion in client assets. In August, Goldman Sachs said it was selling its RIA business, Personal Financial Management, with $29 billion in client assets, to Creative Planning.
That was quite a turnaround for Goldman Sachs, which had acquired United Capital Financial Partners for $750 million in 2019 and then renamed it Personal Financial Management. The RIA unit targets high-net-worth clients, with $1 million to $5 million in assets. The sale comes as Goldman renews its focus on the ultra-wealthy, who have accounts with $20 million to $50 million and are its typical target client.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Employee accounts, crypto trials and job cuts frame a pivotal year for the Swiss lender.
New name draws on founder's family history as consolidation reshapes the broker-dealer landscape.
Deal brings tech-focused planning expertise, expanded Pacific Northwest presence to national RIA platform.
Five low-cost index ETFs to anchor Trump Accounts as advisors weigh options against 529 and UTMA plans for clients
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
