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.
With a fifth of RIA firms using AI to create marketing content, one leading voice argues a clear identity and focusing on clients will be crucial to success.
LPL Financial is a bellwether for the broader financial advice marketplace.
The San Francisco-based startup's Series A funding, with support from Schwab and Edward Jones Ventures, will reinforce its role in the coming $124 trillion wealth transfer.
The quartet of deals across New York, Florida, Ohio, and New Mexico reinforces the fast-growing integrator's leading position in the independent space.
UBS and Wells Fargo have made their own additions in the Northeast, including a Massachusetts duo defecting from Commonwealth.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
