Creative Planning’s latest deal includes more than just financial advisors, accounts and assets.
The Overland Park, Kansas-based registered investment advisor, which manages more than $210 billion in combined assets under management and advisement, announced Monday it has acquired BerganKDV, a professional services firm that provides accounting, tax and audit services and business advice, in addition to wealth management. BerganKDV brings $2.495 billion in AUM and 600 employees to Creative Planning.
BerganKDV will rebrand to Creative Planning for Business, CEO Peter Mallouk said in a statement, adding that the deal gives Creative Planning a stronger presence in the Midwest. BerganKDV is headquartered in St. Cloud, Minnesota, and also has offices in Iowa, Minnesota, Missouri and South Dakota.
“[BerganKDV CEO] Dave [Hinnenkamp] and his team have always had their sights set on going beyond traditional financial, tech, and business solutions to do more for their clients, communities and team members,” Mallouk said. "Their client-centric approach is the perfect cultural fit for our ever-growing Creative Planning family.”
“As our firm has evolved, we’ve always strived to fulfill our mission — to be capable of caring for our clients through their entire business, organizational and personal life cycles,” Hinnenkamp said in the statement. “Joining Peter and his Creative Planning team greatly accelerates us along our path to deliver on this mission.”
Terms of the transaction were not disclosed. Republic Capital Group acted as the exclusive investment banking advisor on the deal.
Medicare scam, pandemic benefit theft, offshore tax evasion — federal prosecutors are casting a wide net.
Report finds that pension income acts as a financial lifeline for retirees facing late-life shocks and raises urgent questions about the DC-only future.
Nine-month electronic trading freeze and share lending program at the center of dismissed claim.
Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.
With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
