Creative Planning has notched its first acquisition since August, adding the $1 billion Telarray Advisors.
Based in Memphis, Tennessee, Telarray has a history dating to 2005 and has 18 employees, all of whom will join Creative Planning, a $225 billion RIA based in Overland Park, Kansas.
"Creative Planning is thrilled to bring on the Telarray team, who will help us break deeper into the Tennessee market," Creative Planning Chief Executive Peter Mallouk said in a statement.
"It was evident from very early on in our discussions that Telarray's attention to detail, prioritization of clients' needs, and overall work ethic would make a great addition to our team,” he added.
Richard Paessler, president and chief compliance officer at Telarray, described the “partnership” with Creative Planning as a “perfect match.”
"We were looking for a firm that aligned with us in planning philosophy, culture, employee opportunities, and that provides an immediate expansion in our service offering for both our existing and future clients,” he said. “Creative is that partner, and we are excited to be a part of the team."
Paessler was named president of Telarray in 2017, after joining the firm five years earlier as chief compliance officer and chief marketing officer.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
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.
