Creative Planning buys $1.9 billion RIA, New Orleans-based Resource Management

Creative Planning buys $1.9 billion RIA, New Orleans-based Resource Management
Over the first three months of 2022, the RIA aggregator announced six acquisitions of wealth management firms with close to $5.7 billion in AUM.
APR 05, 2022

In its seventh deal of 2022, Creative Planning said Tuesday it has acquired New Orleans-based Resource Management, a registered investment adviser with $1.9 billion in assets that has been open since 1974.

Creative Planning has been on a roll; over the first three months of the year, it announced the purchases of six wealth management firms with close to $5.7 billion in assets under management. Creative Planning, which oversees more than $225 billion in assets and has a standardized platform for its advisers, has been one of the most aggressive RIA aggregators in the market over the past few years.

Resource Management's president and CEO was Randy Waesche, who is now registered with Creative Planning, according to his Form ADV.

Creative Planning's purchase of Resource Management is the company's second-largest asset purchase this year, according to announcements on its website.

In January, the aggregator said it was buying Reilly Financial Advisors, an RIA in La Mesa, California, with $2 billion in assets under management.

Latest News

Farther debuts AI investment proposal tool for advisors to win clients
Farther debuts AI investment proposal tool for advisors to win clients

"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.

Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler
Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler

Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.

Are you optimally efficient?
Are you optimally efficient?

Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.

Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida
Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida

Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.

Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B
Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B

The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.