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.
Goldman Sachs retirement survey finds 83% want guaranteed income, while the annuities providing that income increasingly hold private credit.
The AI meeting assistant's Advisor Intelligence plugin turns client conversation data into annual reviews, tax scans and attrition alerts.
Chuck Roberts and Stifel have been facing scrutiny due to sales of structured products and structured notes.
Among other updates, the proposals would let advisors to regulated funds earn performance fees and allow interval funds to offer monthly repurchases.
What will financial advice look like 20 years from now? Evan Vladem explores how AI may transform wealth management while reinforcing the enduring value of human guidance, trust, and empathy.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
