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

Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel
Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel

RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.

Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints
Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints

Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.

iCapital secures $820M in latest funding, hits $7.5B
iCapital secures $820M in latest funding, hits $7.5B

The giant alt investments platform's latest financing led by T. Rowe Price and SurgoCap Partners, along with State Street, UBS, and BNY, will fuel additional growth on multiple fronts.

Merrill Lynch on the hook for $3.7M after clients claimed sale of unsuitable private equity
Merrill Lynch on the hook for $3.7M after clients claimed sale of unsuitable private equity

Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.

What does it take to feel 'financially comfortable' or 'wealthy' in 2025?
What does it take to feel 'financially comfortable' or 'wealthy' in 2025?

New report shines a light on how Americans view wealth today.

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.