Creative Planning and EP Wealth Advisors each expanded their national footprints through separate acquisitions on Tuesday, marking continued momentum in the continuing story of RIA industry consolidation.
Creative Planning, one of the largest RIAs in the US, revealed it has acquired Monterey Private Wealth, a California-based firm with over $1 billion in client assets. The deal, which closed March 31, extends Creative Planning’s presence along the West Coast.
Monterey Private Wealth will maintain its operations from its Monterey office, and its existing team will continue serving clients.
“Their established reputation for client-centered financial guidance and their deep community connections perfectly complement our approach to comprehensive wealth management,” Peter Mallouk, president and CEO of Creative Planning, said on Tuesday.
Cris Cabanillas, president and CEO of Monterey Private Wealth – who has two decades of experience as an investment advisor registered with the SEC – cited the firms' shared fiduciary values as a core factor behind the deal. “We’ve always prioritized building meaningful relationships and providing customized financial guidance,” he said.
Creative Planning oversees more than $354 billion in assets under management and advisement across all 50 states and 90 countries as of year-end 2024. In January, it officially welcomed Kowal Investment Group, a $1.3 billion RIA in Brookfield, Winsconsin.
Meanwhile, EP Wealth announced its acquisition of AlphaMark Advisors, a Fort Wright, Kentucky-based firm with roughly $385 million in assets under management.
The move expands EP Wealth’s reach in the Midwest, staking its first Kentucky location, with AlphaMark continuing operations in the Greater Cincinnati area.
“Partnering with the AlphaMark team expands our ability to [provide personalized advice] in Kentucky and Ohio,” Ryan Parker, CEO of EP Wealth, said in a statment Tuesday.
Founded in 1999, AlphaMark specializes in retirement planning and financial guidance during life transitions. Among its initiatives is Women & Wealth, a program created by AlphaMark partner Kelly Owens to support women navigating financial decisions through events like divorce or widowhood.
Michael Simon, AlphaMark’s founder, said, “We believe this partnership can strengthen our ability to guide clients through major transitions and deliver even more value across their full financial picture.”
Four AlphaMark employees will join EP Wealth alongside Simon. This marks EP Wealth’s fourth acquisition of 2025, as the firm continues to grow through regional partnerships aligned with its client-focused planning model.
Previous to AlphaMark, EP Wealth's additions in 2025 so far include $1.6 billion Executive Wealth Management, its first partner in Michigan; The Holben Group, based in Colorado; and $660 million Peninsula Wealth in San Francisco.
EP Wealth manages more than $31 billion in client assets across 49 offices in 16 states, as of December 31.
The alternatives giant's new unit, led by a 17-year veteran, will tap into four areas worth an estimated $60 trillion.
"It's like a soap opera," says one senior industry executive.
The latest annual survey from EBRI and Greenwald Research sheds light on anxieties around living costs, volatility, and the future of federal income support in retirement.
It's a showdown for the ages as wealth managers assess its impact on client portfolios.
The Merrill Lynch defectors expand RBC's reach in Texas while LPL bolsters its New York presence.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
