Creative Planning Adds $1B With 7th Deal This Year

The largest RIA buyer of ETFs is taking advantage of the buyers’ market for RIAs.

Jeff Benjamin

Wealth Management Editor

Oct 04, 2023

Reviewed by: Ron Day

Edited by: Mark Nacinovich

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The momentum continues for Creative Planning as the $245 billion registered investment advisory firm folds in its seventh acquisition of the year, with designs on taking advantage of the unique supply and demand imbalances.

This week’s announced acquisition of Kistler-Tiffany Advisors, a $1 billion RIA, is the latest example of Creative Planning’s aggressive growth plans even as higher interest rates have pushed some buyers away from the table.

“Things are definitely more expensive if you’re using debt,” said Peter Mallouk, chief executive of Creative Planning.

That reality, which has resulted from an 18-month tightening cycle by the Federal Reserve, represents an opportunity for Mallouk.

“Prices are coming down because it’s becoming less competitive on the buyer side,” he said.

Terms of the Kistler-Tiffany deal weren’t disclosed, but Mallouk described the size of the acquisition as “about average” for Creative Planning, which is also in the process of closing its acquisition of Goldman Sachs Personal Financial Management business.

Goldman Sachs Deal

The Goldman business, which represents more than $29 billion in advisory assets, is expected to close later this month, Mallouk said.

He said the majority of the advisors will be making a transition from Goldman and will operate independently under the United Capital banner.

Creative Planning, which ranks as the largest RIA buyer of ETFs, is expected to enhance that status with the latest string of deals.

“We use ETFs because we believe in passive investing,” Mallouk said, adding that Philadelphia-based Kistler-Tiffany’s asset-allocation strategies lines up with Creative Planning's.

Kistler-Tiffany has been around for nearly 50 years and specializes in estate planning, charitable initiatives and business succession for wealthy families.

"Joining Creative Planning is a monumental step forward," said Andy Reder, managing partner at Kistler-Tiffany Advisors.

"Our shared vision of comprehensive financial planning and personalized client care finds an ideal partner in Creative Planning's innovative approach,” he added.

Contact Jeff Benjamin at [email protected] and find him on X: @BenjiWriter     

Jeff Benjamin

| Contact: [email protected]

Jeff Benjamin is the wealth management editor at etf.com, responsible for coverage related to the financial planning industry. This includes writing, hosting podcasts, webinars, video interviews and presenting at in-person events.

Jeff is a veteran journalist with more than 30 years’ experience covering the financial markets. He has won more than two dozen national and regional awards for his reporting. He most recently worked as a senior columnist at InvestmentNews where he wrote about investment products and strategies, as well as the broader financial planning industry. Prior to that, Jeff worked as an analyst at Cerulli Associates where he researched and wrote reports on the alternative investments industry. Jeff also worked as a money management reporter at Dow Jones Newswires, where he covered the mutual fund industry.

Based in North Carolina, Jeff is a former Marine and has a bachelor’s degree in journalism from Central Michigan University.

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