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Creative Planning Heads North With Kistler-Tiffany

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Published: February 7th, 2024
In its fifth transaction of the year, the Overland Park, Kan.-based wealth management firm will grow its presence in the Northeast, an area it will continue to target for deals, CEO Peter Mallouk says.

General Atlantic LLC wealth platform Creative Planning LLC has inked another deal for an independent registered investment advisory firm in 2023, The Deal has learned.

In a transaction set to be announced Tuesday, Oct. 3, the firm scooped up Berwyn Park, Pa.-based Kistler-Tiffany Advisors, bringing about $1 billion of client assets into the fold, helping Creative expand its offerings into the Northeast, Creative Planning chief executive Peter Mallouk told The Deal.

As it seeks to build its geographic footprint and scale, Creative Planning is targeting the Rust Belt region, the Upper Midwest, the Northeast and the West Coast for future acquisitions. The firm is in negotiations with two other players at the moment and hopes to seal the deals by the end of the year, according to Mallouk.

“We’re going to have a big solid experienced team in the region to complement our small but very strong team there,” Mallouk said of the Tiffany Advisors deal.

Established in 1974, Kistler-Tiffany is an independent fiduciary that serves family-owned and privately held businesses, as well as high-net-worth families.

Founded in 1983, Creative Planning provides financial and retirement planning, estate planning, trust services, tax planning and family office services to individuals as well as 401(k) and institutional clients. The firm reported over $245 billion in assets under management as of July 1.

As a firm, Creative is focused on partners that have over $1 billion in assets, are planning led, share its investment strategy and are in a marketplace where it doesn’t have a significant presence already.

In August, Creative made headlines when it acquired the personal finance management unit of Goldman Sachs Group Inc. (GS), formerly United Capital Advisers, which Goldman had scooped up in 2019 for $750 million.

Creative has tried to build its expertise in several areas to add to its offerings through acquisitions as well.

A week before acquiring the Goldman unit, on Aug. 22, the firm acquired Minneapolis-based CTB Financial Services Ltd., which provides tax accounting and management accounting for small to midsize businesses. In June, Creative added Bloomington, Minn.-based BerganKDV, providing tax and audit, accounting, business advisory, wealth management and other services to its clients to serve business owners. In March, Creative acquired Memphis-based Telarray Advisors which was overseeing more than $1 billion in client assets.

Editor’s note: The original version of this article was published Oct. 3, 2023, on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

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