RIA Creative Planning is getting bigger in Central Texas as it incorporates a multibillion-dollar practice. The firm announced its acquisition of ML&R Wealth Management, a financial advisory firm that’s been operating for more than 25 years, currently with locations in Austin and Round Rock.
The strategic move, completed Monday, brings ML&R's $2.2 billion in assets under management and a team of 18 into Creative Planning's growing portfolio.
“We are pleased to welcome ML&R Wealth Management and their expert team into the Creative Planning fold,” Peter Mallouk, Creative Planning’s chief executive, said in a statement.
Mallouk praised ML&R's strong community engagement and reputation in Central Texas as pivotal for individuals and businesses planning for a financially secure future.
ML&R Wealth Management has distinguished itself through its commitment to personalized wealth management services, with an approach that combines comprehensive financial planning, investment management, and risk mitigation strategies tailored to the unique needs and goals of its clients.
The firm has been featured on numerous prestigious lists including CNBC's FA 100 rankings and InvestmentNews' Best Places to Work for Financial Advisors, underscoring its industry excellence and client-centric approach.
“At our core, we understand that our client's financial goals are unique, and we prioritize their dreams by crafting personalized wealth management strategies that go beyond mere numbers,” said Stuart Smith, lead partner at ML&R, who’s been registered as an advisor with the SEC for two decades.
She anticipates that the merger will enrich the service offerings available to ML&R's clients and integrate the firm's expertise into Creative Planning's broader ecosystem, benefiting the more than 3,000 client accounts managed by ML&R.
Creative Planning’s growth as a firm over the years has been something to see. From just a touch under $70 billion in 2020, the leading RIA grew to $245 billion in client assets as of late August, when it struck a deal to acquire Goldman Sachs’ RIA business.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
