US-based independent wealth management firm Creative Planning has acquired San Francisco Bay Area-based registered investment adviser (RIA) Emery Howard.
Financial terms of the deal were not disclosed.
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The acquired entity, which manages more than $1.8bn in assets, offers customised management services to high-net-worth (HNW) clients.
Founded in 1991, the firm is led by president Michael Howard.
Commenting on the deal, Howard said: “We wanted to align with a Firm with outstanding investment and planning capabilities and that would provide operational scale to allow our team to focus exclusively on client relationships.
“Peter has created a culture, value system and investment philosophy that has been very consistent with what we developed over the decades and the independence to operate as we always have going forward.”
The addition of Emery Howard brings Creative Planning’s assets under management (AuM) to $134bn and its assets under advisement (AuA) to $91bn.
The deal comes as the firm, which has been on an acquisition spree in recent years, seeks to accelerate its growth throughout 2022.
Creative Planning CEO Peter Mallouk said: “Mike and the entire Emery Howard team has impressed us for quite some time now.
“In adding Emery Howard to the Creative Planning family, we are getting the perfect culture and business acumen fit. The tenets listed in the Emery Howard mission statement (experience, honesty, and integrity) are so tightly aligned with our mantra here at Creative Planning which makes this a seamless transition for all parties, and we are thrilled to have them on board.”
Last month, Creative Planning acquired JBJ Invest and Paradigm Financial Advisors.
