Private equity firm General Atlantic has picked a minority stake in Kansas-based wealth manager Creative Planning.

The precise stake size or other financial details regarding the transaction were not revealed.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

General Atlantic managing director and co-head of financial services Paul Stamas said: “We strongly believe that Creative Planning stands well-positioned as an industry leader to capture the significant opportunity that exists in the registered investment adviser space, and we are energised to be partnering with the Company as it continues its expansion.”

Creative Planning CEO Peter Mallouk will retain a majority holding in the business and his existing position.

Spearheaded by Mallouk, the firm’s assets are currently said to have surged to nearly $50bn from below $100m in 2004.

“We are excited to partner with an investor who shares our vision and is committed to continuing on the Creative Planning path, which is to focus on a long-term plan to emerge as the leader in the industry,” Mallouk stated.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Creative Planning offers estate planning, trust services, tax advice, family office services as well as 401(k) services, among others.

Currently, it has 27 branches and customers across all 50 states in the US. Its staff headcount stands at 650.

The firm carried out several consolidation activities last year. These include the acquisitions of The Johnston Group that marked its first purchase, America’s Best 401k, OptiFour, and Hogan Financial Management.

Creative Planning continued its buying spree this year with the purchase of Stratford Consulting.