Mega-RIA Creative Planning Buys $2.5B Professional Services Firm  

Creative Planning, LLC., an Overland Park, KS-based registered investment advisor with approximately $210 billion in assets, has acquired CPA and advisory firm BerganKDV, a Bloomington, MN-based firm with $2.5 billion in assets. 

Financial terms were not disclosed, but the deal marks one of the largest major acquisitions of a CPA firm by a wealth management firm and brings 600 new employees to Creative Planning. 

BerganKDV offers business, financial and technology solutions, including tax and audit, accounting services, business advisory and wealth management. The combined companies will rebrand as Creative Planning for Business. BerganKDV’s CEO, Dave Hinnenkamp, will serve as CEO of the new business. 

“Creative Planning is thrilled to bring on the BerganKDV team to give us an even stronger presence in the Midwest,” said Peter Mallouk, CEO of Creative Planning. “Dave and his team have always had their sights set on going beyond traditional financial, tech, and business solutions to do more for their clients, communities and team members.”  

For Creative Planning, which is backed by private equity firm General Atlantic, the deal is the second announced so far this year. In March, it agreed to acquire Telarray Advisors, an RIA in Memphis, TN with roughly $1 billion in assets under management. 

Republic Capital Group, led by John Langston, served as Creative Planning’s advisor.

Meet industry experts like Greenrock Research Founder & President Kevin Malone by joining us at the Connect Money: Alternative Assets Conference on June 14 in Chicago at the W City Center.