Creative Planning Acquires $2.2B Texas RIA  

Creative Planning, a registered investment advisor powerhouse with $300 billion in combined assets under management and advisement, has acquired ML&R Wealth Management, a $2.2 billion Texas-based advisory firm. 

With offices in Austin and Round Rock, TX, Creative Planning said the deal advances the firm’s objective of having local advisors in every major metropolitan market. 

ML&R Wealth Management has been advising individuals, families, businesses, and non-profits on their financial needs for more than 25 years. The terms of the deal, which closed on April 1, were not disclosed. The firm’s 18 employees will be joining Creative Planning. 

“We are pleased to welcome ML&R Wealth Management and their expert team into the Creative Planning fold,” said Peter Mallouk, CEO of Creative Planning. “They’ve built a strong reputation as thought leaders as well as presence in the Central Texas community, constantly engaging with businesses and individuals with a breadth of insights and solutions to plan for a financially sound future.” 

Creative Planning has had rapid growth since Mallouk took over in 2004, when the firm had only $30 million under management and a small number of advisors. Today, it is a full-service financial organization that serves a wide range of clients, institutions, and retirement-plan administrators. 

Last year, the firm made six acquisitions, including the $13 billion retirement plan advisory division of Chicago-based Mesirow Financial Inc. and $1 billion Berwyn, PA-based Kistler-Tiffany Advisors in October.