Creative Planning Acquires $275M Financial Abundance 

Creative Planning has bought a registered advisor firm, which manages $275 million in client assets. 

State College, PA-based Financial Abundance, led by founder and president Paul Nichols, provides “customized” financial planning services, investing, and educational workshops related to personal finance and financial coaching services. 

The team includes Sherry Nichols and Ashton Immel, Justin Miller, and Joel Martin, according to Financial Abundance’s website. 

The acquisition, which closed on September 30, marks Creative Planning’s 14th deal, following its recent acquisition of Santa Clara, CA-based Grassi Investment Management, which manages $1.3 billion in client assets. 

“Financial Abundance shares our values and client-centered approach,” Peter Mallouk, CEO and president of Creative Planning, said. “Their vast knowledge and expertise will be a welcome addition to the Creative Planning team, boosting our presence on the East Coast.” 

Earlier this month, Creative Planning announced its plans to acquire RIA SageView Advisory Group and its $250 billion in assets under management, and the deal boosted the firm’s total assets to about $640 billion. 

Aquiline Capital Partners, which acquired a majority stake in SageView in 2021, will exit its investment upon completion of the transaction, which is set to close in December. 

Creative Planning received minority funding from private equity firms TPG and General Atlantic.  

The firm says it has more than $390 billion in combined assets under management and advisement across all 50 states and 90 countries as of September 30.