Creative Planning Scoops $1B Memphis RIA with Focus on Larger Deals
Creative Planning, one of the country’s largest registered investment advisors (RIA) with $225 billion in managed assets, is establishing a footprint in Tennessee with the acquisition of Telarray Advisors, a Memphis-based RIA that manages approximately $1 billion in client assets with 18 employees.
Founded in 2005 and steered by Richard Paessler, President and Chief Compliance Officer, Telarray is a fee-only firm that specializes in estate planning, tax management strategies, executive compensation and risk management.
The Telarray acquisition for Overland Park, KS-based Creative Planning, which is minority-owned by private equity firm General Atlantic, is the first in seven months.
“It was evident from very early on in our discussions that Telarray’s attention to detail, prioritization of clients’ needs, and overall work ethic would make a great addition to our team,” said Peter Mallouk, CEO of Creative Planning, who has lef the firm since 2004.
Last year, Creative Planning closed 12 acquisitions totaling about $15 billion in, including the $5 billion Wipfli financial Advisors deal in August.
