Industry Moves

Creative Planning Adds Texas-Based RIA

Creative Planning has added a wealth management practice in Texas, marking at least its fifth acquisition.

Addison, Texas-based Stratford Consulting, led by Susan Schildt and Michael Hemp, manages around $618 million, according to a press release from Creative Planning. The companies didn’t disclose the financial terms of the deal.

"As a boutique comprehensive financial planning RIA, we did not anticipate finding that a national firm would be a fit for us,” Schildt, Stratford Consulting’s managing principal, says in the press release. “In Creative Planning we have found a company with deep resources and an outstanding reputation that also shares our view of how to best treat and work with clients.”

The acquisition builds on Creative Planning’s presence in Texas: the firm “already has a substantial presence in the Dallas Metro,” Peter Mallouk, Creative Planning’s CEO, says in the press release.

Despite being founded in 1983, Creative Planning only began acquiring practices in March of last year. But it ended up adding at least four practices since then, including Hogan Financial Management, America’s Best 401k, OptiFour and Johnston Group. Creative Planning now manages roughly $48 billion nationwide, the company says.


Ashfield Capital Lures Hall Capital Exec

Independent wealth advice firm Ashfield Capital Partners has added Alison Bowe Diessner to its executive team, the company says.

Diessner joins the San Francisco-based firm as a partner and portfolio manager, according to a press release from Ashfield. She will offer a variety of wealth management services, including investment evaluation, portfolio construction and estate and tax planning, the company says.

Prior to joining Ashfield, Diessner had been a principal at Hall Capital Partners since 2013, working on building institutional and family relationships, Ashfield says. She has also held various roles at Jasper Ridge Partners, BlackRock and Bernstein Global Wealth Management and Banc of America Securities during her more than two-decade career in financial services, according to the press release.

"Alison’s partnership strengthens our firm’s advisory capabilities. We are proud to celebrate over 45 years of serving long-standing and trusted clients, and Alison will be instrumental as we build upon our history and serve future generations of Ashfield clients," Ashfield CEO Peter Johnson says in the press release. "Alison has the experience and perspective we need in order to more fully support and engage with clients as they move through meaningful decision points in their lives."