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.