Kansas-based Registered Investment Adviser (RIA) Creative Planning has acquired Virginia-based peer Sullivan, Bruyette, Speros & Blayney (SBSB).
Established in 1991, SBSB provides financial planning, investment management and tax preparation services to high net worth and ultra-high net worth clients. The Virginia-based firm has more than $5bn in assets under management.
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As part of the transaction, more than 60 SBSB members will migrate to Creative Planning.
SBSB co-founder Greg Sullivan said: “We searched for a partner with great leadership that shared our fiduciary mindset and our comprehensive, financial planning-led approach to wealth management.
“Creative Planning checks all those boxes and will help us greatly expand our client services with in-house access to estate planning, insurance planning and corporate trustee services. We remain focused on delivering outstanding service and advice to our clients and couldn’t be more thrilled to be joining the Creative Planning team.”
Creative Planning CEO Peter Mallouk said: “SBSB is, by far, our most impactful acquisition to date, in terms of bringing on a large pool of experienced talent.
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By GlobalData“With SBSB joining our team in the DC metropolitan area, which already works with over 1,000 clients in the area, we are on our way to emerging as the leader in the region.”
The latest deal is said to be Creative Planning’s biggest RIA deal.
In September last year, the wealth management firm acquired $1.6bn RIA TrueWealth.
Additionally, the company snapped up the retirement division of Illinois-based IRON Financial in February 2021.
