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June 24, 2020

Creative Planning expands Kansas footprint with Sunrise Advisors acquisition

Creative Planning has bolstered its presence in Kansas with the purchase of Sunrise Advisors for an undisclosed sum.

The deal adds around $700m in AuM to Creative Planning’s books.

Sunrise president Sam Scott said: “It was essential for us to find a partner that shared our conviction in providing full-time, fiduciary-driven advice.

“There’s a remarkable alignment of culture and vision between our firms, and I believe these shared values will only enhance our ability to help the clients who have trusted in us.”

The team at Leawood-based RIA Sunrise, which offers financial planning and investment management services, will be retained.

Commenting on the acquired entity, Creative Planning CEO Peter Mallouk said: “Their expertise in serving high-net worth individuals and families, executives with complex situations, retirees, and small business owners uniquely adds to our talent at Creative.”

Creative Planning’s offering includes retirement and estate planning, trust services, tax advice, family office, 401(k) and institutional money management services.

The firm currently oversees around $48bn in assets across 50 US states.

The latest deal continues the firm’s recent trend of consolidation acquisitions.

Last year, Creative Planning acquired The Johnston Group, OptiFour, and Hogan Financial Management.

This April, the firm snapped up Coe Financial Services with nearly $126m in AUM.

Earlier this year, private equity firm General Atlantic picked a minority stake in Creative Planning.

 

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