Creative Planning Expands Wealth Management with New Acquisition

Creative Planning Expands Its Services through Acquisition

Creative Planning, one of the leading registered investment advisors in the nation, has recently taken a significant step forward by acquiring Krivoshein | McDaniels Financial. This strategic acquisition underscores Creative Planning's commitment to delivering exceptional financial guidance. With a strong focus on personalized service, Creative Planning aims to integrate the expertise of six dedicated wealth management professionals from Krivoshein | McDaniels Financial into its operations.

Commitment to Client Relationships

Peter Mallouk, the CEO of Creative Planning, expressed enthusiasm about this merger. He noted, "The team at Krivoshein | McDaniels Financial shares our commitment to providing trusted, tailored financial guidance." This sentiment illustrates the alignment between both firms, emphasizing the importance of client relationships and a client-centered approach that resonates with the mission of Creative Planning.

The Evolution of Krivoshein | McDaniels Financial

Founded in 2001 by Scott Krivoshein, the advisory practice evolved significantly when Kim McDaniels joined in 2011. Their collective effort over the years has cultivated a strong foundation of trust and expertise, leading to the firm’s rebranding as Krivoshein | McDaniels Financial in 2021. This history reflects their dedication to personalized financial and investment guidance, which will be pivotal in their future endeavors within Creative Planning.

Diverse Clientele and Financial Services

Krivoshein | McDaniels Financial has built a robust client base that includes retirees, pre-retirees, families, women investors, business owners, and individuals. As of the latest reports, the firm managed approximately $460 million in assets, showcasing their effectiveness in wealth management. With the acquisition by Creative Planning, they will continue to offer comprehensive services, including retirement planning, estate planning, investment management, charitable planning, and much more.

Growth and Expansion in Wealth Management

This acquisition marks a notable achievement for Creative Planning as it represents their eleventh acquisition in just two years, reflecting a deliberate strategy for growth and expansion. By enhancing its geographical footprint and enriching its wealth management capabilities, Creative Planning is poised to deliver even greater value to its clients.

Enhanced Resources for Better Service

Scott Krivoshein, now a Partner at Creative Planning, emphasized the pride in the relationships built throughout their journey, stating, "We're incredibly proud of the relationships we've built and the successes we've helped our clients achieve." Both he and Partner Kim McDaniels look forward to leveraging Creative Planning's network, advanced technology, and extensive resources, which they believe will enhance the value offered to their clients. This integration is expected to improve service levels and provide access to innovative tools and resources for their clientele.

About Creative Planning

Creative Planning, LLC stands out as an independent wealth management firm dedicated to a financial planning-led investment management approach. They offer a broad range of services, including retirement planning, estate planning, trust services, and tax planning for both individuals and institutional clients. As of a recent reporting period, Creative Planning and its affiliates manage over $345 billion in assets across various regions, including all 50 states and 90 countries. This impressive portfolio positions Creative Planning as a formidable player in the financial landscape, with the aim of enhancing the financial well-being of their clients.

Frequently Asked Questions

What prompted Creative Planning to acquire Krivoshein | McDaniels Financial?

The acquisition aligns with Creative Planning's strategic growth strategy, aimed at enhancing its wealth management capabilities and expanding its geographical footprint.

Who founded Krivoshein | McDaniels Financial?

Scott Krivoshein founded the advisory practice in 2001, with Kim McDaniels joining him in 2011, eventually leading to their rebranding in 2021.

What types of clients does Krivoshein | McDaniels Financial serve?

The firm caters to a diverse clientele, including retirees, pre-retirees, families, women investors, business owners, and individual investors.

What services will be offered after the acquisition?

Post-acquisition, clients will continue to receive services such as retirement planning, financial planning, investment management, and charitable planning among others.

How much in assets did Krivoshein | McDaniels Financial manage before the acquisition?

As of September 2024, Krivoshein | McDaniels Financial managed approximately $460 million in assets.

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