Creative Planning announced that it has reached an agreement to purchase Wipfli Financial Advisors, the wealth management and investment advisory affiliate of CPA and advisory firm Wipfli LLP.
Started in 1999, Wipfli Financial Advisors has $5 billion in AUM and brings 95 new employees into the Creative Planning fold, including the firm’s CEO, Jeff Pierce. Wipfli LLP will maintain a significant minority ownership stake in the venture, according to the announcement.
The transaction includes Wipfli Financial Advisor's digital investment solution, Avid, as well as its retirement plan services group. They will complement Creative Planning’s recent acquisition of Lockton Retirement Services and its emerging wealth division.
“Creative Planning is excited to bring on the Wipfli Financial Advisors team. Their presence in Colorado, Illinois, Minnesota, New Hampshire, Montana, Pennsylvania, and Wisconsin will help us better serve our clients throughout the U.S.,” stated Peter Mallouk, CEO of Creative Planning. “From our first conversations with Jeff Pierce and the rest of the Wipfli Financial team, it was evident that this was a perfect match.”
“From leading with financial planning and a similar evidence-based investment approach, to the incredibly strong cultural alignment and deep commitment to both clients and employees, we knew Creative Planning was the right firm for us to join with,” added Jeff Pierce, principal and CEO of Wipfli Financial Advisors. “Going forward, we will be able to provide additional services to our clients to meet their needs for many years to come while investing in our team through a strong commitment to training and development.”
With its latest acquisition, the third in the last two months, Creative Planning manages or advises on over $225 billion in assets across all 50 states and 65 countries with continued plans for growth throughout 2022.
The terms of the transaction were not disclosed, and the timing of closing is subject to certain approvals and conditions. Ardea Partners LP served as exclusive financial advisor to Wipfli Financial Advisors, and Alston & Bird served as legal counsel to Wipfli Financial Advisors.
