Independent wealth management firm Creative Planning announced that it has acquired Mesirow's corporate retirement advisory services team, although the terms of the deal were not disclosed.
Led by David Dermenjian, Chris Pohlman, Vince Allegra and Chuck Lawless, this team partners with plan sponsors to manage fiduciary risk, attract and retain employees, and guide them toward achieving optimal retirement outcomes.
As of July 1, 2023, the team serves over 350 retirement plans, representing approximately $13 billion in assets under advisement and management. And as the announcement notes, they are also recognized by NAPA as a top defined contribution plan advisor.
“We are excited to welcome Mesirow's impressive corporate retirement advisory services team into the Creative Planning family,” Creative Planning CEO Peter Mallouk said in a statement. “Their commitment to tailoring financial solutions while championing social responsibility aligns perfectly with our values. They are well-equipped to address the retirement needs of plan sponsors, plan participants, investors, and non-qualified plans.”
Creative Planning offers comprehensive retirement solutions catering to plans of all sizes, serving a wide range of clients, including publicly traded companies, large private corporations, small businesses, startups, as well as government entities such as cities, municipalities, and housing developments. The Creative Planning Retirement Services Practice provides services to over $137 billion in assets under advisement.
Carly Bell, Head of Retirement Services at Creative Planning, who led the acquisition, stated, “The acquisition of Mesirow's corporate retirement team is additive to our existing Retirement Services offering as it brings together industry thought leaders that will continue to expand the comprehensive services available from Creative Planning to plan sponsors and participants.”
Dermenjian added that, “As our business grew, we understood the need to find greater scale and resources. Our primary goal is to partner with plan sponsors and their employees to drive positive outcomes by providing innovative solutions and best in class client service. Joining Creative Planning allows us to deliver a new set of products, solutions and technologies to our current and future clients, and we're excited to be part of one of the largest independent RIAs in the country.”
Creative Planning notes that, as of July 1, 2023, its assets under management were over $245 billion, placing it as one of the largest independent wealth management firms in the country. Its business also spans to all 50 states and 65 countries.
Headquartered in Chicago, Mesirow is an independent, employee-owned financial services firm founded in 1937. The firm was also recently named one of the Best Places to Work in Chicago by Crain's Chicago Business and one of the Top 100 RIA firms by Barron's.
