Creative Planning buys Silicon Valley RIA serving technical executives

What do you want to know

  • The addition of Emery Howard expands Creative Planning’s footprint in the San Francisco Bay Area.
  • San Francisco is Creative Planning’s fastest growing market in the country, CEO Peter Mallouk said.
  • Emery Howard also has experience advising executive clients in the technology industry which is an added bonus.

Overland Park, Kansas-based RIA Creative Planning has acquired Emery Howard, a Burlingame, Calif.-based RIA with more than $1.8 billion in assets under management, Creative Planning said Tuesday.

Emery Howard has focused on providing personalized management services to high net worth clients since 1991. His clients include tech industry executives who have helped fuel “innovation and explosive growth” in neighboring Silicon Valley, according to Emery Howard’s website.

Asked in a phone interview what he found attractive about Emery Howard, Peter Mallouk, CEO and President of Creative Planning, told ThinkAdvisor, “San Francisco is actually our fastest growing market in the country. .”

Creative Planning has offices across the region and had about 15 advisers there before acquiring Emery Howard, he said, noting that the latest addition increases its number in the market by another six people, to most advisors.

Creative Planning has been “aggressively recruiting talent” from the market over the past year and “it was a great way to acquire an office” near Silicon Valley that had “very experienced talent used to working with very rich technological frameworks”, he explained.

Emery Howard’s team also “fits our investment philosophy [and] our culture, so all of those things put together made this one an easy decision,” he told ThinkAdvisor.

Emery Howard’s team also shares “our planning-focused approach”, he said, adding: “What’s different is [is in] the region where we are growing faster than anywhere else.

Emery Howard was looking to align with a company that had “exceptional investment and planning capabilities and would provide an operational scale that allowed our team to focus exclusively on client relationships,” according to Michael Howard, its president. .

“Peter Mallouk and the Creative Planning team have given us enormous resources to deliver a broader offering in a holistic and comprehensive way,” Howard said in a statement. “Peter has created a culture, a value system and an investment philosophy that has been very consistent with what we have developed over the decades and the independence to operate as we have always done going forward. before.”

More offers to come

The acquisition closed in late 2021, Mallouk said, declining to say how much his company paid. DeVoe & Co. served as financial advisor to Emery Howard on the deal.

With its latest acquisition, Creative Planning now manages more than $134 billion and advises $91 billion in assets in all 50 states and 65 countries with plans for continued growth through 2022, he said.

The deal was announced less than a month after Creative Planning announced the acquisition of The Doman Group, a New York-based RIA with $400 million in AUM. The deal was announced a month after Creative Planning announced the acquisition of Des Peres, Mo.-based Paradigm Financial Advisors, a St. Louis market RIA with more than $600 million in assets under management.

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