Creative Planning makes first acquisition, adding $500 million in AUM

Creative Planning Inc., an Overland Park, Kan.-based registered investment adviser managing $38 billion in assets, has acquired The Johnston Group, a Minneapolis-based RIA firm managing $500 million with offices in Minnesota and the Dakotas.

The acquisition, Creative Planning’s first, marks a departure from its organic growth strategy.

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“Until now, we have grown largely through referrals,” said Peter Mallouk, chief executive of the firm, which was founded in 1983. “It’s clear that there are like-minded firms that can fit right into our model as we continue bringing fiduciary advice to Americans from coast to coast.”