Peter Mallouk’s Creative Planning announced it has acquired Atlanta-based RIA TrueWealth, with $1.6 billion in AUM.
The move is the company’s largest acquisition to date, bringing Creative Planning to $2.6 billion in AUM in Atlanta, and represents a next step in Mallouk’s goal of building out a significant presence in major metropolitan hubs.
“This is a big step for us as it allows us to have a launching pad—given their size and ours in the region—to be in a position to grow to No. 1 in the region,” he said. To do that, Creative Planning will need to top $10 billion in the Atlanta area.
“We are just getting started in Atlanta and have the talent in place to make great things happen,” he added.
TrueWealth is led by co-founder and CEO Jim Heard and includes 20 financial advisors.
Creative Planning now boasts $56 billion in AUM.
