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Creative Planning acquires Lenox Wealth

The Overland Park company has added $600 million is assets with the addition of Lenox, now raising Creative Planning’s overall total in assets to $50 billion.

With the acquisition of Lenox Wealth Management in Cincinnati, Overland Park-based Creative Planning has added $600 million in assets to its now overall $50 billion.

The move marks Creative Planning’s 10th acquisition over the last two years.

“Creative Planning has a substantive presence in Cincinnati already, and with Lenox joining the team, we will be working with hundreds of families in the area with well over a billion in assets,” Creative Planning CEO Peter Mallouk said. “Our goal is to become the No. 1 choice for individuals seeking independent wealth management in Cincinnati and throughout the country.”

John Lame, CEO at Lenox Wealth, will remain with the company and will take on an advisory role, continuing to work with clients.

“Twenty years ago, Lenox set forth with a vision to better serve the (Procter & Gamble) and Cincinnati communities by creating an independent, fee-only, multifamily office platform,” Lame said, going on to say that the merge will preserve Lenox’s heritage as fiduciaries, expand its menu of services, and provide technology and scale for advisers.