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Creative Planning Acquires ML&R Wealth Management, $2.2B in AUM

Overland Park-based Creative Planning acquires Texas-based ML&R Wealth Management, its first acquisition of 2024. Photo credit: Will Crow

Posted April 4, 2024

Overland Park-based Creative Planning announced its acquisition of Texas-based ML&R Wealth Management, adding 18 employees and $2.2 billion in assets under management.

The deal officially closed on April 1, according to a release Tuesday. 

ML&R is a wealth management firm with advisors specializing in individuals, families, businesses and non-profits financial services. ML&R was established in 1997 and is a subsidiary of Maxwell Locke & Ritter. 

“Joining forces with Creative Planning brings a comprehensive view of finances along with cutting-edge technology and services,” lead partner at ML&R Wealth Management, Stuart Smith said in the release. “We’re thrilled to offer these services to the more than 3,000 client accounts that we manage, as well as our expertise and services into Creative Planning’s broader ecosystem.”

Creative Planning and its affiliates have more than $300 billion in combined AUM across all 50 states and 90 countries as of Dec. 31, 2023.

“We are pleased to welcome ML&R Wealth Management and their expert team into the Creative Planning fold,” CEO of Creative Planning, Peter Mallouk said in a release. “They’ve built a strong reputation as thought leaders as well as presence in the Central Texas community, constantly engaging with businesses and individuals with a breadth of insights and solutions to plan for a financially sound future.”