The Retirement Planning Group Acquires Firm with $185M in AUM

Posted September 24, 2024

Leawood-based The Retirement Planning Group has acquired Parrott Wealth Management, LLC, adding over $180 million in assets.

Based in Austin, Parrott Wealth Management operates approximately $185 million in assets under management, as of December 31, 2023. Through the acquisition, three Parrot full-time employees will become employees for The Retirement Planning Group (TRPG) and its parent company Cetera.

“The Parrott Wealth team is the latest example of successful client-centric advisors looking to make a change to benefit their clients and their business by joining us,” Kevin Conard, CEO of TRPG, said in the release. “As TRPG’s growth trajectory continues, we expect to attract more independent advisors with similar aspirations to set their clients and businesses up for long-term success.”

This is the fourth acquisition TRPG has made since being acquired by Cetera in 2023. TRPG first acquired fellow Kansas-based firm Dightman Capital Group in February. The firm acquired Honolulu-based Lee Financial Group Hawaii in June, adding approximately $225 million in AUM, and then acquired Paramus, New Jersey-based Watters Financial Services in August, adding another roughly $180 million in AUM.

Headquartered in Leawood, TRPG is a registered investment advisory firm with over 2,000 clients and $2.6 billion in assets under management, as of June 30, 2024. Cetera oversees over $475 billion in assets under administration and $190 billion under management, as of Dec. 20, 2023.