Creative Planning Keeps Growing in Silicon Valley With $1.3B San Jose-Based RIA

Core Insights - Creative Planning has expanded its presence in the Silicon Valley area by hiring Grassi Investment Management, which has over $1 billion in assets under management [1][2] - The acquisition of Grassi Investment Management adds $1.3 billion in assets to Creative Planning, further solidifying its market position [2] - This marks at least the second acquisition of a plus-$1 billion registered investment advisor (RIA) by Creative Planning in the region this year [2][3] Company Expansion - Creative Planning has completed seven deals in 2023, indicating a strong growth strategy in the wealth management sector [3] - The firm is backed by minority investors TPG Capital and General Atlantic, which supports its acquisition strategy [3] Leadership and Team - Peter Grassi, the managing partner of Grassi Investment Management, has a background in investment, having previously worked at Davis, Skaggs and Company and Smith Barney [3][4] - Grassi's team, including financial consultant Kenneth Cervantes, will join Creative Planning, enhancing its capabilities in the market [1][2] Investment Philosophy - Grassi Investment Management emphasizes selecting undervalued stocks and bonds for investment portfolios, focusing on helping clients achieve retirement and financial independence [5]