Creative Planning Set To Close $235B SageView Deal in December

Core Insights - Creative Planning has acquired SageView Advisory Group, aiming to close the deal in December, which will enhance its position as one of the largest registered investment advisors (RIAs) in the U.S. with over $370 billion in client assets [1][2] - The acquisition allows Creative Planning to integrate SageView's retirement plan expertise with its wealth management services, creating a more comprehensive offering for clients [4][5] Company Overview - Creative Planning is based in Overland Park, Kansas, and manages more than $370 billion in client assets [1] - SageView, founded in 1989, has been a significant player in the retirement plan advisory space and has been majority-owned by Aquiline Partners since early 2021 [6] Strategic Rationale - The acquisition is seen as a strategic move to strengthen Creative Planning's capabilities in both wealth management and retirement planning, addressing the growing demand for participant education and financial wellness [5] - Peter Mallouk, CEO of Creative Planning, emphasized the importance of this deal at this time, indicating it was a critical moment for the company [3] Market Context - The retirement plan sector is characterized by low margins, but SageView has invested significantly in bridging retirement and wealth management services [5][6] - The deal positions Creative Planning to better serve business owners by providing a comprehensive suite of services that cater to both retirement and wealth management needs [6]