RIA Creative Planning has bought Starfire Investment Advisers, an advisory firm in Southfield, Michigan, that works with about $530 million in assets.
The news comes a week after Creative Planning gobbled up a $700 million RIA in the Kansas City area, where it is based.
“We are focused on becoming more competitive in all markets” in the U.S., said CEO Peter Mallouk, in an interview with ThinkAdvisor. “This is a large firm that puts us into the Detroit metropolitan area, which is exciting.”
Creative Planning has some $48 billion in total assets and works with advisors in 50 states.
“We built our practice over the past 29 years by always striving to put client interests first. We were in no rush to find a buyer,” according to Starfire President Ron Humenny.
“After discussions with twelve other firms, we found our ideal fit in Creative Planning,” Humenny added.