Creative Planning has bought the RIA Thun Financial Advisors, a $600 million advisory firm based in Madison, Wisconsin, that specializes in working with U.S. investors who live overseas.
While earlier deals have helped Creative Planning expand its operations nationwide, the purchase of Thun is “more strategic,” CEO Peter Mallouk told ThinkAdvisor on Tuesday.
Much of the Thun’s business is focused on serving U.S. investors now living outside the country, which is a market Creative Planning wants to expand into, particularly because it includes investment and tax work.
Thun President David Kuenzi first met Mallouk a couple of years ago. But it wasn’t until earlier this year that Kuenzi spoke with the CEO of Creative Planning again, after hearing him on a podcast. “We talked and made a deal,” Mallouk said.