Creative Planning President Peter Mallouk. Creative Planning CEO Peter Mallouk

Creative Planning has acquired RIA Lenox Wealth Management of Cincinnati, Ohio, which has some $600 million of assets under management.

The news comes about a month after it bought Thun Financial Advisors, a $600 million RIA in Madison, Wisconsin, focused on U.S. investors who live overseas.

“Creative Planning has a substantive presence in Cincinnati already, and with Lenox joining the team, we will be working with hundreds of families in the area with well over a billion [dollars] in assets,” according to CEO Peter Mallouk. 

Overall, the RIA aggregator manages over $50 billion in assets in 50 states.

“Our goal is to become the number one choice for individuals seeking independent wealth management in Cincinnati and throughout the country,” Mallouk added.

Related: Peter Mallouk Tells ‘The Mooch’ Why Private Equity Loves RIAs

According to Lenox CEO John Lame, the group was founded 20 years ago “to better serve the Procter & Gamble and Cincinnati communities by creating an independent, fee only, multi-family office platform.”

The tie-up with Creative Planning should “preserve our heritage as fiduciaries, expand our menu of services, and provide the technology and scale for our advisors to provide the best in class advice and service available for years to come,” Lame explained in a statement.

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