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Peter Mallouk

Industry Spotlight > Mergers and Acquisitions

Creative Planning Buys $2.5B Professional Services Firm

By Jeff Berman

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Creative Planning LLC has acquired BerganKDV, a professional services firm with about $2.5 billion in assets under management that adds 600 new employees to the Overland Park, Kansas-based registered investment advisor, it said Monday.

BerganKDV is led by CEO Dave Hinnenkamp and was founded in 1945. Over the past 78 years, the firm has “remained rooted in exceptional client service and innovative offerings,” according to Creative Planning.

During that time, it has expanded its range of business, financial and technology services to include tax and audit, accounting, business advisory and wealth management, Creative Planning said.

Financial terms of the deal weren’t disclosed.

Republic Capital Group acted as the exclusive investment banking advisor on the transaction.

Creative Planning had more than $210 billion in combined assets under management and advisement across all 50 U.S. states and 65 countries as of Dec. 31.

The company announced earlier this year the acquisition of Memphis, Tennessee-based Telarray Advisors, an RIA firm that manages $1 billion in client assets.

The addition of the BerganKDV team gives Creative Planning an “even stronger presence in the Midwest,” said Peter Mallouk, Creative Planning CEO.

BerganKDV has nine offices across five states: Iowa, Minnesota, Missouri, Nebraska and South Dakota.

“Dave and his team have always had their sights set on going beyond traditional financial, tech, and business solutions to do more for their clients, communities and team members,” Mallouk said in a statement. “Their client-centric approach is the perfect cultural fit for our ever-growing Creative Planning family.”

As BerganKDV “has evolved, we’ve always strived to fulfill our mission — to be capable of caring for our clients through their entire business, organizational and personal life cycles,” Hinnenkamp said in a statement. “Joining Peter and his Creative Planning team greatly accelerates us along our path to deliver on this mission.”

(Pictured: Peter Mallouk, Creative Planning CEO)

Jeff Berman

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