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Creative Planning Announces 12th Deal in as Many Months

The wealth management firm has acquired Starfire Investment Advisers, a Southfield, Mich.-based RIA with about $530 million in assets under management.

Overland Park, Kan.-based Creative Planning, a registered investment advisor with about $48 billion in client assets, has acquired Starfire Investment Advisers, an RIA in Southfield, Mich., with about $530 million in assets under management. This is Creative Planning’s 12th deal in as many months.

Starfire was founded in 1991 by Ron Humenny, specializing in financial planning and investment management.

“We were in no rush to find a buyer,” Humenny said, in a statement. “We sought the perfect partner. Thoroughly investigating all potential suitors was imperative. We sought a firm that shared our client-centric focus and fiduciary values. After discussions with 12 other firms, we found our ideal fit in Creative Planning.” 

Creative Planning Founder Peter Mallouk had long relied on referrals and other organic methods to grow the firm. But a little over a year ago, he shifted to making acquisitions, making his first purchase with The Johnston Group. The firm has since made 11 other deals.

Mallouk recently spoke with about the latest acquisition, prior to Starfire, of Kansas City,  Kan.-based Sunrise Advisors, as well as his M&A strategy and plans to re-up on television advertising.

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