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Creative Planning Acquires $114M AUM Rosen Capital Management

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Rosen Capital Management in Macon, Ga., announced today that it has joined Creative Planning, one of the largest and fastest growing registered investment advisers in the country. Rosen Capital Management brings $114 million in AUM and two new employees into the Creative Planning fold, including CEO Glenn Rosen.

A third-generation family business founded in 1948 as a life and health insurance agency, Rosen transitioned into a full-fledged financial planning and money management firm specializing in tax minimization strategies, wealth management, insurance and estate planning. 

“We’re excited to break deeper into the Georgia market,” said Creative Planning founder and CEO Peter Mallouk, who told WealthManagement.com that his firm has been serving the Macon area from its Atlanta office.

“Rosen takes a planning-led approach and shares our investment philosophy,” he added, “so it was a nice, natural fit for us.”

Of that philosophy, Mallouk said much of the industry has followed Creative’s lead in offering financial plans with no additional fees and combining planning with investment strategies, but that his firm doesn’t sell investments on commission or hold any proprietary funds.

“We don’t have any Creative Planning funds that we sell our clients,” he said. “I think most of the industry does things like that and we wanted to take a different approach.”

“Rosen Capital Management is a family business,” Rosen said in a statement indicating that his firm will leverage Creative’s considerable resources and talent pool to better serve clients. “We are excited to join Creative Planning and have our family grow with Peter and the rest of the team!”

With its second acquisition in just two weeks, and fourth this year, Creative Planning now manages or advises on more than $225 billion in assets across all 50 states and 65 countries. In the first quarter of 2022, Creative acquired the $100 billion AUA retirement planning firm Lockton Retirement Services—nearly doubling assets claimed at the end of last year—and has continued plans for growth throughout 2022. The acquisition of Lockton was notable as the trend towards the convergence of wealth management firms and retirement plan advisors gains traction. 

“We’re in discussions with a couple of other firms that would be pretty substantive,” Mallouk said. “I think this year we’ll make probably one bold move along the way that we think could really benefit our national mission. Otherwise, we’re becoming more selective as time goes on.”

InCap Group, an investment bank in Baltimore focused on M&A in the financial services sector, served as financial advisor to Rosen Capital Management on the transaction.