Creative Planning adds $600 million RIA

Creative Planning, an Overland Park, Kansas-based registered investment adviser managing $100 billion, has acquired Paradigm Financial Advisors, an RIA managing $600 million in Des Peres, Missouri.

Paradigms advanced planning expertise and plans to hire additional attorneys and accounts will be used to accelerate growth and to create a new hub in St. Louis that will provide estate planning, tax planning and tax preparation services for Creative Planning clients in the Midwest, the company said in a release.

Jim Reding, the owner of Paradigm, has become an equity partner with Creative Planning and he will serve as managing director of the St. Louis office.

In January, Creative Planning continued its buying spree, announcing the purchase of Reilly Financial Advisors, a registered investment advisory firm in La Mesa, California, with $2 billion in assets under management. The firm bought a $300 million Ohio RIA earlier last month and an $800 million AUM Illinois advisory firm in late November. In early November, Creative Planning bought Lockton Retirement Services 401(k) business.

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