Maxwell Locke & Ritter, a Regional Leader based in Austin, Texas, has sold its wealth management practice to Creative Planning, a registered investor advisory firm in Overland Park, Kansas, effective April 1, as another accounting firm, Wright, Ford, Young & Co., chose to partner with an RIA firm, Integrative Partners, last week on a wealth management business in California.
ML&R Wealth Management has offices in Austin and Round Rock, Texas, and has been advising individuals, families, businesses and nonprofits on their financial needs for over 25 years. The deal will add 18 former ML&R employees to Creative Planning. As of Dec. 31, 2023, ML&R Wealth Management’s assets under management totaled $2.2 billion.
“We are pleased to welcome ML&R Wealth Management and their expert team into the Creative Planning fold,” said Creative Planning CEO Peter Mallouk in a statement Tuesday. “They’ve built a strong reputation as thought leaders as well as presence in the Central Texas community, constantly engaging with businesses and individuals with a breadth of insights and solutions to plan for a financially sound future.”
In conjunction with the deal, Maxwell Locke & Ritter updated its branding and
“Congratulations to ML&R Wealth Management on their recent merger with Creative Planning,” said Maxwell Locke & Ritter leading partner Kyle Parks in a statement Monday. “We’re confident in their continued success in guiding their clients toward their financial goals through this new partnership. As we celebrate our 33rd anniversary at Maxwell Locke & Ritter, we’re proud to continue our focus on our people, clients, community, and culture, which has made us the largest locally owned accounting and advisory firm in Central Texas.”
Separately last week, another accounting firm announced a partnership with a different RIA firm to create a wealth management firm. Wright, Ford, Young & Co., a firm based in Irvine, California, teamed up with Integrated Partners, based in Waltham, Massachusetts, and San Diego, California, to create WFY Wealth Management. This is the second such deal for
The new WFY Wealth Management service emerged after discussions between WFY managing partner Jeff Myers, Integrated Partners president Paul Saganey, and Brad Tedrick, who will lead WFY Wealth Management. Joining him will be another certified financial planner, Luke Schork.
“As the demand for comprehensive wealth and tax services continues to rise, WFY Wealth Management is poised to be the preferred destination for addressing these needs,” Saganey said in a statement. “With this collaboration, Wright, Ford & Young clients can now connect with seasoned wealth advisors who are ready to collaborate and offer expert guidance, addressing the intricacies of their financial lives and goals.”
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