Creative Planning Buys $2.2B Wealth Manager in Texas

Creative Planning says it has acquired Maxwell Locke & Ritter Wealth Management, a $2.2 billion wealth management firm with offices in Austin and Round Rock, Texas.

ML&R Wealth Management has been advising individuals, families, businesses and non-profits for more than 25 years. The deal closed on April 1, with 18 ML&R employees joining Creative Planning.

With the latest purchase and six big deals struck in 2023, Creative Planning’s combined assets under management and advisement now surpass $300 billion.

Peter Mallouk, CEO of Creative Planning, said ML&R stands out for its strong reputation in the region and for “constantly engaging with businesses and individuals with a breadth of insights and solutions to plan for a financially sound future.”

ML&R Wealth Management’s methodology, according to Creative Planning, involves a holistic approach across investment management, financial planning and risk mitigation — allowing the firm to create tailored strategies that align with client’s needs and aspirations.