Key Takeaways
- • Creative Planning has agreed to acquire RVK, a Portland, Oregon-based institutional investment consulting firm advising on approximately $4.3 trillion in assets, according to an announcement made Tuesday.
- • RVK has about $828 million in regulatory assets under management per its Form ADV filings and serves roughly 200 institutional clients, including retirement plans, foundations, endowments, health systems and insurance companies.
- • The deal is expected to close in January, and additional financial terms were not disclosed.
- • RVK's chair, CIO and CEO-led management team will remain in their roles after closing, with Josh Kevan leading the firm.
- • The acquisition would substantially expand Creative Planning's institutional reach, a firm overseeing roughly $780 billion in total assets, including about $485 billion under advisement.
Summary
Serial RIA acquirer Creative Planning has struck a deal to buy RVK, a Portland, Oregon-based institutional investment consulting firm advising on approximately $4.3 trillion in assets, according to an announcement made Tuesday. RVK, founded 40 years ago, advises around 200 customers, including retirement plans, foundations and endowments, health systems and insurance companies. According to its Form ADV filings, the firm has around $828 million in regulatory assets under management. The transaction is expected to close in January.
The acquisition could significantly expand Creative Planning's institutional footprint. The firm oversees around $780 billion in assets, including around $485 billion under advisement. In a statement, President and CEO Peter Mallouk said the combination would bring "even greater scale, resources and insight to institutions navigating increasingly complex investment and governance decisions."
RVK is majority owned by Chair Rebecca A. Gratsinger and Chief Information Officer Scott P. Gratsinger, with additional equity held by employees. The firm is led by Josh Kevan, who replaced Rebecca Gratsinger as CEO last year. All three will remain in their roles after the deal closes, according to the announcement. Additional deal terms were not disclosed.
The transaction reflects a broader push by RIAs and wirehouses into retirement plan and institutional channels, which are viewed as potential sources of client referrals for retail advisors. Mallouk previously told a trade publication that Creative Planning is building a "bridge from wealth to retirement and retirement to wealth." The firm recently purchased SageView Advisory Group, a California-based retirement aggregator overseeing around $250 billion across 11,800 plans. In 2023, it acquired a $13 billion-AUA advisory business from Mesirow Financial Holdings, and in 2021 it purchased Lockton Retirement Services with around $110 billion under advisement.
Creative Planning is majority-owned by Mallouk, who bought the firm in 2004 when it oversaw around $34 million. Its acquisition strategy has been funded in part by minority stake sales to private equity firm General Atlantic and alternative asset manager TPG Capital.
The acquisition could significantly expand Creative Planning's institutional footprint. The firm oversees around $780 billion in assets, including around $485 billion under advisement. In a statement, President and CEO Peter Mallouk said the combination would bring "even greater scale, resources and insight to institutions navigating increasingly complex investment and governance decisions."
RVK is majority owned by Chair Rebecca A. Gratsinger and Chief Information Officer Scott P. Gratsinger, with additional equity held by employees. The firm is led by Josh Kevan, who replaced Rebecca Gratsinger as CEO last year. All three will remain in their roles after the deal closes, according to the announcement. Additional deal terms were not disclosed.
The transaction reflects a broader push by RIAs and wirehouses into retirement plan and institutional channels, which are viewed as potential sources of client referrals for retail advisors. Mallouk previously told a trade publication that Creative Planning is building a "bridge from wealth to retirement and retirement to wealth." The firm recently purchased SageView Advisory Group, a California-based retirement aggregator overseeing around $250 billion across 11,800 plans. In 2023, it acquired a $13 billion-AUA advisory business from Mesirow Financial Holdings, and in 2021 it purchased Lockton Retirement Services with around $110 billion under advisement.
Creative Planning is majority-owned by Mallouk, who bought the firm in 2004 when it oversaw around $34 million. Its acquisition strategy has been funded in part by minority stake sales to private equity firm General Atlantic and alternative asset manager TPG Capital.
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