Advisory M&A

Creative Planning Acquires CTB Financial Services

Creative Planning has acquired CTB Financial Services Ltd., a registered investment adviser based in Minneapolis.

By incorporating CTB’s offerings, Overland Park, Kansas-based Creative Planning intends to enhance its provision of tax-efficient investment strategies and expand its geographic reach.

“We are excited to welcome CTB Financial Services into the Creative Planning family,” Peter Mallouk, Creative Planning’s CEO, said in a statement. “Their proven proficiency in wealth management and tax planning aligns with our mission of offering holistic, client-centric financial solutions.”

Creative Planning’s previous acquisition took place in June, when it acquired BerganKDV, a professional services firm headquartered in Bloomington, Minnesota. As of December 31, 2022, Creative Planning has $210 billion in combined assets under management.

TFS Wealth Management Joins Pensionmark as a World Insurance Associates LLC Company

World Insurance Associates LLC announced it has entered into an agreement to purchase Tomorrow’s Financial Services Inc., based in Lincroft, New Jersey.

TFS will join Pensionmark, World’s financial services division led by CEO Troy Hammond. The acquisition brings an additional $5.5 billion of wealth assets under management and increases the number of financial advisers in the network to 307.

Founded in 1968, TFS offers a comprehensive suite of services for financial planners and wealth management advisers. Included in the acquisition are TFS Securities Inc., TFS Insurance Agency Inc. and TFS Mortgage Corp. Inc.

Thomas Hyland will continue in his leadership role as the president of TFS, and the TFS management and staff team will remain in place.

Hightower Facilitates Highland Private Wealth’s Sub-Acquisition of Trellis Advisors

Hightower announced it facilitated a sub-acquisition on behalf of Highland Private Wealth Management, its advisory business based in Bellevue, Washington, of Trellis Advisors LLC.

An RIA firm based in Ellensburg, Washington, Trellis oversees more than $470 million in assets under management, bringing Highland’s total AUM to $1.9 billion.

Trellis hopes to achieve scale by connecting with Hightower’s back- and middle-office functions. Hightower offers 135 advisory businesses in 35 states. As of June 30, Hightower’s assets under management were approximately $131 billion.

“We have known Highland for years, and we have similar core values of integrity and objectivity,” Ray Gilmour, founder of Trellis, said in a statement. “We both take a holistic approach to comprehensive wealth planning for our clients and offer parallel services to build and nurture a client service offering that can adapt to evolving needs.”

Apollon Wealth Management Brings in Piershale Financial Group

Apollon Wealth Management has added Piershale Financial Group, based in the Greater Chicago region with $270 million in assets under management.

Piershale, which will now do business as Piershale Financial Group of Apollon, is led by Michael Piershale, the company president with more than 30 years of industry experience. Wealth advisers Ben Barzideh and Matt Nadeau will also join Apollon.

“We are looking forward to growing our firm within the Apollon family and continuing to provide our clients with the excellent customer service they have come to know, supported by Apollon’s resources,” Piershale said in a statement.

Apollon is a leading full-service wealth management firm and will provide Piershale clients with access to its technology, investment solutions and service team.