WILMINGTON – Independent registered investment advisory firm Daniels + Tansey has been acquired by Creative Planning, a well-known mega firm that has been growing quickly in recent years.
Headquartered in the Delle Donne Corporate Center, partners Christopher “Kit” Daniels and DeVon Daniels founded Daniels + Tansey in 2001. The firm specializes in integrated financial advisory, tax services, and investment management for individuals, families, and small businesses across the entire wealth spectrum, from accumulation and preservation to generational transfer.
According to the firm’s latest Securities and Exchange Commission filing in March, Daniels + Tansey has nine employees, including six financial advisors. It had about $535 million in assets under management (AUM), primarily from high-net-worth individuals, but also some pensions, charitable organizations and corporate clients.
The terms of the deal between Daniels + Tansey and Creative Planning, headquartered in Overland Park, Kansas, were not disclosed in a Nov. 28 announcement.
“Our combination with Creative Planning isn’t a culmination of our life’s work, it’s the beginning of a tremendous future,” Kit and DeVon Daniels said in a statement. “We have focused on delivering innovative, personalized services to our valued clients over our four-plus decades. Now, we have the opportunity to do so much more, and we’re energized to get to work.”
Creative Planning, headquartered in Overland Park, Kansas, reportedly has more than $280 billion in combined assets under management and advisement with more than 2,300 advisors across all 50 states and 65 countries. It is the No. 3 ranked registered investment advisory firm, according to Barron’s.
It has grown substantially since CEO Peter Mallouk acquired the firm in 2004, with the most explosive spat of growth occurring since 2019. The firm’s AUM have grown nearly tenfold in the last decade, with that growth occurring without the backing of private equity.
“We are delighted to extend a warm welcome to the accomplished team at Daniels + Tansey as they become part of the Creative Planning family,” Mallouk said in a statement. “Their team of industry experts is dedicated to delivering comprehensive wealth solutions with a personal touch, a philosophy that aligns seamlessly with Creative Planning’s values.”
Daniels + Tansey operates as a cohesive ‘ensemble’ firm, offering financial advisory, tax planning, and investment management services. The firm was named by Citywire as the fastest-growing registered investment advisor in Delaware in 2021 and ranked third statewide in 2022 after growing its AUM by nearly 20%.
“We’re excited about what our partnership with Creative Planning brings to our business and especially our clients,” Chris Daniels, managing director of Daniels + Tansey, said. “By combining a comprehensive national platform with our 40-year relationship with the community, we are now able to offer the Delaware Valley’s premier, full-service tailored wealth management experience. We’re looking forward to the opportunity to simplify financial complexity and build successful wealth journeys for clients throughout the region.”
