Creative Planning is set to transform the RIA landscape with its acquisition of Lockton Companies Inc.’s retirement assets, adding $110 billion in 401(k) AUM and doubling its Overland Park, Kansas staff. The deal positions Creative Planning to compete directly with major RIAs like Edelman Financial Engines and CAPTRUST while expanding its reach into Fortune 500-style employee pensions and non-pension retirement advice. Lockton’s 500-person retirement team will join Creative Planning, creating a powerful combination of wealth management and retirement services.
The partnership allows Lockton’s clients access to holistic advice, while Creative Planning leverages Lockton’s educational programs nationwide. The merger strengthens the firm’s business model and introduces new competitive dynamics in the 401(k) and wealth management market. Experts note the move aligns retirement and wealth management, creating client acquisition opportunities and significant scale for Creative Planning, potentially reshaping its strategy and market positioning in the RIA space…