Creative Planning Adds $1 Billion to Memphis RIA

Creative Planning made its first acquisition since August, adding $1 billion worth of Telarray Advisors.

Telarray, based in Memphis, Tennessee, dates back to 2005 and has 18 employees, all of whom will join Creative Planning, a $225 billion RIA based in Overland Park, Kansas.

“Creative Planning is thrilled to have enlisted the Telarray team to help us deepen our penetration of the Tennessee market,” Creative Planning chief executive Peter Mallook said in a statement.

“It was clear from the start of our discussions that Telarray’s attention to detail, prioritization of customer needs and overall work ethic would be a great addition to our team,” he added.

Richard Paessler, President and CEO of Telarray, described the “partnership” with Creative Planning as a “perfect match”.

“We were looking for a firm that would fit with our planning philosophy, culture, employee empowerment, and that would immediately expand our service offering to both our existing and future clients,” he said. “A creative partner is a partner and we are happy to be part of the team.”

Passler was appointed president of Telarray in 2017 after joining the firm five years earlier as chief compliance officer and chief marketing officer.

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