Creative Planning continues to add firms, announcing earlier this week that Monterey Private Wealth joined its platform. The Monterey, California-based firm has more than $1 billion in client assets, according to a news release.
“The Monterey Private Wealth team exemplifies the relationship-focused approach that has been the primary driver of Creative Planning’s success, and we’re thrilled to welcome them to the team,” said Peter Mallouk, President and CEO of Creative Planning. “Their established reputation for client-centered financial guidance and their deep community connections perfectly complement our approach to comprehensive wealth management.”
The firm’s CFO Gary Alt and CIO Steven Merrell co-founded Monterey Private Wealth, and Cristofer Cabanillas is the President and CEO. The deal closed on March 31.
“We’ve always prioritized building meaningful relationships and providing customized financial guidance,” said Cabanillas, who is also a Partner with the firm. “This partnership enhances our ability to deliver an even more robust suite of services to our clients while maintaining the trusted personalized attention they have come to expect.”
The transaction is Creative Planning’s largest deal to date in 2025. In January, it acquired Maxwell Wealth Strategies, a Pleasanton, California, firm managing over $290 million, and it announced acquisitions of Kowal Investment Group and Krivoshein | McDaniels Financial, which were completed in December and October, respectively.
Last September, asset manager TPG bought a minority stake in Creative Planning, joining General Atlantic, which made a minority investment in the firm in 2020. Based in Overland Park, Kansas, Creative Planning had over $354 billion in combined assets under management and advisement as of Dec. 31.
Echelon Partners served as the advisor to Monterey Private Wealth on this transaction.
Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at michael.madden@wealthsolutionsreport.com.
