Friday, March 10, 2023
HomeLife InsuranceArtistic Planning Buys $1B Memphis RIA Agency

Artistic Planning Buys $1B Memphis RIA Agency

What You Must Know

  • Artistic Planning’s buy of Memphis, Tennessee-based Telarray brings 18 new workers to Artistic Planning.
  • As of Dec. 31, Artistic Planning managed or suggested on greater than $225 billion in belongings throughout all 50 states and 65 nations.
  • The RIA agency has plans for continued development all through 2023, it stated.

Artistic Planning says it has acquired Memphis, Tennessee-based Telarray Advisors, an RIA agency that manages $1 billion in shopper belongings.

The deal brings 18 Telarray workers — all advisors — to Overland Park, Kansas-based RIA Artistic Planning, becoming a member of Artistic Planning’s roughly 430 advisors throughout all places of work.

Telarray has been serving its purchasers throughout the U.S. since 2005, dealing with a large portfolio of investments. It affords companies for everybody from these simply starting their funding journeys to senior company leaders with sophisticated compensation packages, in keeping with Artistic Planning.

Telarray makes a speciality of retirement planning, property planning, investing, tax administration methods, govt compensation and threat administration. It has traditionally operated as a fee-only fiduciary.

Phrases of the deal weren’t disclosed. However Peter Mallouk, Artistic Planning CEO, informed ThinkAdvisor on Thursday that the transaction was finalized in January. “Telarray retained an funding banker that introduced them to Artistic,” he stated.

The addition of the Telarray group “will assist us break deeper into the Tennessee market,” in keeping with Mallouk. It “offers us a powerful presence in Memphis, which we didn’t have earlier than.”

Artistic Planning first entered Tennessee seven years in the past, in Nashville, Mallouk informed ThinkAdvisor, noting his firm had solely two advisors within the state, each in Nashville, earlier than the most recent acquisition. There’s “no overlap” in places of work between Artistic Planning and Telarray, he stated, including that Telarray’s identify has already been modified to Artistic Planning.



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments