Creative Planning has agreed to take on Lockton’s $110 billion unit in a deal that includes an equity stake in the acquiring firm.
The companies will rename that business Lockton Retirement Services, an Offering of Creative Planning.
The deal substantially increases Creative Planning’s spot in the retirement plan business. Currently, Creative Planning has about $14 billion in assets under retirement plan management, with more than 100 plan clients.
Roughly 100 Lockton employees are part of the unit being merged with Creative Planning.
This is just another deal in the registered investment advisor space as deals have been continuing over the last few years.
