New York, NY, January 7, 2022 – Park Sutton Advisors, LLC (“Park Sutton Advisors”) is pleased to have represented Berno Financial Management (“Berno”) on its acquisition by Creative Planning Inc. (“Creative Planning”), a leading registered investment adviser (“RIA”) with over $100 billion in assets under management and headquartered in Overland Park, Kansas. Based in Cincinnati, Ohio, Berno is a comprehensive wealth management company that provides highly personalized financial planning and investment management to high net-worth individuals and families, with approximately $300 million in assets under management. Terms of the transaction were not disclosed.
“Implementing our long-term strategic plan called for joining a firm that shared our investment philosophy and would enable us to expand the depth and breadth and quality of our personal financial planning services. Creative Planning is the best fit for us as we continue to grow our business and serve our clients for decades to come,” said Bruce J. Berno, Founder and President of Berno Financial Management.
Peter Mallouk, President and CEO of Creative Planning, comments, “Bruce has built a great practice and his planning led, tailored investment approach fits in well with our offering. Bruce and the entire Berno team will be joining our Cincinnati practice as we continue to expand in this important market.”
Dan Erichson, CFA, a Park Sutton Advisors Director, who led the deal said, “Bruce was such a tremendous client. He was incredibly thoughtful and made very clear from day one that the only acceptable partner would be one in which his clients would be even better served than they already were, a place where he knew they would be in great hands for many years to come. Bruce had great options and we are very excited to have helped him find his partner of choice.” Steven Levitt, Founder of Park Sutton added, “We are thrilled to have returned to Cincinnati for our third advised deal in the past two years and wish Bruce and his team the best of luck in their next chapter.”