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| area_served = [[United States]]
| area_served = [[United States]]
| services = wealth management<br>financial planning<br>estate planning<br>tax planning<br>charitable giving
| services = wealth management<br>financial planning<br>estate planning<br>tax planning<br>charitable giving
| aum = {{USD|45 billion}} (2019)
| aum = {{USD|55 billion}} (2019)
| owner = Peter Mallouk
| owner = Peter Mallouk
| num_employees = 600
| num_employees = 600
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== Operations ==
== Operations ==
In February 2017, Creative Planning began plans to move its headquarters from [[Leawood, Kansas]], back to Overland Park.<ref>{{Cite news|url=https://www.kansascity.com/news/business/development/article128405779.html|title=Overland Park Council gives early thumbs up to prospective Creative Planning project|last=Vockrodt|first=Steve|date=January 24, 2017|work=The Kansas City Star|access-date=October 26, 2018|language=en}}</ref> As of March 2019, the company has 600 employees.<ref name=":2">{{Cite web|url=https://www.financial-planning.com/news/creative-plannings-peter-mallouk-acquires-the-johnston-group|title=Creative Planning could acquire 100 RIAs|last=Marsh|first=Ann|date=March 1, 2019|website=Financial Planning|language=en|access-date=May 2, 2019}}</ref>
In February 2017, Creative Planning began plans to move its headquarters from [[Leawood, Kansas]], back to Overland Park.<ref>{{Cite news|url=https://www.kansascity.com/news/business/development/article128405779.html|title=Overland Park Council gives early thumbs up to prospective Creative Planning project|last=Vockrodt|first=Steve|date=January 24, 2017|work=The Kansas City Star|access-date=October 26, 2018|language=en}}</ref> As of March 2019, the company has 600 employees.<ref name=":2">{{Cite web|url=https://www.financial-planning.com/news/creative-plannings-peter-mallouk-acquires-the-johnston-group|title=Creative Planning could acquire 100 RIAs|last=Marsh|first=Ann|date=March 1, 2019|website=Financial Planning|language=en|access-date=May 2, 2019}}</ref> As of November 2019, Creative Planning has $45 billion in assets under management.<ref>{{Cite web|last=Dornbrook|first=James|date=November 19, 2019|title=Creative Planning's latest acquisition brings $400M in assets|url=https://www.bizjournals.com/kansascity/news/2019/11/19/creative-planning-acquires-optifour-integrated.html|url-status=live|access-date=November 25, 2019|website=Business Journal}}</ref>


== Acquisitions ==
In early 2019, Creative Planning acquired The Johnston Group, a Minneapolis-based RIA, the company's first acquisition with more than $500 million assets under management.<ref>{{Cite web|url=https://www.barrons.com/articles/creative-planning-makes-first-acquisition-51551209176|title=Creative Planning Makes First Acquisition|website=www.barrons.com|language=en-US|access-date=May 2, 2019}}</ref> In November of the same year, the company announced that it had acquired OptiFour, an RIA based in [[McLean, Virginia|McLean]], [[Virginia]], managing more than $400 million in assets. As of November 2019, Creative Planning has $45 billion in assets under management.<ref>{{Cite web|url=https://www.barrons.com/articles/creative-planning-continues-down-acquisition-road-51574263287|title=Creative Planning Continues Down Acquisition Road|last=Snel|first=Ross|date=November 20, 2019|website=Barrons|language=en-US|url-status=live|access-date=November 25, 2019}}</ref><ref>{{Cite web|url=https://www.bizjournals.com/kansascity/news/2019/11/19/creative-planning-acquires-optifour-integrated.html|title=Creative Planning's latest acquisition brings $400M in assets|last=Dornbrook|first=James|date=November 19, 2019|website=Business Journal|url-status=live|access-date=November 25, 2019}}</ref>

* The Johnston Group, a Minneapolis-based RIA, acquired early 2019, adding more than $500 million assets under management.<ref>{{Cite web|url=https://www.barrons.com/articles/creative-planning-makes-first-acquisition-51551209176|title=Creative Planning Makes First Acquisition|website=www.barrons.com|language=en-US|access-date=May 2, 2019}}</ref>
* OptiFour, an RIA based in [[McLean, Virginia|McLean]], [[Virginia]], acquired November 2019, managing more than $400 million in assets. <ref>{{Cite web|last=Snel|first=Ross|date=November 20, 2019|title=Creative Planning Continues Down Acquisition Road|url=https://www.barrons.com/articles/creative-planning-continues-down-acquisition-road-51574263287|url-status=live|access-date=November 25, 2019|website=Barrons|language=en-US}}</ref>
* Stratford Consulting located in [[Addison, Texas|Addison Texas]], acquired January 2020, adding $618 million in assets under management.<ref>{{Cite web|last=Dornbrook|first=James|date=2020-01-22|title=Mallouk: Creative Planning's latest acquisition speeds path to 'really compete' in Dallas|url=https://www.bizjournals.com/kansascity/news/2020/01/22/creative-planning-mallouk-stratford-consulting.html|url-status=live|archive-url=|archive-date=|access-date=2020-09-08|website=Kansas City Business Journal}}</ref>
* Coe Financial Services, RIA located in [[Wichita, Kansas]], acquired in April 2020, adding $126 million in assets. <ref>{{Cite web|last=Dornbrook|first=James|date=2020-04-10|title=Creative Planning adds $126M in assets with Wichita acquisition|url=https://www.bizjournals.com/kansascity/news/2020/04/10/creative-planning-acquires-coe-financial-wichita.html|url-status=live|archive-url=|archive-date=|access-date=2020-09-08|website=Kansas City Business Journal}}</ref>
* Sunrise Advisors Inc., a Leawood, Kansas-based RIA, acquired in June 2020, adding $700 million in assets.<ref>{{Cite web|last=Dornbrook|first=James|date=2020-06-23|title=Creative Planning acquires Leawood firm, adds $700M in assets|url=https://www.bizjournals.com/kansascity/news/2020/06/23/creative-planning-acquires-sunrise-advisors.html|url-status=live|archive-url=|archive-date=|access-date=2020-09-08|website=www.bizjournals.com}}</ref>
* Starfire Investment Advisors, located in [[Southfield, Michigan]], acquired July 2020, adding $530 million in assets under management.<ref>{{Cite web|last=Dornbrook|first=James|date=2020-07-01|title=Creative Planning's 8th acquisition in 18 months adds $530M in assets|url=https://www.bizjournals.com/kansascity/news/2020/07/01/creative-planning-starfire-investment-advisers.html|url-status=live|archive-url=|archive-date=|access-date=2020-09-09|website=}}</ref>
* Lenox Wealth, based in [[Cincinnati]], acquired in August 2020, adding $600 million in assets.<ref>{{Cite web|last=Dornbrook|first=James|date=2020-08-12|title=Creative Planning acquires Lenox Wealth, adds $600M in assets|url=https://www.bizjournals.com/kansascity/news/2020/08/12/creative-planning-acquires-lenox-wealth.html|url-status=live|archive-url=|archive-date=|access-date=2020-09-08|website=Kansas City Business Journal}}</ref>
* Miller Investment Management, based in Overland Park, Kansas, acquired August of 2020, managing more than $150 million in assets. <ref>{{Cite web|last=Dornbrook|first=James|date=2020-08-18|title=Creative Planning buys Miller Investment Management, adds $150M in assets|url=https://www.bizjournals.com/kansascity/news/2020/08/18/creative-planning-miller-investment-management.html|url-status=live|archive-url=|archive-date=|access-date=2020-09-08|website=Kansas City Business Journal}}</ref>
* TrueWealth LLC, based in [[Atlanta]], managing more than $1.6 billion in assets at the time of acquisition in September 2020. <ref>{{Cite web|last=James|first=Dornbrook|date=2020-09-01|title=Creative Planning acquires Atlanta's TrueWealth, adding $1.6B in assets|url=https://www.bizjournals.com/kansascity/news/2020/09/01/creative-planning-truewealth-atlanta-acquisition.html|url-status=live|archive-url=|archive-date=|access-date=2020-09-08|website=Kansas City Business Journal}}</ref>


== References ==
== References ==

Revision as of 20:17, 8 September 2020

Creative Planning, Inc.
Company typePrivately held company
IndustryFinancial Services
Founded1983
Headquarters
Overland Park, Kansas
Area served
United States
Serviceswealth management
financial planning
estate planning
tax planning
charitable giving
AUMUS$55 billion (2019)
OwnerPeter Mallouk
Number of employees
600 (2019)
Websitecreativeplanning.com

Creative Planning is an independent wealth management firm and registered investment advisor owned by American financial advisor Peter Mallouk. The firm was founded in 1983 and is headquartered in Leawood, Kansas. The company provides wealth management, financial planning, estate planning, tax planning and charitable giving services to individuals and institutions.

History

Creative Planning was founded in 1983 in Overland Park, Kansas, a suburb of Kansas City, Missouri. Peter Mallouk acquired the company in 2004 after working for the firm for five years as an estate planner.[1][2] Mallouk reestablished Creative Planning as an independent wealth management firm and registered investment advisor (RIA).[3][4] At the time, the firm managed assets estimated at $34 million.[5]

By 2017, the company had grown its assets under management to $26.2 billion with advisers located in more than 30 states,[5] and clients in all 50 US states.[6]

A $200,000 fine by the U.S. Securities and Exchange Commission against the firm was the result of a series of radio advertisements heard in live and pre-recorded broadcasts by a radio show host who was a client of the firm. The host gave testimonials for the firm in violation of the Investment Advisers Act of 1940. In addition to the fine Creative Planning was censured and agreed to a cease and desist order.[7][8] Mallouk stated that he was unaware of the content of the ads. He was also fined $50,000 at the same time, for a failure to report investments by family members in the firm.[9]

Operations

In February 2017, Creative Planning began plans to move its headquarters from Leawood, Kansas, back to Overland Park.[10] As of March 2019, the company has 600 employees.[11] As of November 2019, Creative Planning has $45 billion in assets under management.[12]

Acquisitions

  • The Johnston Group, a Minneapolis-based RIA, acquired early 2019, adding more than $500 million assets under management.[13]
  • OptiFour, an RIA based in McLean, Virginia, acquired November 2019, managing more than $400 million in assets. [14]
  • Stratford Consulting located in Addison Texas, acquired January 2020, adding $618 million in assets under management.[15]
  • Coe Financial Services, RIA located in Wichita, Kansas, acquired in April 2020, adding $126 million in assets. [16]
  • Sunrise Advisors Inc., a Leawood, Kansas-based RIA, acquired in June 2020, adding $700 million in assets.[17]
  • Starfire Investment Advisors, located in Southfield, Michigan, acquired July 2020, adding $530 million in assets under management.[18]
  • Lenox Wealth, based in Cincinnati, acquired in August 2020, adding $600 million in assets.[19]
  • Miller Investment Management, based in Overland Park, Kansas, acquired August of 2020, managing more than $150 million in assets. [20]
  • TrueWealth LLC, based in Atlanta, managing more than $1.6 billion in assets at the time of acquisition in September 2020. [21]

References

  1. ^ Kapur, Saranya (April 10, 2013). "Fastest Growing RIA: Creative Planning". Forbes. Retrieved October 25, 2018.
  2. ^ Garmhausen, Steve (August 24, 2013). "The Indie 100". Barron's. Retrieved October 25, 2018 – via The Wall Street Journal.
  3. ^ Montgomery, Jeff (January 29, 2018). "Veteran wealth adviser opens new Dubuque office". Dubuque Telegraph Herald. Retrieved October 25, 2018.
  4. ^ Dumay, Jan (December 2015). "Money Talks". 435 Magazine. Retrieved October 26, 2018.
  5. ^ a b Thomas Jr., Landon (June 21, 2017). "A Kansas Investment Firm Spurring Change on Wall Street". The New York Times. Retrieved October 25, 2018.
  6. ^ Davis, Mark (July 13, 2016). "Financial writer Jonathan Clements joins Leawood-based Creative Planning". The Kansas City Star. Retrieved October 26, 2018.
  7. ^ Davis, Mark (September 19, 2018). "JoCo investment adviser fined $200K for radio ads with forbidden testimonials". Kansas City Star. Retrieved November 19, 2018.
  8. ^ "In the Matter of CREATIVE PLANNING, INC. AND PETER A. MALLOUK, Respondents" (PDF). U.S. Securities and Exchange Commission. September 18, 2018. Retrieved November 19, 2018.
  9. ^ Mallouk, Peter (September 18, 2018). "After settling with the SEC for $250,000 over two compliance issues, Peter Mallouk explains what he quietly and painfully experienced as his RIA grew from $15 billion to $36 billion". RIABiz. Retrieved November 19, 2018.
  10. ^ Vockrodt, Steve (January 24, 2017). "Overland Park Council gives early thumbs up to prospective Creative Planning project". The Kansas City Star. Retrieved October 26, 2018.
  11. ^ Marsh, Ann (March 1, 2019). "Creative Planning could acquire 100 RIAs". Financial Planning. Retrieved May 2, 2019.
  12. ^ Dornbrook, James (November 19, 2019). "Creative Planning's latest acquisition brings $400M in assets". Business Journal. Retrieved November 25, 2019.{{cite web}}: CS1 maint: url-status (link)
  13. ^ "Creative Planning Makes First Acquisition". www.barrons.com. Retrieved May 2, 2019.
  14. ^ Snel, Ross (November 20, 2019). "Creative Planning Continues Down Acquisition Road". Barrons. Retrieved November 25, 2019.{{cite web}}: CS1 maint: url-status (link)
  15. ^ Dornbrook, James (January 22, 2020). "Mallouk: Creative Planning's latest acquisition speeds path to 'really compete' in Dallas". Kansas City Business Journal. Retrieved September 8, 2020.{{cite web}}: CS1 maint: url-status (link)
  16. ^ Dornbrook, James (April 10, 2020). "Creative Planning adds $126M in assets with Wichita acquisition". Kansas City Business Journal. Retrieved September 8, 2020.{{cite web}}: CS1 maint: url-status (link)
  17. ^ Dornbrook, James (June 23, 2020). "Creative Planning acquires Leawood firm, adds $700M in assets". www.bizjournals.com. Retrieved September 8, 2020.{{cite web}}: CS1 maint: url-status (link)
  18. ^ Dornbrook, James (July 1, 2020). "Creative Planning's 8th acquisition in 18 months adds $530M in assets". Retrieved September 9, 2020.{{cite web}}: CS1 maint: url-status (link)
  19. ^ Dornbrook, James (August 12, 2020). "Creative Planning acquires Lenox Wealth, adds $600M in assets". Kansas City Business Journal. Retrieved September 8, 2020.{{cite web}}: CS1 maint: url-status (link)
  20. ^ Dornbrook, James (August 18, 2020). "Creative Planning buys Miller Investment Management, adds $150M in assets". Kansas City Business Journal. Retrieved September 8, 2020.{{cite web}}: CS1 maint: url-status (link)
  21. ^ James, Dornbrook (September 1, 2020). "Creative Planning acquires Atlanta's TrueWealth, adding $1.6B in assets". Kansas City Business Journal. Retrieved September 8, 2020.{{cite web}}: CS1 maint: url-status (link)
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