Creative Planning

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Creative Planning, Inc.
Privately held company
IndustryFinancial Services
Founded1983
Headquarters
AUMUS$32 billion
OwnerPeter Mallouk
Number of employees
450 employees
Websitecreativeplanning.com

Creative Planning, Inc. 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. As of the end of 2017, Creative Planning has $32 billion in assets under management.[1]

History[edit]

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 a estate planner.[2][3] Mallouk reestablished Creative Planning as an independent wealth management firm and registered investment advisor.[1][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] In February 2017, Creative Planning began plans to move its headquarters from Leawood, Kansas, back to Overland Park.[7] As of January 2018, Creative Planning has 450 employees.[1]

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.[8][9] 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.[10]

References[edit]

  1. ^ a b c Montgomery, Jeff (January 29, 2018). "Veteran wealth adviser opens new Dubuque office". Dubuque Telegraph Herald. Retrieved October 25, 2018.
  2. ^ Kapur, Saranya (April 10, 2013). "Fastest Growing RIA: Creative Planning". Forbes. Retrieved October 25, 2018.
  3. ^ Garmhausen, Steve (August 24, 2013). "The Indie 100". Barron's. Retrieved October 25, 2018 – via The Wall Street Journal.
  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. ^ 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.
  8. ^ Davis, Mark (September 19, 2018). "JoCo investment adviser fined $200K for radio ads with forbidden testimonials". Kansas City Star. Retrieved November 19, 2018.
  9. ^ "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.
  10. ^ 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.

External links[edit]