|Privately held company|
|AUM||US$39 billion (2019)|
Number of employees
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.
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. Mallouk reestablished Creative Planning as an independent wealth management firm and registered investment advisor (RIA). At the time, the firm managed assets estimated at $34 million.
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. 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.
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. As of April 2019, Creative Planning has $39 billion in assets under management.
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