![]() In February 2020, Creative Planning accepted its first outside capital when it sold a minority stake in the firm to General Atlantic, a private equity firm. ![]() Stratford Consulting in Addison, Texas, was acquired January 2020, adding $618 million in assets under management. OptiFour, which is based in McLean, Virginia, and manages $400 million in assets, was acquired in November 2019. Creative Planning then acquired America’s Best 401k, a firm which manages in $1 billion in assets and specializes in low-fee model 401(k)s. In February 2019, the acquisition of The Johnston Group, a Minneapolis-based RIA with more than $500 million assets under management, was the first for the company. In November 2021, Creative Planning announced that it surpassed $100 billion in assets under management. The Pathway Financial Education Center is located in the historic jazz district of 18th and Vine in Kansas City. Īlso in 2021, Creative Planning launched Pathway Financial Education, a nonprofit organization that provides free financial education and training to small-business owners and other individuals in under-resourced communities. As a result, 10% of employees (86 individuals) gained partial ownership in the firm. In 2021, the firm began offering key employees the opportunity to acquire equity in the company. In the same year, Creative Planning also donated $1 million to Kansas City-based Harvesters – The Community Food Network to provide food to those who are food insecure in northwestern Missouri and northeastern Kansas. In 2020, the firm announced it would donate $12 million over 18 months to organizations that support social justice reform, access to education, financial literacy and basic needs. He was also fined $50,000 at the same time, for a failure to report investments by family members in the firm. Mallouk stated that he was unaware of the content of the ads. In addition to the fine, the firm was censured and agreed to a cease and desist order. The host gave testimonials for the firm in violation of the Investment Advisers Act of 1940. 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. īy 2017, the company had grown its assets under management to $26.2 billion with advisers located in more than 30 states, and clients in all 50 US states. That same year Barron’s ranked Creative Planning #1 on their list of the Top RIA Firms. In 2015, Creative Planning was named #1 on the Top 100 Fee-Only Wealth Management Firms by CNBC. At the time, the firm managed assets estimated at $34 million. ![]() Mallouk removed Creative Planning's dual registration so it could operate solely as an independent wealth management firm and registered investment advisor (RIA). ![]() Peter Mallouk acquired the company in 2004 after working for the firm for five years as an estate planner. The company provides wealth management services for individuals, businesses and institutions, including investment management, financial planning, estate planning, tax planning, trust services, tax preparation and charitable giving services.Ĭreative Planning was founded in 1983 in Overland Park, Kansas, a suburb of Kansas City, Missouri. The firm was founded in 1983 and is headquartered in Overland Park, Kansas. Creative Planning is an independent wealth management firm and registered investment advisor majority owned by American financial advisor Peter Mallouk. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |