Ranked third on Barron’s 2023 list of top RIA firms, Creative Planning, based in Overland Park, Kansas, has become one of the largest RIAs in the nation. Established in 1983 with just $100 million in assets, the firm has experienced tremendous growth over the years. Today, Creative Planning manages $170 billion in assets and oversees approximately $315 billion, including assets under advisement, under the leadership of founder and president Peter Mallouk. Through both organic growth and strategic acquisitions, the firm has expanded its reach and solidified its position in the wealth management industry.
In a series of strategic acquisitions, Creative Planning has further strengthened its presence in the market. Acquiring ML&R Wealth Management, Mesirow’s corporate retirement advisory unit, Kistler-Tiffany Advisors, and the former United Capital business from Goldman Sachs, the firm has demonstrated its commitment to growth and client service. Mallouk discusses the wealth management industry’s future, emphasizing the increasing need for financial advisors in a world inundated with information and misinformation. By implementing a consistent process to meet clients’ needs and expanding its local presence through M&A, Creative Planning aims to provide customized solutions and enhanced service levels to clients across various markets.
Despite investor positivity amid market uncertainty, Mallouk acknowledges the importance of financial advisors in guiding clients through complex financial landscapes. Reflecting on his experiences, including inadvertently depriving baseball legend Wade Boggs of his pre-game chicken ritual, Mallouk emphasizes the value of attention to detail and personalized service in the wealth management industry. As Creative Planning continues to grow and adapt to the evolving needs of clients, Mallouk’s insights shed light on the firm’s strategic direction and commitment to client-centric service.
