Headquartered in Kokomo, Indiana, Creative Financial Designs, Inc. is a financial services firm with billions of dollars in assets under management (AUM). Both individual and institutional clients make up the firm’s client base, which totals more than 7,000 clients. This advisory firm currently employs more than 100 advisors.
Creative Financial Designs is a fee-based firm, which means its compensation structure includes both client-paid fees and third-party sales commissions for things like insurance products. A fee-only firm, on the other hand, focuses the entirety of its compensation on client-paid fees.
Creative Financial Designs Background
Creative Financial Designs was founded in 1982 under the ownership of Mick Owens. Along with Kathy Owens, Mick Owens still owns part of the firm today through the Mick Owens Family Trust. Firm president, Brent Owens, also owns part of the firm through the Brent Owens Family Trust.
While Creative Financial primarily provides clients with advisory services, the firm’s affiliate, cfd Investments, Inc., offers securities and brokerage services.
Creative Financial Designs Client Types and Minimum Account Sizes
Creative Financial Designs primarily serves non-high-net-worth individuals. However, it also works with high-net-worth individuals, pension and profit-sharing plans and charitable organizations.
The firm’s minimum account sizes generally range from $10,000 to $100,000, depending on the exact services you use at the firm. $25,000 is the minimum required for the majority of services offered.
Services Offered by Creative Financial Designs
Creative Financial Designs provides the following advisory services:
- Portfolio management
- Financial planning
- Retirement planning
- Insurance analysis
- Budget construction
- Medicaid planning
- Business financial planning
- Educational seminars/workshops
Creative Financial Designs Investment Philosophy
Creative Financial’s website says its mission is to deliver unique and invaluable services to clients while providing them with quality financial products and services. Clients have access to the firm’s various investment management platforms, as well as five different asset allocation portfolios.
The firm’s investment platforms generally utilize several different types of securities, including exchange-traded funds (ETFs), mutual funds, individual equities, bonds, options, certificates of deposit (CDs) and money market funds.
Fees Under Creative Financial Designs
Advisory fees at Creative Financial Designs may generally be negotiable, varying for different programs and services. Under the firm’s brokerage management platform, clients pay asset-based fees ranging from 0.50% to 2.00% annually. The firm’s financial planning fees, however, are based on gross income. We list that fee schedule below:
| Financial Planning Fee Schedule | |||
| Gross Income | Down Payment | Monthly Fee | Total Fee Range |
| Under $50,000 | $280 | $35 | $700 - $2,000 |
| $50,000 but under $75,000 | $380 | $35 | $800 - $3,000 |
| $75,000 but under $100,000 | $480 | $35 | $900 - $4,000 |
| $100,000 but under $150,000 | $580 | $35 | $1,000 - $5,000 |
| $150,000 but under $250,000 | $680 | $35 | $1,100 - $10,000 |
| $500,000 | $780 | $35 | $2,500 - $10,000 |
Clients using the firm’s variable annuity management platform pay asset-based fees ranging from 0.50% to 1.50%. For self-directed retirement managed accounts, the firm may assess fees on a monthly basis. The monthly fee rates for these accounts range from $25 to $150 per month.
What to Watch Out For
Creative Financial Designs' Form ADV lists five regulatory action disclosures. Four of these apply to advisory affiliates of the firm, while the final one is attributed to Creative Financial Designs directly. More specifically, it refers to an SEC finding from 2020 that the firm breached its fiduciary duty in relation to its mutual fund share class selections. This disclosure resulted in a $212,300 fine, censure, disgorgement of $569,516, pre-judgment interest of $108,424 and a cease and desist order.
Advisors here can earn commission-based compensation from certain securities transactions. Because the compensation is in addition to advisory fees earned, this can create a potential conflict of interest. The firm prevents this by prioritizing each client’s best interest through its fiduciary duty.
Opening an Account With Creative Financial Designs
If you’re interested in working with Creative Financial, you’ll have several options for getting in touch. You can set up an appointment by visiting the firm’s principal location, or by contacting its phone number at (765) 453-9600. You can also contact the firm by using its online form.
All information is accurate as of the writing of this article.
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