Headquartered in Kokomo, Indiana, Creative Financial Designs, Inc. is a financial services firm with nearly $1.1 billion in assets under management (AUM). Both individual and institutional clients make up the firm’s client base, which totals to more than 7,600 clients. The fee-based advisory firm currently has about 170 advisors.
Creative Financial Designs, Inc. Background
Creative Financial was founded in 1982 under the ownership of Brent Owens Family Trust and Mick Owens Family Trust. The firm’s founder is Mick Owens, and its president is Kregg Rooze. While Creative Financial primarily provides clients with advisory services, the firm’s affiliate, cfd Investments, Inc., offers securities and brokerage services.
Creative Financial Designs, Inc. Client Types and Minimum Account Sizes
Creative Financial serves individuals and high-net-worth individuals, bank and thrift institutions, pension and profit sharing plans, business entities and charitable organizations.
The firm’s minimum account sizes generally range from $10,000 to $100,000.
Services Offered by Creative Financial Designs, Inc.
Creative Financial provides the following advisory services:
- Portfolio management
- Financial planning
- Market timing
- Educational seminars/workshops
Creative Financial Designs, Inc. 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, Inc.
Advisory fees at Creative Financial are generally negotiable, varying for different programs and services. Under the firm’s brokerage management platform, clients pay asset-based fees ranging from 0.50% to 2.50% annually. For self-directed retirement managed accounts, the firm may assess fees on a monthly basis in arrears. The monthly fee rates for these accounts range from $15 to $250 per month. For the firm’s passive management strategy, it charges at a rate of $45, $90 or $135 per quarter.
Clients using the Creative Financial’s variable annuity management platform pay asset-based fees ranging from 0.50% to 2.0%. The firm’s financial planning fees, however, are based on gross income. We’ve listed that fee schedule below.
Financial planning fee schedule:
|Gross Income||Down Payment||Monthly Amount||Fee Range|
|$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|
|$250,000 and above||$780||$35||$1,200-20,000|
Clients may encounter other fees which are in addition to advisory fees. These include but aren’t limited to markups, transfer taxes, exchange fees, custodial fees, retirement account fees and variable annuity fees and expenses.
What to Watch Out For
Advisors can earn commission-based compensation from certain securities transactions. Because the compensation is in addition to advisory fees earned, this can create a conflict of interest if firm professionals neglect client needs for personal gain. The firm says it prevents this by prioritizing each client’s best interest.
The firm’s Form ADV lists four regulatory action disclosures, but the exact violations for each aren’t specified.
Opening an Account With Creative Financial Designs, Inc.
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 toll-free number at (800) 745-7776. You can also contact the firm via email.
Tips for Finding a Financial Advisor
- While it’s important to find a financial advisor that’s most suitable for your goals, it’s even more important to make sure they prioritize your wealth planning needs. A fiduciary financial advisor is one that is legally required to act in your best interest. This is a useful distinction to make as you narrow down your search.
- Connecting with the right advisor shouldn’t be challenging. Our financial advisor matching tool pairs you with up to three local advisors suitable to your needs. You’ll simply need to complete a short questionnaire about your financial situation, and the free tool will do the rest.
All information was accurate as of the writing of this article.