Headquartered in Overland Park, Kansas, Creative Planning is one of the largest financial advisor firms in the country. The fee-based firm's main services include wealth management, financial planning, estate planning, retirement planning and more.
Creative Planning has on-staff advisors who have received commendations from various financial publications. In fact, nine advisors at the firm landed on Barron's 2024 version of the Top 1,200 Financial Advisor Rankings by State list.
Creative Planning Background
Creative Planning is under the ownership of Peter Mallouk. Mallouk is the president and chief executive officer (CEO) of the firm. Although the firm was originally founded in 1983, Mallouk has led Creative Planning and its family of companies since 2004.
With more than 1,000 advisory employees, the Creative Planning team holds a number of certifications. These include Certified Financial Planner™ (CFP®), certified public accountant (CPA) and more.
Creative Planning Client Types and Minimum Account Sizes
Individuals with less than a high net worth are far and away the most common client type at Creative Planning. The firm also works with high-net-worth individuals, pension and profit-sharing plans, government entities, businesses, charitable organizations and investment vehicles.
The minimums at Creative Planning vary depending on the type of services you’re looking for. Here are the firm’s minimum requirements:
- Financial planning and portfolio management services: $500,000
- Institutional fiduciary services: $30,000 - $100,000
Services Offered by Creative Planning
Creative Planning’s services are incredibly widespread. Here’s a breakdown of what this firm can offer you:
- Private wealth management
- General investment management
- Financial planning
- Long-term financial goal planning
- Investment management
- Tax planning
- Risk management and insurance planning
- Retirement planning
- Estate planning
- Long-term care planning
- Debt management
- 401(k) services
- 401(k) and profit-sharing plan consulting
- Fiduciary services
- Plan design
- Employee education programs
- Investment committee oversight
- Plan fund performance reviews and comparisons
- Institutional services
- Tax minimization strategies
- Risk management
- Asset allocation and spending analysis
- Research and trustee education
- Portfolio liquidity management
- Grant operations assistance
- Investment policy statement (IPS) design
- Manager evaluation and selection
- Specialized services for ultra-affluent clients
Creative Planning Investment Philosophy
Creative Planning looks to tailor its investment strategies to the needs of its clientele. To do this, the firm takes stock of your ultimate financial goals. In turn, your advisory team will build an investment plan to help you reach those goals. On top of this, the firm will take into account your risk tolerance, liquidity needs and time horizon.
For the most part, Creative Planning assembles investment portfolios using stocks, exchange-traded funds (ETFs), bonds, mutual funds and alternative investments. Rather than stick to one or two specific securities, the firm will diversify your funds across a collection of investments. It does this to protect your money from harsh market crashes.
In some cases, your advisor may adjust their investment strategy. This includes special situations, like inheritances, stock options, legacy holdings and unique tax considerations.
Fees Under Creative Planning
The vast majority of fees Creative Planning charges operate on an annualized, asset-based fee schedule. In other words, the value of your portfolio dictates what rates you pay. The more assets you have invested with the firm, the lower the percentage drops.
Although the rates below are in annual percentages, the firm charges them on a quarterly basis, in arrears. Your exact payments will be based on either the fair market value or an agreed upon value of your assets on the last business day of each calendar quarter.
| Portfolio Management Fees | |
| Assets Under Management | Annual Fee |
| First $500,000 | 1.20% |
| $500,001 - $2,000,000 | 1.00% |
| $2,000,001 - $5,000,000 | 0.85% |
| $5,000,001 - $10,000,000 | 0.80% |
| $10,000,001 - $25,000,000 | 0.70% |
| $25,000,001 - $50,000,000 | 0.40% |
| $50,000,001 - $100,000,000 | 0.30% |
| Over $100,000,000 | 0.25% |
The fees associated with the firm’s financial planning services operate quite a bit differently. More specifically, if you have more than $500,000 in AUM at the firm, it will include comprehensive financial planning in with your portfolio management services. Under other circumstances, the firm will likely charge you a $1,500 to $15,000 fixed fee.
What to Watch Out For
According to its SEC-filed Form ADV, Creative Planning has one regulatory disclosure from 2018 on its record.
As a fee-based firm, some of Creative Planning's advisors are licensed as insurance agents and can earn a commission for selling certain insurance products. This can create a potential conflict of interest, though advisors must abide by clients' best interests.
Opening an Account With Creative Planning
To join forces with Creative Planning, you can either call its headquarters in Kansas at (866) 909-5148 or request a meeting online at its website.
All information is accurate as of the writing of this article.
Tips for Choosing a Financial Advisor
- Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Consider financial advisors' certifications, which can be indicative of an advisor's area of expertise and level of experience. For example, if you want some help with life insurance or estate planning, a chartered life underwriter (CLU) might be a good fit. If you're concerned about tax planning, consider a certified public accountant (CPA).
