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Creative Planning Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

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).

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research