Peter Mallouk, president and CEO of Creative Planning, details the company’s 10 years of organic growth, which saw the firm boost assets from about $30 million 10 years ago to roughly $12 billion to $15 billion.
He says M&A criteria have tightened as the firm’s footprint has expanded, resulting in acquiring only 2% to 3% of the 150 to 300 firms he may speak with annually.
Mallouk also describes spending 50% to 75% of his time with clients and prospects to stay close to issues, tools and advisor credibility.
He discusses artificial intelligence as both an efficiency enabler and future competitor, and notes that partner liquidity has occurred without an IPO. He also shares optimism about integrating retirement and wealth services.
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