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Peter Mallouk's Employees Take Equity in Creative Planning Some 10% now have a stake in the fast-growing RIA. 'We anticipate that the percentage that’s owned by employees should increase every year from now and ongoing,' Mallouk said. Creative Planning Chief Executive Peter Mallouk opened equity to employees inside the fast-growing registered investment advisory firm, with 10% of the workforce, or some 86 people, now partial owners, according to a company announcement. Mallouk would not reveal the names of the firm's new principals but said it was largely those with long te...

Demand for RIA talent drives compensation higher: Schwab Latest benchmarking study shows compensation representing 74% of RIA expenses and growing by 4% annually. February 25, 2021 4 MINS The rapid expansion of the wealth management industry is driving registered investment advisers to poach talent from their competitors, according to the latest installment of the Schwab RIA Compensation Report. Among the findings in the report, which is part of Schwab’s ongoing RIA Benchmarking research, it shows that RIAs, at nearly 40%, represent the most popular source of employee ...

The $603 billion Wells Fargo Asset Management business is being acquired by two private equity firms, GTCR and Reverence, for $2.1 billion.

The unquenchable thirst for wealth management With M&A in the RIA space setting records, the focus turns naturally to the seemingly irreversible influence of private equity money. February 22, 2021 8 MINS With $5 billion in assets under management and nine acquisitions under its belt, some might assume Merit Financial Advisors is hitting all the right notes for building scale in the modern wealth management industry. In reality, the 22-year-old advisory firm has reached the level at which the deep-pocketed world of private equity capital and expertise steps in to rocket ...

Living the ‘lifestyle practice’ dream Why a 64-year-old RIA doesn't worry about building scale and has no plans to retire, even though he could fetch about $5 million for his firm in today’s white-hot market. February 12, 2021 3 MINS More than a decade of record-breaking merger and acquisition activity across the wealth management industry means nothing to Ken Van Leeuwen, because the 64-year-old owner of a $300 million advisory firm is happy right where he is. In the parlance of industry analysts, Princeton, New Jersey-based Van Leeuwen & Co. is known as a lifesty...