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Articles tagged "Peter Mallouk"


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Peter Mallouk: We are wide open [to bigger deals] there’s no upper limit.

Tight with Goldman Sachs and light on debt, Peter Mallouk sets 'no upper limit' on 2025 M&A ambitions and is 'very interested' in buying super-peer RIAs worth billions

The Creative Planning CEO put Goldman's PFIM under contract one year ago, and merger experts say the firm's exceptional buying power -- low debt and high cash flow -- puts any RIA into play for him.

August 24, 2024 at 2:07 AM

Bernie Clark: The 'join' deals are now twice the 'start' deals.

Bernie Clark's parting remarks -- webcast and media -- center on Schwab's outsized symbiosis with national W-2 RIAs; he declines to 'name names' of ones he doesn't love but names some he does

The exit-bound Schwab RIA chief, never one to offend, says his company's net new assets depend on the aggregators 2-to-1 over RIA startups, but some are choosing a counterproductive path

June 1, 2024 at 12:48 AM

Peter Mallouk: We would consider another custodian.

Peter Mallouk is exploring new RIA custody vendor for his $300-billion firm, despite new Fidelity referral deal; this time around upstart brands are in the running

The founder and CEO of the national RIA in Kansas was tight with TD Ameritrade and says although no 'dominant' No. 3 custodian has emerged he is optimistic that it's imminent.

May 9, 2024 at 1:31 AM

Peter Mallouk: Advisors can use GSAM like they work there -- at a very in-house price.
February 16, 2024 at 2:40 AM

David Solomon: With our clear and simplified strategy, we have a much stronger platform for 2024.

Goldman Sachs salvages $349-million 'gain' from its United Capital misadventure that may also be a $400-million haircut

The New York City investment bank managed a sale and jailbreak of its in-house mass-affluent RIA but was able to get enough assets transitioned to Peter Mallouk's Creative Planning for the accounting win

January 19, 2024 at 1:45 AM

Peter Mallouk: [We're] considerably ahead of schedule, even excluding United Capital.

Peter Mallouk ends up losing the majority of Goldman-United Capital advisors in headline-intensive deal but keeps the lion's share of the managed assets

The Creative Planning CEO's acquisition hemmorhaged 175 advisors but leaked just $9 billion of AUM, softened by snapping up $13 billion AUA Mesirow 401(k) business and retaining $20 billion from United Capital, post deal close.

November 11, 2023 at 1:56 AM

Ari Sonneberg: It would not be a good look for Goldman Sachs to be bullying small RIAs.

Goldman Sachs' sweeping legal effort to crush 'United Capital' advisor exodus may prove largely meaningless -- with little chilling effect on flood of defections

The New York City investment bank is filing FINRA arbitrations with abandon as RIA departures pile up, but the squid may not get much sympathy -- in court or the court of public opinion.

October 10, 2023 at 3:32 AM

Jim Rivers has his work cut out for him at Goldman Sachs' 'United Capital 2.0.'

Goldman Sachs-Creative Planning deal is bleeding defectors -- 16 more last week, report says -- auguring a 'potential disaster,' analysts warn

Dozens of former 'United Capital' advisors are fleeing at once, but Peter Mallouk is still battling to keep them, and Goldman Sachs may play legal hardball, sources say.

October 4, 2023 at 2:16 AM

Goldman Sachs Headquarters: GS is helping Peter Mallouk to rapidly wire the 'United Capital' deal. [Photo from Google Commons.]

Peter Mallouk told heads at Goldman Sachs' 'United Capital' today on group Zoom that he'll name new president within 14 days -- and whether 'United Capital' brand survives within 20 days

The Creative Planning CEO talked 'next steps' after vast majority of teams sign on that include a companywide summit within 30 days

September 22, 2023 at 2:59 AM

Peter Mallouk: 'I think, historically, this is a group that has been burned a bit.'

Peter Mallouk has now signed on 30 Goldman Sachs advisory offices, he says, by improvising a fourth option after advisers gave the side-eye to three others

The Creative Planning CEO says he is developing 'United Capital 2.0' on the fly to combat distrust and his Zoom ofensive is netting results

September 12, 2023 at 9:27 PM

Peter Mallouk: Our potential to move the [Goldman Sachs] needle is real.

Peter Mallouk grants Goldman Sachs a 'multi-billion dollar' RIA custody opportunity but only after meeting his co-equal president in the Goldman c-suite

The Creative Planning founder, president and CEO spent time with John Waldron, president and chief operating officer of the Goldman Sachs mothership, before putting its custody service on the menu for his advisors and clients

July 25, 2023 at 3:25 AM

Jill Pivato: There is more to the story.

California judge is siding with $210-billion Kansas RIA over $16 billion California RIA in poaching case, despite seeming hard evidence and damning admissions -- but new twists are possible

Jill Pivato hopped to Creative Planning, took documents and emailed herself client lists but won a legal Mulligan and no restraining order by offering a plausible explanation -- she 'burned' docs and returned lists to Allworth.

June 16, 2023 at 10:15 PM

Peter Mallouk: 'If we were buying everything our debt capabilities would allow us to acquire, we would be a $500 billion dollar firm.'

Clobbered by 'flood' of opportunity, Peter Mallouk is now the unlikely RIA M&A king, which took root in rich organic growth -- now adding a $5-billion RIA with a 'nightmare' that the deal excludes

His $235-billion Creative Planning RIA closed 15 deals in eight months, grew $135 billion in that time, helped by organic growth higher than ever, too.

August 20, 2022 at 12:48 AM

Stephen Greco is taking on the RIA superpowers using mafia law to attempt to level the playing field.

Stephen Greco's six-year quest to prove Creative Planning, Schwab, Fidelity and TD Ameritrade engaged in a 'conspiracy' against his RIA has even the experts baffled

In his latest move, the Spotlight Asset Group founder files a 'RICO' civil suit in federal court that one defendant calls 'ludicrous.'

June 7, 2022 at 4:27 AM

Peter Mallouk: "This has the potential to be transformational."

Creative Planning goes 'transformational,' buying $110 billion in retirement assets and crashing the elite Edelman Financial Engines, CAPTRUST party of business model ambidexterity

Peter Mallouk's acquisition of Lockton and its big-company 401(k) business will double his Overland Park, Kan, staff and solidify its business model's rear flank

November 20, 2021 at 4:07 AM

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