Mallouk is the chief executive of Creative Planning, a wealth management company that manages or advises on about $350 billion in assets. The Overland Park, Kansas-based firm was acquired by Mallouk in 2004 when it had about $30 million under management. He also owns a minority stake in the Kansas City Royals baseball team.
Mallouk's main asset is his majority stake in Kansas City-based registered investment adviser Creative Planning. The firm has more than $345 million in combined assets under management or advisement, according to its website.
Creative Planning is valued based on a January 2025 transaction where private equity firm TPG Inc. acquired a minority stake in a deal that valued Creative at $16 billion, including debt. The firm's outstanding loans are deducted from the valuation. The valuation assumes a 25% key-person discount.
Mallouk also has a portfolio of cash and closely held assets that's valued based on prior transactions, including the proceeds of a distribution from a 2025 loan by Creative Planning and his sale of a minority stake in Creative to private equity firm General Atlantic in 2020. The value of the portfolio also accounts for taxes and market performance.
Peter Mallouk was born on Jan. 16, 1970 in Kansas City, Missouri. His father, a physician, and mother, a teacher, had settled in the area after immigrating from Egypt. Mallouk was entrepreneurial from a young age. He delivered newspapers, started a DJing business and mowed lawns for neighbors. After graduating from the University of Kansas he stayed on for graduate school and, while earning his law and business degrees, opened and ran a chain of CD stores. After graduating in the late 1990s, he began consulting as an estate attorney for various physicians and the clients of financial advisers he knew. Around the same time his music stores were struggling due to the invention of Napster and rise of music piracy. The stores eventually folded and he focused on financial advising full time.
In 2004 he acquired Creative Planning, which was owned by an advisor he consulted for. At the time it had dozens of clients and around $30 million in assets under management. Mallouk reconceived the firm as a one-stop shop for financial advice, offering financial planning, legal advice and counsel on matters like insurance and retirement all under one roof. He grew the business organically until 2018 when he began to acquire other independent advisers. He bought the personal financial management division of Goldman Sachs for an undisclosed price in 2023. General Atlantic acquired a minority stake in Creative Planning in 2020 and five years later, TPG bought a non-controlling interest in the firm in a deal that valued it at $16 billion, including debt.
Mallouk has authored four financial self-help books, two of them with motivational speaker Tony Robbins. He lives in Kansas City.