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Peter Mallouk and Joe Duran described the RIA business like they were from two separate planets, spinning heads at WealthStack

The Creative Planning CEO sees green pastures but for the United Capital manager 'the golden era is over' with Goldman Sachs there to pick up the pieces

Author Graham Thomas September 12, 2019 at 3:00 AM
no description available
Joe Duran (with interviewer Josh Brown): You (RIAs) have no distinct offering that makes people want to go to you.


Peter Mallouk

Peter Mallouk

September 12, 2019 — 12:17 PM
When it came to discussing the competitive environment and future of RIAs, Joe and I had far more similar answers than this article indicates. In the same interview cited here, when asked about the future, I explained the industry is going to be far more difficult and being a fiduciary is not enough, that certain costs needed to compete have risen dramatically and that advisors will have to be far more different to compete. Even after that, pricing will eventually compress. We share the same view of the space, but different views on how to address the coming challenges.
Joe Duran

Joe Duran

September 13, 2019 — 12:34 PM
AMEN Peter.....

Related Moves

November 22, 2022 at 2:38 AM

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

The new 'Tony Robbins' book debut coincides with Ajay Gupta revealing plan to retire, which leaves Creative Planning to keep the referral spoils with Robbins down to a 'with' credit on the cover

Peter Mallouk's and Robbins' book, 'The Path: Accelerating Your Journey to Financial Freedom,' was released this week through a new publisher and word got out that 50 year-old Gupta was departing with little explanation

October 16, 2020 at 7:49 PM

Mentioned in this article:

Creative Planning
RIA Serving Other RIAs
Top Executive: Peter Mallouk, JD, MBA, CFP®

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