Creative Planning Inc., a giant independent wealth management firm headquartered in Overland Park, Kan., is opening up equity in the company to eligible employees by offering 86 partnerships to roughly 10% of its workforce.
“We have an incredibly dedicated team who have been instrumental in helping us grow our business over this past year,” CEO Peter Mallouk said in a news release.
Last March and April, when the market dropped at the onset of Covid-19, Creative Planning pledged to both retain all employees and not to make cuts in compensation, no matter how long the crisis lasted. Since then, Creative Planning expanded its business, growing client assets from $50 billion to more than $75 billion.
“In many ways, we feel like we are just getting started,” Mallouk also said. “I look forward to sharing the journey with my new partners.”
The company plans to continue to offer equity to eligible employees as part of future acquisitions.