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The top-ranked wealth manager also shared two tips on how to accumulate wealth, and two of his favorite investing books. Peter Mallouk did not build a $34 million advisory firm in Kansas into a $50 billion private equity-backed wealth-management giant with offices in all 50 states overnight. The customized approach was considered an inefficient way to run a wealth management firm given its need for "a lot of money managers" to work with different clients, but it has become a big part of Creative Planning's success today, according to Mallouk.
"What we do know is that most of our clients can't get where they want to go in very low-yielding bonds," he said. "Growth has outperformed value to the highest degree. There are only two times in history where growth outperformed value by this much, one was 1930 and one was the year 2000," he said, noting that the gap between growth and value will close eventually.
"We saw from 2000 to 2010, international did much better than the US. From 2010 and 2011, the US much better than international," he explained. "It's too early to know what's going to happen this decade, but there's a lot more value overseas than the US."
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