Wealth Enhancement vs. Creative Planning: Key Considerations

Choosing your wealth management partner is an extremely important choice, and a deeply personal one. When evaluating your options, it can be helpful to understand not only the services offered, but also how those services are delivered.

This overview highlights some general similarities and differences between Wealth Enhancement and Creative Planning to help inform your decision-making process. At a high level, both Creative Planning and Wealth Enhancement are nationally recognized and all of their advisors are fiduciaries. 

At a glance

In Person or Virtual.

Creative Planning has 104 offices in 45 states and Wealth Enhancement has 199 offices in 38 states. Both companies are continuing to expand locations and both companies service clients virtually. Creative Planning puts more of an emphasis on serving clients who live outside of the United States than Wealth Enhancement.

Firm Structure and Approach

Wealth Enhancement operates through a partnership model with their advisory teams across the country. This structure allows advisors to work directly with clients while utilizing centralized resources, technology, and planning support.

Creative Planning operates within a more centralized framework, with advisors working within a unified system and firm-wide processes.

Investment Management

Both firms provide discretionary investment management as part of a broader financial planning relationship.

• Wealth Enhancement: Provides custom-built investment portfolios aligned with each client’s unique needs and goals. Portfolios may be constructed using individual securities, ETFs, mutual funds, or separately managed accounts. In addition, they offer a wide range of alternative investments, including private markets, real estate, option overlays, structured notes, and long/short SMAs.
• Creative Planning: Creative Planning delivers personalized, disciplined solutions for their clients. Portfolios can include a mix of public and private markets, and strategies are built to be flexible to markets and life changes. 
  Both companies emphasize using tax-efficient strategies. Wealth Enhancement offers a Wealth Blueprint™ to prospective clients that offers a second opinion on your current financial plan, tax-efficient retirement and withdrawal strategies, and up to five tailored financial considerations based on your priorities.

Financial Planning Services

Both firms offer a wide range of planning services beyond investment management, including:
Retirement planning 

• Tax planning and preparation services 
• Estate planning
• Risk management and insurance analysis 
• Cash flow and long-term planning

The structure and integration of these services may vary depending on personal circumstances and the specific advisor.

Client Experience

Client experience can differ based on firm structure and your specific advisor.

• Wealth Enhancement:
  Clients typically work closely with an advisor or advisory team. The experience may vary depending on the team and individual preferences.
• Creative Planning:
  Clients work with a dedicated advisor, generally following a more standardized service model with defined processes and reporting practices.

Fees, Costs, and Account Minimums

Both firms generally use a fee-based model, usually structured as a percentage of assets under management (AUM). Fees can vary based on factors such as account size, complexity, and services provided. Creative Planning’s fees range from 0.25% to 1.2% and Wealth Enhancement’s fees range from 0.6% to 1.5%. Creative clients with less than $500,000 in AUM may be charged a minimum management fee.

Creative Planning generally requires new clients to have a minimum of $200,000 in assets under management. Wealth Enhancement has an account minimum of $25,000, but specific advisor teams might have higher minimums.

Choosing the Right Fit

The choice between firms may depend on individual preferences, financial goals, desired level of engagement, and the individual advisor’s personality.

You may consider Wealth Enhancement if you:

• Prefer working closely with a dedicated advisor
• Value a planning approach tailored to your situation 

You may consider Creative Planning if you:

• Value a centralized structure with consistent processes 
• Live abroad or are considering a move abroad

Final Considerations

Wealth Enhancement and Creative Planning both provide comprehensive wealth management services. Differences between the firms often relate to structure, service delivery, and client experience rather than the availability of core services.
Taking time to evaluate your priorities—and speaking directly with an advisor—can help you determine which approach aligns with your needs.