Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Peter Mallouk, president and CEO of Creative Planning
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
JUL 03, 2025

Peter Mallouk, the president and CEO of RIA giant Creative Planning, has made a public plea calling for new regulations to ban members of Congress from trading individual stocks. 

“Members of Congress - Republican or Democrats - should not be allowed to trade individual stocks. This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they 'serve',” Mallouk wrote in a recent post on his LinkedIn. 

Mallouk, whose Creative Planning firm - one of the largest RIAs valued at a reported $16 billion - included a screenshot in his post of a June 21 New York Post article that reported on stock gains from Congresswoman Nancy Pelosi. More than 800 users reacted to Mallouk’s post and over 40 commented with many echoing their dismay over politicians trading stocks. 

The California democrat and her husband, venture capitalist Paul Pelosi, reportedly added between $7.8 and $42.5 million to their net worth in 2024, as their investment portfolio pulled in an estimated 54% return in 2024, more than double the S&P 500’s 25% gain. Pelosi’s notorious portfolio has inspired apps such as Autopilot, which has $400 million in client assets copying her stock market trades.

Co-founder Chris Josephs said in May that Autopilot was “one of the fastest growing RIAs in America,” upon hitting $750 million in total client AUM. Autopilot also plans to onboard users from custodians such as Fidelity and Schwab, further signaling the startup's push into the RIA ecosystem.

Members of congress face criticism over potential conflicts of interest in trading stocks in the same industries where they may vote on impactful legislation, or are potentially privy to market-moving events or legislation that prompts suspiciously well-timed stock trades.  Pelosi is far from the only political figure with controversial holdings. President Donald Trump holds an official meme coin, alongside his family’s several other ventures tied to the crypto industry. 

“Nor should our elected officials be able to create and trade NFTs and Crypto currencies,” Holly Melton, Director of Development at the Drew Lewis Foundation, commented under Mallouk’s LinkedIn post, to which Mallouk wrote back, “100%” in agreement.

President Barack Obama made an effort to combat insider trading in 2012 when he signed the Stock Act into law, but members of Congress can still own individual stocks as long as they properly disclose them. In 2024, a bipartisan group of senators including Jon Ossoff (D-Ga.) and Josh Hawley (R-Mo.) proposed new legislation to bar lawmakers and their spouses from buying stocks, and a similar bill was re-introduced by Democrats in May.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.