Tony Robbins Loses Role With $38B Planning Firm -- Barrons.com
Tony Robbins Loses Role With $38B Planning Firm -- Barrons.com
Creative Planning’s decision to eliminate Robbins’ position wins praise from advisers
Motivational speaker Tony Robbins officially joined Creative Planning in March 2016 with the goals of training advisers to better manage clients’ emotional needs and raising awareness about broader financial literacy efforts. PHOTO: DAVID PAUL MORRIS/BLOOMBERG NEWS
By
Ross Snel of Barron’s
May 28, 2019 1:48 p.m. ET | WSJ Pro
Self-help guru Tony Robbins is on the defensive in the wake of recent BuzzFeed reports that nine women accused him of sexual misconduct and that he was filmed using racial slurs in the 1980s.
Robbins is also out of one of his jobs now that Creative Planning, a $38 billion registered investment adviser based in Overland Park, Kan., has severed ties with him, InvestmentNews reports.
The firm’s quick decision to eliminate Robbins’ position, chief of investor psychology, and remove him from its advisory board following the accusations, has won praise from marketing professionals and advisers.
“There are takeaways and lessons that other RIAs can learn about how to take action when something like this happens to their brand,” April Rudin, president of financial services marketing firm The Rudin Group, tells the publication. “There’s a woman issue here and there’s a brand issue here, and when these things come up it’s important to take swift action.”
Robbins officially joined Creative Planning in March 2016 with the goals of training advisers to better manage clients’ emotional needs and raising awareness about broader financial literacy efforts.
The firm, which disclosed its decision last week in an updated Form ADV, did not respond to InvestmentNews’ request for comment.
A representative for Robbins declined to comment, but the popular life coach and author has posted a video statement saying the facts don’t support the BuzzFeed reports.
Write to Ross Snel at
Ross.Snel@dowjones.com