DENVER, April 15 /PRNewswire/ -- Trust Company of America recently began
providing custodian services to Abacus Wealth Partners, and the lower
transaction fee structure allowed Abacus to launch a new, turn-key asset
management service for investors.
Abacus Wealth Partners LLC is a national fee-only(TM) wealth management
and financial planning firm with offices in Philadelphia, Boston, Los Angeles,
and the San Francisco Bay Area. Over the years, Abacus' investment strategies
have performed well and as a result, clients and professional colleagues
referred others to the company. However, as a part of its services, Abacus
provides comprehensive wealth management services to every client and could
only accept new clients at a minimum fee level of $10,000 per year. At the
net worth level of many of these referred potential clients, such a fee is
To solve this problem, Abacus Wealth Partners recently appointed Trust
Company of America to provide custodian services. As a result of a lower
transaction fee structure from Trust Company of America, Abacus was able
develop a turn-key, asset management service called Kubera Portfolios, LLC.
Kubera clients are able to invest in a personalized, customized portfolio of
stocks, bonds and mutual funds that adheres to the same disciplined, low-cost,
tax-efficient principals used for traditional Abacus clients without other
financial planning services.
"In our opinion, Kubera is the best asset management service available
anywhere to the individual with investment assets of less than $1 million.
Trust Company of America's fee structure allowed us to make this service
available," said Jeffrey A. Harwood, CFP, CFA, MBA, a wealth advisor with
Abacus. "By providing a cost-effective solution, Trust Company of America
allowed us to open the investment management portion of our services to an
entirely new group of investors."
"Trust Company of America provides a full range of custodial services with
a far more cost effective model than other companies' offerings. We are
pleased we could provide an efficient solution to Abacus Wealth Partners which
enabled them to expand their offerings and, as a result, increase their client
base," said Stephan A. Finn, chairman, president and CEO of Trust Company of
About Trust Company of America
Trust Company of America is a specialized custodian whose primary business
is serving asset managers. The company provides a bundled solution that
includes asset custody, portfolio and client data management and back office
services. As an FDIC member, Trust Company of America is committed to
providing a secure, controlled environment for the conduct of investment
activities. Clients benefit from the objectivity and dedication that only a
truly independent trust company can offer.
SOURCE Trust Company of America