Trust Company of America Custodian Services Allow Abacus Wealth Partners to Expand Service Offering
Thanks to Reduced Transaction Fees, Abacus Is Able to Develop and Launch
Kubera Portfolios, a Turn-Key Asset Management Service
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 prohibitive. 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 America. 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
More by this Source
Trust Company of America Ends 2013 With Record Assets Under Custody
Jan 28, 2014, 09:45 ET
Trust Company of America Announces Record Third Quarter
Oct 09, 2013, 15:16 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.