Ep #32: Monthly Retainers in a $1.5 Billion AUM Firm

January 20, 2016


This week on #XYPNRadio, we're chatting with J.D. Bruce. J.D. is the president of Abacus Wealth Partners, a firm based out of Santa Monica that manages over $1.5 billion in assets.

Today, J.D. and I discuss how Abacus made the switch from the traditional 1% AUM with million dollar minimums to serving clients with a broad range of assets. We cover the array of different iterations that Abacus has tried, and how they settled on the successful model that they use today.

What makes Abacus unique is their concept that a large firm can serve lower-asset clients in a profitable way. For anyone that owns or currently works in a larger firm, you'll benefit from the advice and ideas that J.D. shares here -- and you won't want to miss the incredibly valuable truth he lays out for us at the end of the show!

Listen in below...


Listen to the Full Interview:


What You'll Learn From This Episode:

  • The mission of Abacus Wealth Partners.
  • The three parts to Abacus’s business plan.
  • Why Abacus decided to remove all of their minimums.
  • The solution that Abacus created so they wouldn’t have to let any clients go.
  • Abacus’s largest problem in creating a plan that works for clients big and small.
  • How Abacus sets up their teams to work with clients.
  • How J.D.'s teams are able to work with clients in 40 states.
  • The difference between a planning relationship and a transaction.
  • How to create a sweat equity program for a young planner.

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