Abacus Planning Group, Inc. Honored with the Pacesetter IMPACT Award for Innovation and Accelerated Growth
October 30, 2007
LAS VEGAS, NV – October 31, 2007 — Abacus Planning Group, Inc. of Columbia, SC, today announced that it was recognized with the 2007 Pacesetter Award at Schwab Institutional’s second annual IMPACT Awards ― an industry-wide awards program to honor advisors and firms that have advanced the industry through their visionary leadership, operational excellence, technology innovation, and impressive growth. Schwab Institutional is a leading provider of custodial, operational and trading support for independent fee-based registered investment advisors (RIAs). IMPACT Award winners were announced today during a ceremony at the IMPACT 2007 conference in Las Vegas, Nevada.
Abacus Planning Group, Inc. has grown from serving a handful of clients with a two-person staff to a 16-person firm overseeing more than $500 million in assets for 145 clients. The firm places an emphasis on developing team members and a team approach to client service. Abacus Planning Group incorporates a number of practice management strategies to enhance the culture and develop employees who can help the firm grow. For example, a career path model encourages employees at each career stage to participate in the management of the business. In addition to core professional and administrative responsibilities, each team member serves on one of four business teams: CFO, marketing, operations or human resources. Firm employees take turns teaching at “Abacus University”, a one-hour weekly meeting covering key topics every employee needs to know.
Charles Goldman, of Schwab Institutional, presented Cheryl R. Holland with an IMPACT Awards trophy at the ceremony, and granted a donation in the amount of $10,000 from Schwab Institutional to Abacus’s charity of choice, Bryn Mawr College.
The 2007 IMPACT Awards winners were selected by a distinguished panel of judges including Daniel O. Leemon, former executive vice president and chief strategy officer for The Charles Schwab Corporation; Edythe Dede McClatchy Pahl, executive director of the Investment Management Consultants Association (IMCA); David G. Tittsworth, executive director and executive vice president of the Investment Advisor Association (IAA); and Marvin W. Tuttle, Jr., CAE, executive director and CEO of the Financial Planning Association (FPA). IMPACT Awards entries were scored by the accounting and consulting firm Moss Adams LLP. The winners were selected by the panel of judges.
“The 2007 IMPACT Awards winners personify the passion, commitment and innovation that are the hallmarks of the independent investment advisor industry,” said Goldman.
According to Schwab Institutional data and Cerulli Associates, there are approximately 16,000 RIAs in the country today, managing $2.1 trillion of wealth. The RIA market is the fastest growing segment of the financial services industry, experiencing more than 20 percent growth annually. RIAs typically provide a range of financial services that focus on advice, planning and managing individual portfolios. They usually work with investors who have long-term financial objectives, and they develop and implement strategies to achieve those goals.
Profiles and videos on the IMPACT Awards winners are available online at impactawards.schwab.com.
About the IMPACT Awards
Independent investment advisors have fundamentally changed the financial services landscape by providing independent advice to affluent investors. The IMPACT Awards, established by Schwab Institutional in 2006, recognize these contributions by honoring advisors and firms that have advanced the industry through their visionary leadership, operational excellence and technology innovation. The IMPACT Awards are judged by a panel of recognized experts and presented at IMPACT, one of the industry’s leading conferences. For more information, visit impactawards.schwab.com.
About Schwab Institutional
Schwab Institutional is a leading provider of custodial, operational and trading support for independent investment advisors. Since 1987, Schwab Institutional has supported independent investment advisors by offering support and services to help grow their businesses and help their clients reach their financial goals. As of September 30, 2007, client assets custodied with Schwab Institutional stood at $581 billion. These assets, managed by the approximately 5,500 independent advisor firms Schwab Institutional currently serves, represent approximately one-third of total client assets custodied with The Charles Schwab Corporation. Brokerage products offered by Schwab Institutional are not FDIC insured, are not guaranteed deposits, and are subject to investment risk, including the possible loss of principle invested. Schwab Institutional is a division of Charles Schwab & Co., Inc.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of financial services, with more than 306 offices and 6.9 million client brokerage accounts, 1.2 million corporate retirement plan participants, 212,000 banking accounts, and $1.4 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Schwab Institutional division. The Charles Schwab Bank, N.A. (member FDIC) provides banking and mortgage services and products. CyberTrader, Inc. (member SIPC, http://www.sipc.org) is an electronic trading technology and brokerage firm providing services to highly active, online traders. More information is available at www.schwab.com.
Abacus Planning Group, Inc. and its employees are independent of and are not employees or agents of Charles Schwab & Co., Inc. (Schwab). Schwab does not prepare, verify or endorse information distributed by Abacus Planning Group, Inc.. The IMPACT™ Award is not an endorsement, testimonial endorsement, recommendation or referral to Abacus Planning Group with respect to its investment advisory and other services.
