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Article: Firm finds nirvana as its focus on the new-age market pays off; Abacus Wealth Partners tuned in to 'hippies with money'.(News)
- Article from:
- Investment News
- Article date:
- January 28, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Charles Paikert
Many financial planners and wealth managers describe their practices as holistic, but few place advertisements in such publications as Shambhala Sun, Yoga Journal and the Buddhist magazine Tricycle.
Abacus Wealth Partners LLC is one firm that does, and its focus on a spiritually oriented market appears to have paid off for the Philadelphia- and Los Angeles-based fee-only advisory firm.
For instance, assets under management have more than tripled in five years - growing to more than $800 million, from $250 million in 2002.
Describing Abacus' market niche half jokingly as "hippies with money'' or "Whole ...