How you pay, and how much you pay, for financial advice is changing. If you thought you couldn’t afford to work with a financial advisor, it’s time to think again.
Most financial advisors charge fees based upon the value of your investment portfolio they manage on your behalf. For example, if the investment account managed by your financial advisor is worth $500,000, you can usually expect to pay a fee of around 1%, or $5,000, per year.
Abundo Wealth is different. Abundo offers flat fee financial planning services with a monthly subscription model starting under $100 a month, after paying an upfront cost of a few hundred dollars for a comprehensive financial plan. Currently, the Abundo pricing options are determined whether you hire them as an individual or as a couple:
- Individuals: $375 upfront cost, then $89/month
- Couples: $450 upfront cost, then $139/month
Using the $500,000 portfolio example above, an individual can expect to save $3,500 in their first year working with Abundo Wealth instead of a traditional financial advisor that charges a 1% fee. For couples, the savings in year one could be around $2,800 for a $500,000 portfolio.
What to Expect When You Become an Abundo Wealth Client
The financial plan delivered to Abundo clients near the start of the relationship includes an actionable task list, usually suggesting 15 to 20 tasks to work on. Onboarding with Abundo generally includes an initial meeting to learn about their proprietary tools, another meeting to review their recommendations, followed by a check-in meeting about a month later.
After the onboarding period, it’s typical for most clients to meet with Abundo 5 to 6 times in the first year, and 2 to 3 times in future years. And by conducting all meetings online via Google Meet or Zoom, clients also gain back time otherwise spent commuting to meet with a financial advisor in person.
What also differentiates Abundo Wealth from most other financial advisors is their passion for travel. Clients of Abundo Wealth gain access to The Travel Lounge, an online library of travel advice that features recommendations on where you can fly to maximize your airline rewards points. And while a typical financial advisor doesn’t offer travel services, the team at Abundo also helps their clients with travel planning to find the cheapest flights and additional recommendations.
What do Abundo Clients Say About Working with Abundo Wealth?
Beyond a financial advisor’s experience and credentials, you may find it valuable to learn what clients of Abundo Wealth have to say about their experience working with Abundo financial advisors. Just below, you can scroll through dozens of reviews to help you decide if you’ll enjoy working with the team at Abundo.
✅ Read Certified Advisor Reviews™ for Abundo Wealth:
Are you preparing to hire a financial advisor? With Certified Advisor Reviews™, you will always know if a reviewer was paid to write their review and whether or not they have ever been a client of the financial advisor. You will also learn about any conflicts of interest so you can make a smarter hiring decision.
Getting Started with Abundo Wealth
If your bags are packed and you’re ready to climb aboard with Abundo Wealth, first schedule time to speak with a member of the team for free to be sure you’re a good fit to work together. Abundo offers an introductory call to everyone for free so they can learn more about you and your financial goals. They will also tell you more about how Abundo works with clients and can answer all of your questions. Simply visit their calendar to schedule a call at a time convenient for your schedule.
📈 Get to Know Abundo Wealth
This page is organized into sections to help you quickly find the information you need and get answers to your questions:
- Q&A with Eric Simonson, Founder of Abundo Wealth
- Quick Facts About Abundo Wealth
- Get Answers to Your Questions About Abundo Wealth
– Q&A With Eric Simonson, Founder of Abundo Wealth –
Three Questions with Eric Simonson, CFP, CRPC, CLTC
We asked financial advisor and Abundo Wealth founder, Eric Simonson, to answer a few questions to help us learn more about what makes his firm unique.
Q: You promote a low-cost investing strategy with your clients. Can you elaborate on your investment approach and how you build portfolios?
Eric: We believe the best long-term investment strategy is to invest in the market as a whole while paying the least amount of fees possible.
An overwhelming majority of data points to the fact that actively managed mutual funds produce worse returns over the long term than diversified, low fee, passively managed exchange-traded funds (ETFs) when you account for fees charged by the actively managed funds. All of our portfolios are built using ETFs.
To achieve diversification, our portfolios have one ETF with at least 40 holdings for each of ten asset classes including Large-Cap, Mid-Cap, Small-Cap, International Developed, Emerging Markets, Real Estate, Government Bonds, Corporate Bonds, High Yield Bonds, and International Bonds. This means that all of our portfolios represent the combined return of at least 400 individual holdings across 11 unique asset classes when you include USD cash.
We have seven versions of each of our portfolios, accounting for our clients’ different risk tolerances. Each portfolio allocates a different percentage of its assets according to the model provided by the Modern Portfolio Theory to achieve the best risk-adjusted return.
We also help our clients invest in their values. As a result, we’ve created unique socially responsible portfolios, some broadly reaching while others focusing around specific causes such as Climate Action, Gender Equality, and Inclusive Economies.
Q: What type of people do you believe can benefit most from working with Abundo Wealth vs a traditional advisor?
Eric: Simply from a cost standpoint, we think that everyone would likely be better off working with us than with a traditional advisor. We also believe we do a great job of providing valuable, comprehensive advice that other advisors may not do if they only focus their advice on investment or insurance sales. We also believe we are a great fit for people who are comfortable with technology, are willing to take an active ownership role in their finances, and want a team for ongoing advice (rather than a one-and-done financial plan).
Q: When a new client signs up with Abundo Wealth, how do you decide which financial advisor they will work with on your team?
Eric: It’s based on advisor capacity and the client’s schedule. Depending on which day of the week (or time of day) the client chooses they will be assigned to one of our available, amazing advisors. That will be their point person moving forward but the whole team is always ready to support them in any way they need.
Q: What is one of your favorite travel hacks?
Eric: I don’t know if I could pick one, but if I had to pick, one common mistake we see is people getting too concerned with maintaining loyalty to one airline. The appeal of free checked bags or upgrades pales in comparison to what people could be getting for their points if they had a credit card that can be used on multiple airlines. For example, Delta charges 200,000+ SkyMiles for their Delta One Suite to Europe. For that very same flight (on Delta!), Virgin Atlantic can charge as low as 50,000. You just need a credit card that has points that can be transferred to Virgin Atlantic.
Meet the Abundo Wealth Team
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📗 Quick Facts About Abundo Wealth
| Year Founded: | 2019 |
| Website: | www.abundowealth.com |
| Wealthtender Profile Page: | Abundo Wealth |
| Founder: | Eric Simonson, CFP, CRPC, CLTC |
| HQ Location: | Minneapolis, Minnesota |
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About the Author
Brian Thorp
Founder and CEO, Wealthtender
Brian and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.
With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.