Abundance Wealth Counselors, LLC (State College)

Name: Abundance Wealth Counselors, LLC
Address: 232 Regent Court, State College, PA, 16801
Telephone: 814.861.3810

Abundance Wealth Counselors, LLC is a large advisory firm based in State College. It manages $592.65 million of regulatory assets for 1,059 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Delaware, Florida, and 6 other states.

Abundance Wealth Counselors provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and consulting. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Abundance Wealth Counselors: assets under management

The assets under management (AUM) of Abundance Wealth Counselors, LLC is $592.65 million. The firm's AUM has grown by 661% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $587.88 million in discretionary accounts and $4.77 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $564.19 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $280.66 thousand.

Abundance Wealth Counselors has custody of $530.83 million in cash and securities for 335 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 46% of the total AUM. The second-largest asset type is investment and business development companies, which make up 20% of the firm’s portfolio. Investments in other assets form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Abundance Wealth Counselors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Richard Frank Defluri serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Richard Frank Defluri is high net worth individuals with 125 clients and $384.92 million of assets under management. Among the 11 most similar advisory firms, Abundance Wealth Counselors has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $592.65 million for 383 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Abundance Wealth Counselors doesn't advise any private funds.

Careers at Abundance Wealth Counselors, LLC

The company employs 15 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Richard Frank Defluri has been acting as President since 1 Feb 2001. Geoffrey Patrick Caber has served as the Chief Investment Officer since 1 Mar 2004 and Jamie Lee Felker is the Chief Executive Officer of Abundance Wealth Counselors, LLC family office. John James Schaffer joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Karen Paige Shute	Vice president	1 Feb 2001	25% - 50%	725346
Richard Frank Defluri	President	1 Feb 2001	75% - 100%	851214
Karen Paige Shute	Shareholder	1 Jul 2001	25% - 50%	725346
Inc. Abundance Holdings	Member	1 Oct 2002	75% - 100%	81-0572878
Ronald Paul Dreese	Treasurer	1 May 2003	Other	4709643
Geoffrey Patrick Caber	Chief investment officer	1 Mar 2004	Other	2294747
Jamie Lee Felker	Chief executive officer	1 Dec 2005	Other	5769657
Inc. Abundance Holdings	Managing member	1 Feb 2006	75% - 100%	81-0572878
Richard Frank Defluri	Managing member	1 Jan 2011	75% - 100%	851214
Cheryl Lynn Bartram	Chief operating officer	1 Jan 2012	Other	6013315
John James Schaffer	Chief compliance officer	1 Jan 2014	Other	6291332

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Richard Frank Defluri	Shareholder	1 Oct 2002	75% - 100%	851214
Ronald Paul Dreese	Shareholder	1 Oct 2002	25% - 50%	4709643
Karen Paige Shute	Shareholder	1 Oct 2002	25% - 50%	725346

Based in State College

The principal office where Abundance Wealth Counselors, LLC performs its advisory services is located at 232 Regent Court, State College, PA 16801, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 814.861.3810 or by fax 814.861.3811. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at abundancellc.com.