Abound Wealth Management, LLC (Franklin)


Abound Wealth Management, LLC is a large advisory firm based in Franklin. It manages $229.29 million of regulatory assets for 1,073 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California, Florida, Georgia, and 9 other states.

Abound Wealth Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, educational seminars and workshops, and financial consulting services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Abound Wealth Management: assets under management

The assets under management (AUM) of Abound Wealth Management, LLC is $229.29 million. The firm's AUM has grown by 82% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $209.83 million in discretionary accounts and $19.47 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $197.95 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.5 million.
Abound Wealth Management has custody of $5.14 million in cash and securities for 17 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 91% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 3% of the firm’s portfolio. Investments in state and local bonds form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Abound Wealth Management, LLC for their services and products based on a percentage of assets under management and hourly charges. 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 Abound Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Abound Wealth Management is high net worth individuals with 76 clients and $144.27 million of assets under management. Among the 10 most similar advisory firms, Abound Wealth Management has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $229.29 million for 205 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.

Abound Wealth Management doesn't advise any private funds.

Careers at Abound Wealth Management, LLC

The company employs 9 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 5 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
John Brian Preston Member, principal 1 Nov 2016 75% - 100% 2923095
Bo Barret Hanson Chief compliance officer, member, principal 1 Nov 2016 Other 5348292

Based in Franklin

The principal office where Abound Wealth Management, LLC performs its advisory services is located at 108 Fourth Avenue South, Franklin, TN 37064, 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 615-226-3667 or by fax 770-898-4979. The normal business hours are m - t: 7:30 am - 4:30 pm cst; fri: 7:30 am - 3:30 pm cst on Monday - Friday. You can find more information about the New York firm at aboundwealth.com.