Abens Financial Services Inc

CRD#106604
Investment Advisor Firm

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Overview

Abens Financial Services Inc is a financial advisory company that has its headquarters in Minneapolis, Minnesota. Abens Financial Services Inc administers $43.3 million in assets under management throughout 79 accounts. It has a small team of four employees, two of whom are financial advisors. Abens Financial Services Inc is not a registered broker-dealer, meaning the company cannot buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer firm to do so. Securities are exchangable fiscal assets such as bonds, equities and options.

Abens Financial Services Inc oversees all of the company's client assets on a discretionary basis. Discretionary management means that an investment advisor has the discretion to make transaction decisions for the client's account without needing client consent. Abens Financial Services Inc oversees an average of $548,495 for each account. Under $100,000 of its investments for financial planning services were in securities, with under $100,000 invested in non-securities. An average advisor at Abens Financial Services Inc oversees about 40 client accounts, making it about average in terms of personalization.

The company's central office is located at 4926 Lincoln Drive, Minneapolis, Minnesota 55436. Abens Financial Services Inc is legally registered to serve clients in the state of Minnesota.

Assets Under Management

$43.3 million

Number of Advisors

2

Fee Structure

Asset-based, Hourly, Fixed

Disclosures

No

Office Location

4926 Lincoln Drive
Minneapolis, MN 55436

Abens Financial Services Inc by the Numbers

Total Assets Under Management

$43.3 million

National Average: $3.3 billion
Total Number of Employees

4

National Average: 4,943
Total Number of Accounts

79

National Average: 2,522
Average Account Size

$548.5 thousand

National Average: $1.3 million

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Products and Services

Abens Financial Services Inc provides a variety of services, including financial planning services, portfolio management for individuals and small businesses and other services. In the past fiscal year, Abens Financial Services Inc provided financial planning services to 1-10 of its clients. The company does sell products or offer services aside from investment advisory services to its clients.

Core Advisor Services

  • Offered by 45% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 63% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

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Fee Structure

Financial advisory fees are based on which services the firm provides the client. Fee types billed by Abens Financial Services Inc can be comprised of any blend of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by the company. It can withdraw its expenses directly from customer accounts.

Available

  • Offered by 75% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 37% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 40% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 3% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 17% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

The company caters to retail investors and high net worth investors. Out of its 79 clients, Abens Financial Services Inc's largest client type is retail investors, though it also serves 33 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 under management or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's accounts are non-U.S. persons.

  • High-Net-Worth Individuals* - 43.42%
  • Other Individuals - 56.58%
  • Corporations - 0%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Abens Financial Services Inc does not have any disclosures.

Please visit its Form ADV for more details.

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This content was compiled from the SEC and FINRA