Abbot Financial Management, Inc (North Andover)

Name: Abbot Financial Management, Inc
Address: 510 Turnpike Street, North Andover, MA, 01845
Telephone: 978-688-9010

Abbot Financial Management, Inc is a large advisory firm based in North Andover. It manages $200.28 million of regulatory assets for 406 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Florida, Massachusetts, and 3 other states.

Abbot Financial Management provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Abbot Financial Management: assets under management

The assets under management (AUM) of Abbot Financial Management, Inc is $200.28 million, all of which is managed in discretionary accounts. 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 $200.28 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $493.31 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 76% of the total AUM. The second-largest asset type is investment and business development companies, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Abbot Financial Management, Inc for their services and products based on a percentage of assets under management. 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 William Thomas Novelline serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of William Thomas Novelline is high net worth individuals with 79 clients and $169.81 million of assets under management. Among the 8 most similar advisory firms, Abbot Financial Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $200.28 million for 172 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.

Abbot Financial Management doesn't advise any private funds.

Careers at Abbot Financial Management, Inc

The company employs 5 people that are either part- or full-time employees. 80 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.

William Thomas Novelline has been acting as President since 1 Jun 1983. Andrew J Novelline joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
William Thomas Novelline	Chairman/treasurer	1 Jun 1983	25% - 50%	716643
Andrew J Novelline	Chief compliance officer	1 Jul 2005	50% - 75%	4422210

Based in North Andover

The principal office where Abbot Financial Management, Inc performs its advisory services is located at 510 Turnpike Street, North Andover, MA 01845, which is also the mailing address of the firm. An additional office of the firm is in Pawley's Island, SC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 978-688-9010 or by fax 978-688-0090. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at abbotfm.com.