LOS ANGELES, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Abacus Wealth Partners (“Abacus”), an impact-driven wealth management firm, today announced the appointment of Mary Beth Storjohann, CFP® and Neela Hummel, CFP® as co-CEOs, effective February 1, 2022. Storjohann and Hummel previously served as chief marketing officer and chief advisory officer of Abacus, respectively, and will now lead the growing $4.4B Registered Investment Adviser (RIA) firm on its mission of expanding what’s possible with money and leaving the world in a better place while doing it.
The appointment of Storjohann and Hummel as co-CEOs is a significant and historic milestone for Abacus as the company looks to refine its strategic growth and M&A plans. Storjohann will primarily lead strategic business growth and communications, while Hummel will focus on advisor development and client service.
Storjohann has served as an Abacus partner and chief marketing officer for nearly three years, reenergizing their brand and developing and leading the firm’s robust communications team through a period of exponential growth and the digitization of client engagement. Storjohann brings 18 years of industry experience to the role and is known for sparking conversation and change in the financial services industry in areas such as virtual team and client management, women’s financial literacy and empowerment, and serving millennials and GenX clientele.
“Abacus is a team of compassionate, purpose-driven relationship builders and I am incredibly honored to co-lead this amazing group of people alongside Neela,” said Storjohann. “Our skill sets and focus areas have always complemented one another, and we know Abacus can accomplish so much more by having the versatility of our combined experience, expertise, and perspective in the CEO seat. Big successes require big ideas, and we’re excited to show the industry what we have in store for our team, our clients, and all those who deserve access to financial advice.”
Hummel has spent 12 years with Abacus, starting as an intern and working her way up the ranks to financial advisor, partner, and most recently the firm’s chief advisory officer. In this role, she has worked closely with the firm’s 40-plus advisors across seven offices to build systems and processes around client service. This includes a teammate development program where new advisors are paired with, and mentored by, seasoned advisors to become senior leaders. During her time at Abacus, Hummel has served two terms on its board of directors, developed its industry-leading parental leave policy (six months paid time off), and launched and ran the company’s women’s initiative, the Abacus Sisterhood.
“Having two women lead a $4.4 billion RIA is a big deal for our industry, and I’m humbled by the opportunity,” said Hummel. “Abacus is a special place full of truly incredible people. We plan on leading by putting our people first – clients and team members – all while focusing on company culture. Brent and other leaders of Abacus have set the bar for what the industry needs more of – not just mentorship of the next generation, but advocacy and sponsorship.”
Current CEO Brent Kessel will remain with Abacus full-time, leading broader impact investment initiatives. These include focusing on a large and growing market segment who desire meaning and purpose from their wealth, serving on the firm’s board of directors, as well as focusing on the continued diversification of team members and clients.
“I never could have imagined that Abacus would grow to over 70 employees and $4.4 billion – but once we began wearing our values on our sleeves, our growth took off,” said Kessel. “Neela and Mary Beth really are servant leaders who know how to bring the best out of our people, out of our company, and frankly, out of our industry. I’m inspired they believe so strongly in this vision that they’ve stepped into this role to execute it, and I cannot wait to see where they take the company.”
The selection of Storjohann and Hummel as co-CEOs came after an extensive internal search process led by Abacus’ Board of Directors. “It is a testament to Abacus that we had such a deep bench of talent to consider for the role of CEO,” said Partner Gabe Brenner. “In many ways, selecting Mary Beth and Neela to share this role was a natural progression of the entrepreneurial and values-aligned company culture. Together as a unit, they are truly ‘superhuman’ and it is so important to have their voices at the helm of an influential company like Abacus.”
Abacus currently serves clients across 42 states with seven offices across Northern and Southern California and Philadelphia, with plans to expand into additional markets. The firm manages $4.4B in client assets.
For media inquiries, contact media@abacuswealth.com.
About Abacus Wealth Partners
Since 1988, Abacus Wealth Partners (“Abacus”), a Registered Investment Adviser, has worked alongside our clients to make the best use of their financial resources and free their time to enjoy what matters most in life. We are a values-driven team committed to protecting clients from financial risks, creating roadmaps for their futures, managing their investments in a values-aligned way, and providing advice that touches every area of their lives.
Abacus’ investment strategies are based on Nobel Prize-winning research and provide global exposure to large and small stocks, various types of fixed income, investment real estate, and impactful private equity. Using these strategies, we have a 20-plus year track record of delivering social and environmental impact along with competitive investment returns. For more information visit www.abacuswealth.com
###
Attachments
