How planner built firm after moment of inspiration

investmentnews.com:

Cheryl Holland’s journey into the world of wealth management was ignited by a chance encounter at a conference of the International Association of Financial Planners.  

There, she met a gentleman who made a profound statement that ultimately changed the course of her career.  

“The future of everyone in this room is to charge a fee for your advice rather than sell a product,” Holland recalls him saying. “And literally the light bulb went off in my head — I said, ‘That’s exactly what I want to do.’”   

With newfound clarity and determination, Holland embarked on a path of self-reflection. She left Merrill Lynch, pursued her certified financial planner designation, and started offering financial advice at a rate of $25 per hour.   

“I didn’t know what I was doing or talking about, though,” she said. “So it might not have been worth it.”   

Holland’s journey, like that of many of her peers, was a self-taught one. However, she’s thrilled to see just how far the industry has evolved into a true profession, complete with methodologies and young professionals eager to enter the field.  

Twenty-five years ago, Holland founded Abacus Planning Group — and, from its inception, the firm has operated as a well-balanced three-legged stool.    

“We have a team dedicated strictly to portfolio management,” Holland said. “Their day-to-day work revolves around the markets, individual portfolio management and tailoring execution and communication to clients.”   

Complementing this team, Abacus employs a group of certified financial planners whose primary role is financial planning. They tackle a wide range of financial aspects, from tax planning and insurance review to estate planning and aligning client goals with long-term strategies.