Abacus Wealth Partners and Social Justice-Aligned Investment Firm, Robasciotti & Philipson, Announce Merger

San Francisco-based R&P will merge with Abacus to expand financial planning access to investors with social justice values

Los Angeles, March 03, 2021 (GLOBE NEWSWIRE) -- A merger was announced today between Abacus Wealth Partners (“Abacus”), an impact-driven financial planning and wealth management firm, and the nationally-acclaimed, social justice-aligned investment firm, Robasciotti & Philipson (“R&P”), headquartered in San Francisco. Together, the two firms will operate under the Abacus name, and co-founders Rachel Robasciotti and Maya Philipson will now serve on the Abacus team as Director of Advocacy Engagement and Strategic Advisor, respectively. Through this merger, Abacus welcomes 115 additional households representing $130M in assets.

R&P was founded in 2004 by Robasciotti to create a space where financial advisors would better represent, and address the unique needs of, a diverse client base –– particularly those who are most impacted by social inequities. Majority-owned and operated by women, people of color, and members of the LGBTQ+ community, R&P has become an industry leader in financial planning through the lenses of inclusivity and justice. Separate from their roles at Abacus, Robasciotti and Philipson will continue to run R&P’s sister investment firm, Adasina Social Capital, which launched in 2020 to serve as a bridge between financial markets and racial, gender, economic, and climate justice movements.

“At its very core, Abacus is a team of individuals who are deeply aligned with our values and this influence is apparent throughout their entire approach to investment management and financial planning,” said Philipson. “This transition feels so natural to us and will be for our clients as well. We are thrilled to start this new chapter with Abacus.”

Headquartered in Santa Monica, Calif., Abacus offers comprehensive financial planning to individuals and families from diverse backgrounds with a wide range of financial needs. A trailblazer in impact investing since the early 1990s, the firm’s investment team utilizes an evidence-based approach that proves socially responsible investing earns the same or better returns than traditional investing. Today, 100% of their portfolios contain investments aligned with each client's environmental, social, and governance (ESG) values.

“We are honored to welcome R&P’s values-aligned clients to Abacus,” said Brent Kessel, co-founder and CEO of Abacus. “Since the day I was introduced to Rachel and her team, there has been tremendous synergy in how we approach the intersection of wealth and impact. This partnership enables us to leverage our platform and resources to further advance our clients’ social justice-driven investment strategies.

“We’re incredibly fortunate that Rachel and Maya will continue to work with Abacus to help evolve our practice to better serve people from racially- and gender-diverse communities. This is a significant moment in our company's history.”

In January of 2021, Kessel co-authored the Due Diligence 2.0 Commitment alongside Robasciotti, which urges members of the asset management industry to reform traditional due-diligence and risk-assessment frameworks that have led to a system in which white, male asset managers control 98.7% of the investment industry’s $69 trillion in assets under management. 

The pledge outlines a substantially equivalent, but alternative due-diligence process that increases the flow of capital to BIPOC (Black, Indigenous, and people of color) managers, in alignment with the fiduciary responsibility of asset management organizations. To view and sign the pledge, visit www.duediligencecommitment.com

Abacus currently serves clients across 42 states with 7 offices across Northern and Southern California and Philadelphia, with plans to expand into additional markets. The firm manages $3.8B in client assets. 

For media inquiries, contact media@abacuswealth.com

About Abacus Wealth Partners

Since 1988, registered investment advisory firm Abacus Wealth Partners (“Abacus”) 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 diverse and values-driven team committed to protecting clients from financial risks, creating roadmaps for their futures, managing their investments, 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+ year track record of delivering social and environmental impact along with competitive investment returns. For more information visit www.abacuswealth.com 



Rachel Robasciotti Maya Philipson

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