Abbit Management Corp (Grand Haven)

Name: Abbit Management Corp
Address: 16986 Robbins Rd Suite 100, Grand Haven, MI, 49417
Telephone: 616-842-0280

Abbit Management Corp is a large advisory firm based in Grand Haven. It manages $189.92 million of regulatory assets for 339 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdiction of Michigan.

Abbit Management Corp provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm also engages as tpa for guaranteed travel assurance plans.

Abbit Management Corp: assets under management

The assets under management (AUM) of Abbit Management Corp is $189.92 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 121% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $189.92 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $560.24 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 90% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 6% of the firm’s portfolio. Investments in government bonds form 3% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Abbit Management Corp 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 Joseph Edward Risselade serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Joseph Edward Risselade is corporations or other businesses with 5 clients and $154.15 million of assets under management. Among the 11 most similar advisory firms, Abbit Management Corp has the highest percentage of corporations or other businesses out of all clients.

The amount of regulatory assets under management is $189.92 million for 242 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.

Abbit Management Corp doesn't advise any private funds.

Careers at Abbit Management Corp

The company employs 6 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. 2 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.

Joseph Edward Risselade has been acting as President since 1 Dec 2010. James Monte Vandyke joined the executive team most recently as the President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Junawa Investment Corp.	Shareholder	1 Sep 1979	75% - 100%	38-2472769
Leonard Laverne Anderson	Director	1 Nov 1980	25% - 50%	5290
Robert Alan Risselade	President	1 Nov 1980	25% - 50%	1755170
James Monte Vandyke	Vice president	1 May 1989	25% - 50%	1912819
James Monte Vandyke	President	1 May 2002	25% - 50%	1912819
Joseph Edward Risselade	Vice president	1 May 2002	50% - 75%	1517194
James Monte Van Dyke	President	1 May 2002	25% - 50%	1912819
Joseph Edward Risselade	President/chief compliance officer	1 Dec 2010	75% - 100%	1517194

Based in Grand Haven

The principal office where Abbit Management Corp performs its advisory services is located at 16986 Robbins Rd Suite 100, Grand Haven, MI 49417, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 616-842-0280 or by fax 616-842-5266. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at abbit.biz.