Eddie Kramer is an Abacus Planning Group shareholder and leads the Fredericksburg, Texas, office. He returned to his hometown in Fredericksburg, Texas, for fee-only financial planning through Abacus Planning Group. He works with families through comprehensive financial planning, specifically with their “goals, their long-term cashflow planning. Insurance (personal and business), property, tax planning, and estate planning.” His interest in financial planning began when he spoke with his fraternity brother about his studies at Texas Tech University. His fraternity brother informed him that he was studying personal financial planning, a combination of finances, psychology, family systems, and working with clients. Kramer wanted to “help families and individuals make good choices.” Cheryl Holland, the founder of Abacus Planning Group, was the most significant influence in his career success in the financial planning industry. One major trend in the financial planning industry is “larger firms buying out smaller firms. Acquisition activity is one of the biggest trends in the industry today.” Another trend is that “obtaining clients is becoming challenging in the fee-only business. Twenty years ago, being fee-only was relatively new and very attractive. The brokerage world has caught on to the trend that it is getting difficult to acquire clients.”
Kramer’s favorite part of the program at California Lutheran University was the modular structure and the discussion boards. “I was able to do a deep dive and focus on one topic per week and had people doing the same work. I could do my projects or papers on real-life scenarios for clients.” The topics he learned in class allowed him to apply his knowledge to real-life scenarios on his projects and papers throughout the program. The course he enjoyed the most was strategic financial analysis because the course helped him “understand the financials of a company and do financial statement analysis.” California Lutheran University’s financial planning being online allowed him to study while having a busy schedule at work and spending time with his family. “The professors were accessible both in class and outside the classroom to ask questions. I learned a lot from them.” Some important skills are writing skills and learning how to communicate with clients. “Cultural studies are critical because we live in a multicultural country. Different cultures generalize wealth and have different views towards wealth.”
In the next 5 to 10 years, Kramer will continue to work at Abacus Planning Group and expand the office. He wants the office to grow in Fredericksburg, Texas, and give back to the FPA (Financial Planning Association) and NAPFA (National Association of Personal Financial Advisors). He advises students pursuing a financial planning career: ” Have the desire to pursue a financial planning degree. Sit for the CFP exam as soon as possible. If they do not work in financial planning, encourage them to intern in a financial planning firm. Having a coach or mentor outside of the office is helpful.”
About the Author:
Rafael Nieves Rios is a graduate student at California Lutheran University, graduating in 2024. He is studying for an MBA in Financial Planning.