Managing for the future: Chattanooga-based finance company seeks expansion in the Southeast


As financial advisors and consultants managing over $ 1 billion in funds, Patton’s financial investment firm, Albertson & Miller prides itself on taking a long-term, strategic approach to developing and growing its assets.

So, ten years ago, company founder Jimmy Patton identified the favorable trust laws of Chattanooga and Tennessee as an attractive market for expansion to open another office. Patton moved to Chattanooga and eventually made Chattanooga the headquarters of the company in 2015.

This expansion beyond the company’s original Macon office and later in Atlanta helped propel the company’s growth serving high net worth individuals in the Southeast, Patton said. And it also shows the possibility of further regional growth in other markets as the company looks to the future.

“As we commemorate a decade of activity in the Chattanooga market, we are seeing tremendous growth of over $ 1 billion since we opened our doors,” said Patton, Founding Partner and CEO of Patton Albertson & Miller. “We have been able to accomplish this by helping our clients plan and manage their entire financial life, not just their investments.”

Despite the challenges posed by the COVID-19 pandemic, Patton Albertson & Miller has grown its assets under advice by more than 25% over the past three years and Patton said the company is now considering other cities in the South East. to locate offices or acquire other investment firms.

“Our long-term goal is to be a Southeastern company and have a presence in North and South Carolina, Florida, Alabama, Georgia and Tennessee,” said Patton. “But we have a long-term vision and we will continue to look for the right opportunities to acquire other companies that share our values ​​and our philosophy, in particular by putting the interests of our clients first and by having a fiduciary offer. . We want to grow and develop, but we don’t want to forget what made us successful. “

The company at a glance

Name: Patton, Albertson & Miller

Desks: Chattanooga, Atlanta and Macon, Georgia

CEO: Jimmy patton

Staff: 21 employees in three offices

Assets under management: Over a billion dollars

Patton, a former director of SunTrust Bank in central Georgia who founded the wealth management company in Macon in 2003, said Patton Albertson & Miller had started to be different from other investment firms or brokerage houses. The paid money management company was founded by Patton, Marc Albertson and Bill Miller. Miller has since retired.

“We are in the business of life financial management; we are not in the business of investment management,” Patton said. “What this means is that we provide a full range of services to our customers. We’ll help them do just about anything that has a financial aspect to help people get organized, have a plan in place, and help them achieve that plan. them throughout this shot. “

Patton said his company not only focuses on certain types of investments, but considers all economic sectors and types of investment options.

“We are strong supporters of diversification,” he said. “We believe you do best when you get reasonable and consistent returns over a long period of time. “

In March 2020, when COVID-19 started shutting down much of the economy and the stock market fell more than 20%, advisers at Patton Albertson & Miler urged clients to stay focused on the long term. and not to worry about the quarterly decline in stocks. values. Over the past year and a half, the stock market has not only rebounded from early 2020 losses, but has hit new highs this summer.

“There are always changes in tactics, but in terms of long-term strategy, you still want to build a portfolio that has a long-term horizon with a diversified portfolio,” Patton said.

Patton attributed the company’s success over its 18-year history to its various services, including estate planning, financial advice and assistance, and plan execution assistance. The typical customer relationship with the business involves investments or other assets with an average value of $ 1.8 million, although Patton said many customers are much smaller or larger than average.

“We’ve helped customers buy cars, get lumber, develop fuel plans and provide a host of other services beyond just investing their money,” he said.

Patton said the company’s growth has come from the company’s unique appeal to a growing part of the country, combined with his in-depth knowledge of complex estate planning and settlement and a skilled investment team.

The company opened its Chattanooga office in 2012 with one employee and now has seven full-time members in its Liberty Tower office.

“As we look to the next decade, we do so with gratitude for the past 10 years and with optimism for continued growth,” Patton said.

Contact Dave Flessner at [email protected] or 423-757-6340.

Source link


Comments are closed.