Patten And Patten, Inc. (Chattanooga)

Name: Patten And Patten, Inc.
Address: 520 Lookout Street, Chattanooga, TN, 37403 1713
Telephone: 423.756.3480

Patten And Patten, Inc. is a large advisory firm based in Chattanooga. It manages $1.32 billion of regulatory assets for 1,855 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of Alabama, Arizona, Arkansas, and 30 other states.

Patten And Patten provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Patten And Patten: assets under management

The assets under management (AUM) of Patten And Patten, Inc. is $1.32 billion. The firm's AUM has grown by 53% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.23 billion in discretionary accounts and $84.12 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $724.6 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $557.11 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 75% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 14% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Patten And Patten, Inc. for their services and products based on a percentage of assets under management and fixed fees. 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 Worcester Allen Bryan Patten serves?

The firm provides services to charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Worcester Allen Bryan Patten is high net worth individuals with 618 clients and $1.18 billion of assets under management. Among the 10 most similar advisory firms, Patten And Patten has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.32 billion for 655 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.

Patten And Patten doesn't advise any private funds.

Careers at Patten And Patten, Inc.

The company employs 14 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Worcester Allen Bryan Patten has been acting as President since 1 Apr 1976. Mark Christopher Fleck joined the executive team most recently as the Principal.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Worcester Allen Bryan Patten	Chairman	1 Apr 1976	50% - 75%	4347066
Zeboim Cartter Patten	Chairman	1 Apr 1976	25% - 50%	4347041
Frank Mix Robbins	Senior vice-president, secretary	1 Feb 1980	Other	2623571
Raymond Vincent Ryan	Vice president	1 Jun 1999	Other	2186050
James Clay Crumbliss	Vp operations & finance/chief compliance officer	1 Dec 2002	Other	4782046
Raymond Vincent Ryan	President	1 Feb 2005	Other	2186050
James Clay Crumbliss	Vice president/treasurer/chief compliance officer	1 Dec 2009	Other	4782046
Mark Christopher Fleck	Principal	1 Mar 2015	Other	4772758

Based in Chattanooga

The principal office where Patten And Patten, Inc. performs its advisory services is located at 520 Lookout Street, Chattanooga, TN 37403 1713, 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 423.756.3480 or by fax 423.267.0009. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at patteninc.com.