The Patten Group, Inc. (Chattanooga)

Name: The Patten Group, Inc.
Address: 832 Georgia Avenue, Chattanooga, TN, 37402
Telephone: 423-531-0360

The Patten Group, Inc. is a large advisory firm based in Chattanooga. It manages $344 million of regulatory assets for 922 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of California, District of Columbia, Florida, and 11 other states.

The Patten Group provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

The Patten Group: assets under management

The assets under management (AUM) of The Patten Group, Inc. is $344 million. The firm's AUM has grown by 5% since the beginning of its operation, and $870.05 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $340.79 million in discretionary accounts and $3.21 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $373.26 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $356.87 thousand.

The Patten Group has custody of $151.5 million in cash and securities for 197 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 47% of the total AUM. The second-largest asset type is investment and business development companies, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay The Patten Group, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients The Patten Group serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of The Patten Group is high net worth individuals with 118 clients and $256.65 million of assets under management. Among the 12 most similar advisory firms, The Patten Group has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $344 million for 335 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

The Patten Group doesn't advise any private funds.

Careers at The Patten Group, Inc.

The company employs 14 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 7 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Zeboim Cartter Patten	Principal	1 Mar 2014	75% - 100%	4347041
William Joseph Bankston	Chief compliance officer	1 Mar 2014	Other	6224119
Jody Bankston	Chief compliance officer	1 Mar 2014	Other	6224119
Adrienne Lana Zingrich	Chief compliance officer	1 Jan 2016	Other	5364434

Based in Chattanooga

The principal office where The Patten Group, Inc. performs its advisory services is located at 832 Georgia Avenue, Chattanooga, TN 37402, 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 423-531-0360 or by fax 423-805-3920. The normal business hours are 8:30am-5:30pm on Monday - Friday. You can find more information about the New York firm at 360patten.com.