Avondale’s fast-pace growth centers on Nashville roots

In the first half of the year, Avondale has added more than $500 million in new assets, far outpacing the firm’s 14 percent growth clip in 2014, according to figures from Financial Advisor. Big growth gains have become the standard for Avondale’s wealth management arm, founded in 2009. In 2013, Financial Advisor recognized the firm’s wealth management line for being the fastest growing RIA in the country.

When including brokerage assets, Avondale has nearly $1.8 billion in assets. According to a news release, that makes the Nashville firm the third-largest RIA in Tennessee.

Waymon Tipton, who heads Avondale’s wealth management unit, points to the dynamic growth in Nashville.

“As you look at the number of public and significant private companies in Nashville, that is a target for us,” Tipton said. The growth of these types of businesses, who would put 401(k) investment plans into Avondale’s wealth management arm, is “absolutely helping” the firm’s growth, he said.

Krebs said a “significant portion of [Avondale’s] assets are in Nashville.”

As for what’s ahead, Krebs said Avondale is looking to “capitalize on being one of the better boutiques in the country.” That means further beefing up its services in offices, like Avondale’s newest location in Memphis.

“There’s really an opportunity to distinguish the firm from the big New York banks and like the Merrill Lynches of the world,” Krebs said of Avondale, which also includes equity research and investment banking, both heavily in the health care space. “Our opportunity is to be known for something, and doing that something well.”

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Friday, July 31st, 2015 EN

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