Proffitt & Goodson Inc. (Knoxville)

Name: Proffitt & Goodson Inc.
Address: 4800 Old Kingston Pike, Ste 200, Knoxville, TN, 37919 6424
Telephone: 865-584-1850

Proffitt & Goodson Inc. is a large advisory firm based in Knoxville. It manages $429.13 million of regulatory assets for 622 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdiction of Tennessee.

Proffitt & Goodson provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and financial consulting. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Proffitt & Goodson: assets under management

The assets under management (AUM) of Proffitt & Goodson Inc. is $429.13 million. The firm's AUM has grown by 223% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $427.81 million in discretionary accounts and $1.32 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $704.79 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $87.92 thousand.

Proffitt & Goodson has custody of $17 million in cash and securities for 14 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 grade corporate bonds, which make up 20% of the firm’s portfolio. Investments in government bonds form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Proffitt & Goodson Inc. for their services and products based on a percentage of assets under management and hourly charges. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Proffitt & Goodson serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Proffitt & Goodson is high net worth individuals with 143 clients and $390.39 million of assets under management. Among the 7 most similar advisory firms, Proffitt & Goodson has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $429.13 million for 203 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.

Proffitt & Goodson doesn't advise any private funds.

Careers at Proffitt & Goodson Inc.

The company employs 8 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. 5 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
David Norton Goodson	Director, president	1 Sep 1986	50% - 75%	1186819
James Nicholas Proffitt	Chairman, director, secretary, treasurer, chief compliance officer	1 Sep 1986	50% - 75%	4342210
James Michael Howard	Manager of operations and information technology and chief compliance officer	1 Oct 2004	Other	4753035
Benjamin Tate Goodson	Managing director	1 Jul 2019	25% - 50%	6229086
Neil Walker Goodson	Managing director & chief compliance officer	1 Jul 2019	25% - 50%	6762893

Based in Knoxville

The principal office where Proffitt & Goodson Inc. performs its advisory services is located at 4800 Old Kingston Pike, Ste 200, Knoxville, TN 37919 6424 The mailing address of the firm is P.O. Box 11629, Knoxville, TN 37939 1629. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 865-584-1850 or by fax 865-584-1852. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at proffittgoodson.com and its LinkedIn profile.