NASHVILLE, Tenn., June 29, 2016 /PRNewswire/ — Avondale Group, the parent company of Avondale Partners, LLC, announced today the acquisition of The Steine & Gooch Company, a Nashville-based investment advisory and portfolio management firm founded here in 1985.

The firm was established by David Steine, Jr. and David Gooch. They and their staff of Luther McDaniel and Marisela Garcia will move their offices on June 30^th to Avondale’s West End location at Two American Center and operate as Avondale Advisors.

According to Avondale Partners CEO Pat Shepherd, the acquisition continues the growth of Avondale’s Wealth Management division with a firm whose philosophy and approach fit well with Avondale’s.

“This acquisition is a pivotal step in continuing to strategically expand our Wealth Management division,” said Shepherd. “Steine & Gooch shares our independent business model with a commitment to an individualized approach, meeting each client’s needs with independent, unbiased advice and products. They are a perfect fit for us.”

He added that the firm’s personal, hands-on approach with clients will remain the same and clients will experience no changes to their portfolios as a result of the move.

Avondale’s Wealth Management division, established seven years ago, has more than $1.7 billion under management and was ranked last year by Financial Advisor magazine as one of the nation’s largest registered independent advisory (RIA) firms.

The addition of Steine & Gooch complements Avondale’s existing fee-based business, which includes personal high net worth, individual, business and retirement plan accounts as well as the management of corporate 401(k) accounts, defined contribution plans and professional practice tax deferral plans.

“Avondale’s core values align with our own,” said Gooch, “and we have been impressed with their people for some time. We believe our clients will be well served by the resources Avondale provides.”

Steine supervises investment services, with more than 30 years of experience managing corporate and individual trusts and pooled stock and bond funds. He holds an MBA from Vanderbilt University’s Owen Graduate School of Management. Gooch has managed investor and administrative services of the company since its inception. He holds an MBA from Vanderbilt University’s Owen Graduate School of Management.

In addition to its headquarters in Nashville, Avondale has offices in Boston, Memphis, New York, San Francisco and St. Louis. Founded in 2001, the firm is entirely employee-owned. More information is available at www.avondalepartnersllc.com

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SOURCE Avondale Partners, LLC