MEMBER SIGN IN
Not a member? Become one today!
         iBerkshires     Berkshire Chamber     MCLA     City Statistics    
Search
Atlas Private Wealth Management Moving to North Adams
By Tammy Daniels, iBerkshires Staff
03:44AM / Friday, October 24, 2014
Print | Email  

Atlas President Gregory R. Britton has a room with a view in what will be his new office in North Adams. The financial management firm is moving its offices from Williamstown to North Adams.

NORTH ADAMS, Mass. — One of the nation's fastest growing financial firms is shifting its base of operations from Williamstown to North Adams.

Atlas Private Wealth Management, formerly Dion Money Management, is moving its 20 employees to the third-floor of the former Wall-Streeter Shoe Co. building on Union Street owned by David Moresi.

Atlas is an independent wealth management firm and part of Focus Financial Partners LLC. It offers wealth and investment management, financial planning and some tax services. Financial Advisor magazine ranked it 15th in fastest growing firms.

Gregory R. Britton, president and CEO, said recently that the company was intrigued by the city's potential and its central location for employees. Finding the right office space was a big attraction as well.

"I think our employees will love it," he said, sitting in the third-floor break room while work continued on the new offices. "We had difficulty finding that space at a reasonable cost in Williamstown."

Atlas has operated out of the "Barn" on Route 2 at the Williamstown/North Adams line for some years; the old barn had originally hosted the Country Peddler antique store and then offices for Storey Communications.

"It was picturesque Berkshires, but for the type of firm we are now, it just wasn't conducive to I think a proper work environment," Britton said. "Too many floors, too many levels."

There was also the difficulty of making the historical building compliant with the Americans With Disabilities Act.

The new location is fully compliant, is in close proximity to eateries and shops downtown, and offers room to grow.

That space is a necessity, Britton said, for a firm with more than 1,800 clients and managing more than $1 billion in assets.

Quick Tips for Financial Security

1) Always pay yourself first
Save 10 to 20 percent of every paycheck

2) Hire a professional
Investing is easier than ever, but get a second, objective opinion

           Advice from Gregory Britton

The company changed its name in January with employee input to reflect its more national and international reach. The same day, it acquired Albany (N.Y.) Financial Planners, which managed $400 million.

Atlas now employs 30 people, including in Albany, N.Y., Manchester, Vt., and one person in the state of Florida.

"After acquiring most companies go through layoffs," Britton said. "We actually haven't laid anyone off and we've hired three people."

With the economic climate improving, he sees opportunities for growth for both the firm and its clients.

"As we continue to grow we have capital that allows us to merge with other firms," he said. "Right now we have a few nondisclosure agreements signed with a few other firms that we're looking to expand with as well.  

"We're in growth mode, it does allow us to have more skills and add more to clients."

People are moving away from the brokerage houses, he said, and more toward independent financial planners they know will be on their side.  

"We're dealing with the regular people out there that saved correctly using their 401(k)s and 403(b)s and doing what they need to do. We're helping those people."

Britton hopes to do more in training up future financial advisers by extending internships through Williams College to Massachachusetts College of Liberal Arts.

"We want to be able to recruit and retain younger people ... usually after college they leave," he said. "If we can provide the jobs they'd get in New York City, Boston, San Francisco right here in the Berkshires.

David Moresi is planning a new vestibule and parking lot improvements among other work at the Union Street building.

"I think people would want to stay here if they can."

Moresi said having Atlas relocate here was a boost for the city.

"This is a good thing for North Adams," he said. "It's been great working with Greg on this.

"Because of the fact we have more tenancy here, we are taking a step further by doing some improvements on the Willow Dell side."

Moresi said he plans to fix the parking lot and add new lighting and fencing, and add a vestibule to the building.

He's also taking on the demolition of the tiny two-story building at the bottom of the back driveway to the old Drury. The structure is part of the Romeo estate that includes five vacant buildings on Houghton Street.

"The building is being gifted to us and we're going to tear it down and make green space," he said.

Atlas expects to be into its new offices around mid-November.

"The only concern I do have, is if we continue on the growth strategy we have, we'll run out of room," Britton said.

"I hope it's a problem we have in a year."

0Comments
More Featured Stories
NorthAdams.com is owned and operated by: Boxcar Media 102 Main Sreet, North Adams, MA 01247 -- T. 413-663-3384
© 2011 Boxcar Media LLC - All rights reserved