Pinkerton Retirement Specialists LLC, a growing Coeur d’Alene-based wealth-management company, has acquired two other financial adviser offices and plans to construct a new building in the Riverstone development that will have three times the office space it currently occupies, says Dan Pinkerton, the company’s founder and namesake.
As part of its expansion plans, Pinkerton Retirement Specialists also is launching new divisions to focus separately on its highest net worth clients, institutional investor clients, and alliances with accountants and attorneys, Pinkerton says.
Pinkerton Retirement Specialists currently has a staff of 27 people, including seven certified financial planners. A total of six employees currently are based at Pinkerton’s recently acquired small offices in Spokane and Cleveland.
“The new building will have room to grow to 40 people,” Pinkerton says, adding that Pinkerton Retirement Specialists plans to increase staff over time through a likely combination of organic growth and other acquisitions.
The planned 31,800-square-foot, two-story, brick building will be constructed on the northwest shore of a manmade lake in Riverstone Park, in the central area of Riverstone. Pinkerton bought the land there a few years ago and will own the new building, he says.
Eixenberger Architect, of Coeur d’Alene, is designing the project. Pinkerton says he hasn’t selected a contractor for it yet. He declines to disclose a cost estimate for the project, saying only that the budget for it isn’t final yet.
Pinkerton says he expects construction will begin in the coming year, and the company will move into the new building by the spring of 2015.
The two-story building also will include two 4,500-square-foot luxury condominiums on the top floor for visiting clients and family, Pinkerton says. “We treat our clients like they are family,” he says.
Pinkerton Retirement Specialists currently is located in leased quarters at 2141 Merritt Creek Loop, in Riverstone Office Park, which is located in the original, southeast section of the mixed-use development.
Earlier this month, Pinkerton Retirement Specialists acquired the Spokane office of Abridge Partners LLC, and Pinkerton Wealth Management, of Cleveland. With the acquisitions, Pinkerton Retirement Specialists now manages assets valued at nearly $500 million, up from $251 million in 2010.
The Spokane office, located on the 17th floor of the Paulsen Center, at 421 W. Riverside, now operates as Estate Strategies, a unit of Pinkerton Retirement Specialists, Pinkerton says. Estate Strategies will manage investment assets for Pinkerton Retirement Specialists’ high net-worth clients who have more than $20 million in assets.
 “We’ll keep the Spokane office open at this point,” Pinkerton says, adding that the Cleveland office, which Pinkerton Retirement Specialists acquired from Pinkerton’s older brother Gary, will transition to Coeur d’Alene.
In Coeur d’Alene, Gary Pinkerton will lead Pinkerton Retirement Specialists’ institutional investment division, which specializes in managing pension plans, 401(k) plans, and investment plans for nonprofits. He also will lead the professional alliance division, working with accountants and attorneys.
Pinkerton says the company manages portfolios primarily for clients with investment assets ranging from $500,000 to $100 million.
The company recently started a new division, however, to offer low-cost institutional investment portfolios for certain clients, Pinkerton says. The division was created primarily to offer children of clients who don’t yet have $500,000 in investment assets access to the same investment portfolios as their parents, he says.
Pinkerton Retirement Specialists has clients in 30 states.
About 60 percent of Pinkerton Retirement’s clients are based in the Pacific Northwest, and most come to the company through referrals from other clients.
Pinkerton, 48, a Stanford University graduate and Alaska native, has been a financial adviser for 26 years, based in Northern California and Alaska, before settling in Coeur d’Alene in 1997. Pinkerton Retirement Services moved into the Riverstone development as one of its original tenants in 2004.
Pinkerton says the company retained all of its employees and even continued to grow during recessions of the early and late 2000s.
Pinkerton was named the top financial adviser in Idaho in 2010 by Barron’s, a national business and financial weekly publication of Dow Jones & Co.