Principals purchase Fayetteville firm Garrison Financial

Garrison Asset Management LLC — doing business as Garrison Financial Corp. — has been sold to current employees Kerry Bradley (president), Glenn Atkins (executive vice president) and James Bell (vice president), the Fayetteville company announced Wednesday (March 29).

Terms of the deal were not disclosed. Tom Garrison was the previous owner. Garrison is the former CEO of Fed Ex Freight East of Harrison, responsible for managing one of the largest regional freight carriers in America, until his retirement in 2002.

His firm, Garrison Financial Corp., was formed in 2004 by him and his two brothers to manage their family’s investments and business enterprises.

In February 2005, Garrison Financial bought out Rebecca Garner’s firm, Garner Asset Management, in February 2005, and renamed it Garrison Asset Management.

Garrison said the sale was finalized in late February.

“Glenn, James and Kerry have done a great job managing the business in addition to providing exceptional investment management for our family,” Garrison said in a statement. “They have done an outstanding job in terms of client growth and service. As clients ourselves, we’ve had the opportunity to witness this expertise first-hand.”

The new owners — who have each worked at the firm for at least 17 years — will continue to serve in their current roles and say they have no plans to relocate the firm. The ownership transition will not disrupt or change the services provided to current clients, according to the company.

“We are grateful for this opportunity and look forward to continued growth as one of the largest independent investment management firms in the region,” Bradley said in a statement.

Going forward, the firm will do business as Garrison Asset Management.

Garrison is a Securities and Exchange Commission (SEC) registered investment adviser, managing more than $300 million in assets and serving approximately 300 clients in 20 states.