Pinkerton expands
<p>An artist's rendering of the new 31,766 square- foot hedquarters of Pinkerton Retirement Specialists, LLC.</p>
COEUR d'ALENE - Pinkerton Retirement Specialists LLC, a Coeur d'Alene-based investment firm, plans to break ground in May on a new 31,766-square-foot headquarters building.
The firm has been in leased office space at 2141 Merritt Creek Loop in Riverstone since 2004, and in Coeur d'Alene since 1997.
The new facility will give Pinkerton's headquarters 40 offices, an increase from 22, providing room for growth, said Dan Pinkerton, the founder and CEO. He and his wife, Kathryn, will own the building.
"We have added to our roster of very talented people who have the skill sets our clients are looking for, including in-house research, specialized estate planning, wealth management and pension plans," Pinkerton said.
Since the business moved to Coeur d'Alene in 1997, when it had five employees, it has expanded to 27 employees. That growth includes the addition of four additional certified financial planners this month, up from three on staff.
The new building will be on one-and-a-half acres of property next to the 10-acre Riverstone pond, property the Pinkertons purchased four years ago. He didn't have a new address.
The property is zoned both residential and commercial, Pinkerton said.
He said he hasn't settled on a general contractor for the building project, and declined to provide a cost of it. The building was designed by Coeur d'Alene architect John Eixenberger.
The building will have two luxury condominiums on the top floor, for family.
The firm this month acquired two other investment firms. With that, it now has nearly $500 million in assets under management.
The firm serves high-net-worth clients who are retired or near retirement. Pinkerton said the firm is paid based on the performance of clients' investments.
He said the firm has clients in 30 states, but 60 percent of clients are in the Inland Northwest.
"There's really unlimited opportunity going forward," he said.
Pinkerton recently launched a "private client group" division, which provides specialized estate planning and wealth management services to families worth more than $15 million.
The firm added another division, "institutional investment group," which specializes in pension plans, 401(k)s. It will be lead by Pinkerton's brother, Gary Pinkerton. He also leads the firm's "professional alliance group," which works with certified public accountants and attorneys.