Asset management is the practice of optimizing the value and performance of assets like finances, real estate, or personal possessions to meet financial goals, protect wealth, and increase returns, with asset management helping individuals attain financial independence while fulfilling all personal and financial objectives simultaneously.
Chattanooga, Tennessee, presents asset managers with both opportunities and challenges for asset management. As Tennessee’s fourth-largest city and economic hub of the southeastern region, Chattanooga features an expanding and varied economy consisting of manufacturing, healthcare, tourism, technology, and education sectors. Chattanooga boasts an attractive real estate market featuring historic homes as well as modern condos—something few other cities in Tennessee can match!
This article will introduce some of the various asset management services and options available in Chattanooga for different kinds of assets and investors and provide some tips and advice on selecting an optimal solution that meets your individual needs.
Financial Asset Management
Financial asset management refers to the practice of overseeing all your financial assets—stocks, bonds, and mutual funds—in order to diversify your portfolio while decreasing risks and increasing returns and planning for the future in an affordable manner.
Chattanooga, Tennessee, boasts various financial asset management firms that can assist you with all of your asset management needs, with some top-rated firms including:
- Franklin Wealth Management: Franklin Wealth Management is a fee-only financial planning and investment management firm serving individuals, families, and businesses in Chattanooga and throughout Tennessee. Their comprehensive services encompass retirement planning, estate planning, tax planning, and investment management—not to mention they’ve been recognized by multiple publications as being among the best advisors!
- Linear Asset Management: Linear Asset Management is an independent registered investment advisor specializing in customized portfolio management for both high-net-worth individuals and institutions. Their approach utilizes rigorous research with disciplined diversification methods tailored specifically to individual client portfolios. Furthermore, Linear Asset Management also offers financial planning, risk management, and tax optimization services as part of its service offering.
Here are a few testimonials and examples from these firms that show they’ve helped clients meet their financial goals:
- Franklin Wealth Management: “Franklin Wealth Management was instrumental in our retirement planning. They created a realistic budget, optimized our investments, and minimized taxes while always remaining responsive, professional, and trustworthy—an outstanding experience!” John and Mary Smith from Chattanooga
- Linear Asset Management: “Over the past 10 years, linear asset management has provided us with superior returns while managing risk effectively. Additionally, they’ve advised us on various financial matters, including estate planning, charitable giving, and education funding, showing their expertise while always acting ethically.” Robert and Susan Jones from Chattanooga, Tennessee.”
Real Estate Asset Management
Real estate asset management (REAM) encompasses overseeing all aspects of real estate assets, be they residential, commercial, or industrial. REAM allows property owners and managers to maximize the value and performance of their real estate while decreasing expenses and optimizing cash flow.
Real estate asset management differs from property management by placing greater focus on strategic aspects such as market research, asset valuation, and portfolio optimization, while property management generally involves more operational duties like maintenance services, tenant screening processes, rent collection practices, and accounting compliance, among others.
There are many best practices and strategies for real estate asset management, such as:
- Conducting regular market analysis to understand the supply and demand trends, the competitive landscape, and the potential opportunities and threats for your properties.
- Performing periodic asset valuations to assess the current market value, the projected cash flow, and the return on investment of your properties
- Optimize your portfolio by diversifying across different property types, locations, and risk profiles and by selling or exchanging underperforming or overvalued properties.
- Implementing value-added strategies to improve the physical condition, the functional utility, and the aesthetic appeal of your properties, such as renovations, upgrades, or repositioning
- Maximizing tenant retention and satisfaction by providing quality service, competitive pricing, and attractive amenities
Here are some examples and case studies of successful real estate asset management projects in Chattanooga:
- The Tomorrow Building: Located in downtown Chattanooga, The Tomorrow Building was transformed from an historic structure into co-living spaces for young professionals by renovating both interior and exterior spaces, adding modern features and amenities, creating an inviting community-oriented atmosphere, increasing occupancy rate from 50% to 95%, rental income by 40%, and property value by 50%.
- Signal Mill: Located in Chattanooga’s North Shore District, The Signal Mill was transformed from an abandoned textile mill into a mixed-use development with office, retail, and restaurant spaces. The project involved maintaining its historic character while drawing in high-quality tenants to maximize net operating income by 60% and occupancy rate by 85%, as well as property value increases of 70%.
Property Management
Property management refers to overseeing the day-to-day operation and upkeep of real estate assets such as rental homes. Property managers ensure your properties remain in top condition for tenants who pay on time while meeting any legal or financial requirements that might exist.
Property and real estate asset management are inextricably interwoven; each plays an integral part in helping real estate investments reach their strategic goals and objectives. Property management tends to require more time, energy, and expertise than asset management does, potentially making DIY efforts prohibitively expensive or inconvenient for real estate investments.
Therefore, to meet all your property management needs in Chattanooga effectively and professionally, There are reliable services offering quality service with exceptional results, such as:
- The Chattanooga Property Shop: As a full-service property management firm serving residential and commercial properties throughout Chattanooga and its surrounding areas, The Chattanooga Property Shop specializes in marketing, leasing, maintenance, and accounting eviction inspections. Their experienced property managers strive to offer excellent customer service while increasing return on investment through maximum return rates for each tenant they manage.
- Chattanooga Property Management: Chattanooga Property Management is a locally owned and operated property management firm that specializes in managing single-family homes, duplexes, and small apartment complexes located throughout Chattanooga and its neighboring counties. CPM provides tenant screening, rent collection, maintenance coordination, financial reporting, and legal compliance services, earning themselves the reputation for honesty, reliability, and responsiveness, of which they boast an impeccable track record.
- First Property Management has been serving Chattanooga and surrounding communities since 1985 with quality property management services including advertising, leasing, maintenance, and accounting collections enforcement. Their proven track record ensures high-quality results from this family-owned and operated property management firm.
Here are some tips and advice for choosing a good property management company and working with them effectively:
- Do your research: Check the credentials, reputation, reviews, and references of the property management companies you are considering. Ask them about their experience, qualifications, fees, services, policies, and procedures. Compare and contrast their strengths and weaknesses.
- Communicate your expectations: Be clear about your goals, needs, preferences, and concerns regarding your properties and tenants. Establish a mutual understanding of roles, responsibilities, expectations, and performance indicators. Agree on a communication method, frequency, and format.
- Monitor and evaluate: Review the reports, statements, invoices, and feedback from the property management company regularly. Track the performance, progress, and results of your properties and tenants. Provide constructive feedback, praise, or criticism as needed. Address any issues or problems promptly.
Conclusion of Asset Management
Asset management in Chattanooga Tennessee can be an extremely beneficial process for investors and property owners. By optimizing the value and performance of all types of assets—financial, real estate, or otherwise—asset management helps maximize value for all types of portfolios you may own, such as bonds or stocks, as well as personal possessions such as real estate and even family valuables.
Chattanooga Asset Management Group provides various asset management options and services tailored specifically for different kinds of assets and investors, meeting any individual’s goals, preferences, budget, and risk tolerance to select an ideal solution.
For additional resources regarding asset management in Chattanooga, Tennessee, check out these sources:
- Chattanooga Chamber of Commerce: The Chattanooga Chamber of Commerce is an organization that supports and promotes the economic development and growth of Chattanooga and its businesses. It provides information, resources, networking, and advocacy for its members and the community.
- Chattanooga Realtors: Chattanooga Realtors is an association that represents and serves the real estate professionals in Chattanooga and the surrounding area. It provides education, training, ethics, standards, and services for its members and the public.
- Chattanooga Financial Planners Association: The Chattanooga Financial Planners Association is an organization that represents and serves the financial planning professionals in Chattanooga and the surrounding area. It provides education, certification, networking, and advocacy for its members and the public.
Are you starting or expanding asset management in Chattanooga? Reach out now. Our experienced team is on standby to meet all of your asset management needs—financial, real estate, or otherwise—today.
At Asset Advisory Partners LLC, we pride ourselves on offering personalized and professional service tailored specifically to you and your goals. We will analyze your current situation, identify opportunities and challenges facing you, create an asset management plan tailored specifically for your asset portfolio needs, implement it, monitor it, and adjust it as necessary so you achieve the desired results.
Since 2014, our asset management experts have assisted hundreds of clients from Chattanooga with their asset needs, earning many testimonials and referrals along the way.
No matter your financial goals—whether that is increasing wealth, protecting assets, or optimizing returns—we are confident we can assist! Don’t put off reaching out: let us assist with all of your asset management needs here in Chattanooga; you won’t regret doing so!
Asset management doesn’t need to be complex or challenging—we are your go-to solution in Chattanooga!
Thank you for reading our article; we hope it was both educational and useful for you. If any queries, feedback, or thoughts arise as a result of reading it, please don’t hesitate to get in touch; we would love to hear from you!
