"Deep roots are not reached by the frost."
- J.R.R. Tolkien, The Fellowship of the Ring
Our predecessor firm, First Albany Asset Management, was established as a registered investment advisor in 1994 by First Albany Companies. The name of the firm was changed from First Albany Asset Management to FA Asset Management in 2003. Johnson Illington Advisors LLC ("Johnson Illington") was established in February 2005 with the purchase of the assets of FA Asset Management by individual officers of FA Asset Management and Illington Fund Management. In March of 2010, Johnson Illington purchased membership units owned by Thomas Lloyd Global Asset Management (Americas) LLC, the successor in interest to Illington Fund Management. Upon completion of this transaction, Thomas Lloyd owned 10% of Johnson Illington. At the time of this transaction, Johnson Illington was renamed Hugh Johnson Advisors LLC.
This may sound pretty complex...there were many steps along the way. Importantly most of the current employees were original employees or have been with us for our entire 20+ years.
With over $1.0 billion in assets that we manage, and over $1.0 billion in assets that we consult on, it sounds as though we are quite large. In the world of Registered Investment Advisors that's not large. We consider ourselves as "small," and we like it that way.
We would also say our approach to investing is simple to understand. We manage stock, bond, cash portfolios and portfolios that are a mix of the three (balanced portfolios). Our goal has always been to provide returns for our investors that are near benchmarks and at less than benchmark risk. We are clearly not a "knock the cover off the ball" manager and, therefore, not for everyone. We like it that way.
It is also worth noting that nearly every employee is a member (i.e. shareholder). They know if we do well for you they will do well for themselves. That makes a whole lot of sense to us.