Organic growth in net asset flows is the primary objective this year of Atlantic Trust, the firm says, while adding that selective hiring will be key to making to making it happen, said New York-based president and chief operating officer Eric Propper.

Organic growth in net asset flows is the primary objective this year of Atlantic Trust, the firm says, while adding that selective hiring will be key to making to making it happen, said New York-based president and chief operating officer Eric Propper.

“We still see great opportunities for organic growth which we can achieve by attracting top notch talent, particularly in offices where already have density,” Mr Propper said.

Atlantic Trust currently has $15.1 billion in assets under management from 11 offices, which Mr Propper said is sufficient to cover the country, adding that he sees “no need” to open additional offices this year.

The firm, a division of Atlanta-based investment manager Invesco, has already made four key hires this month. The latest hire is Aaron Newland as a senior executive with investment management and estate planning experience in the Newport Beach California office.

Two weeks ago, Atlantic Trust added Jeff Dillman and Steven Smith as senior relationship managers in Washington, DC.

Both men worked at US Trust, and Mr Dillman has also worked at BNY Mellon Wealth Management and Bessemer Trust Company of Delaware, while Mr Smith also worked at Citi Private Bank.

And attorney Craig Falls, who joined Atlantic Trust as a relationship manager in Austin, worked in Goldman Sachs’s private wealth management division. The next likely hires will be for the firm’s Boston and Houston offices, Mr. Propper said.

In addition to its Atlanta headquarters, Atlantic Trust also has offices in New York, Baltimore,  Denver and San Francisco.

Mr. Propper thinks there will be “a lot of money in motion” this year and sees opportunity for Atlantic Trust.

“We want to position our firm to be considered when [those] clients are considering alternatives to their current wealth manager,” he said.

Why should prospective clients choose Atlantic Trust?

Steven Wade, partner for Knightsbridge Advisors, a New York-based executive search and consulting firm, said the firm’s low-key, unpretentious style has served it well. “They don’t go out of their way to attract attention,” Mr. Wade said. “They are quiet, thoughtful and professional.”

Rivals criticize the firm’s investment platform and association with Invesco. In response, Mr. Propper said the firm’s mix of open-architecture and proprietary investment products allows for customization and better investment decisions.

In an environment where major financial firms have disappeared, being part of a “stable global investment management firm” like Invesco is a competitive advantage, he said.

Mr. Propper cited a “changing of the guard” in the ultra-competitive New York market where “well-known names have disappeared.”

“Strong organizations will use the downturn to get even stronger,” he said. But challenges remain, he said.

“If you don’t have enough critical mass in a down market it puts tremendous pressure on profits and the ability to retain top talent,” he said. What’s more, clients remain skittish, Mr. Propper said.

“There’s still a high degree of reticence among clients given what we’ve experienced,” he said. “Clients are far more risk-averse, and given the shake-out of the markets, they’re taking time to reassess their next step.”