J.T. Mullen Joins Fairport Asset Management

J.T. MullenFairport Asset Management announced today the appointment of J.T. Mullen as Chief Investment Strategist and Chair of the Investment Committee. Mullen previously served as Senior Vice President and Chief Financial Officer of The Cleveland Foundation, the second largest community foundation in the country and a venerable presence in Northeast Ohio. During his 23 year tenure, the Foundation’s endowment grew from $400 million to $1.8 billion. He was responsible for managing both the Foundation’s investments and its internal financial function. Mullen retired from The Cleveland Foundation in 2010. 

Among other accolades throughout his career, Mullen was named “Chief Financial Officer of the Year” for charitable organizations by Crain’s Cleveland Business in 2007. 

“J.T.’s talent, expertise and stellar reputation make him an ideal fit for the role of Chair of the Investment Committee at Fairport,” said Heather Ettinger, co-managing partner. “We are thrilled to have J.T. join us.”

According to Kenneth Coleman, co-managing partner, “Our ability to attract a nationally known investment professional of J.T.’s caliber is yet another testament to the growing stature of Fairport as a top financial planning firm.” 

“I have long admired Fairport and their impressive investment team,” said Mullen. “I look forward to contributing to the strategic investment planning process as we collectively work to address the current and future needs of Fairport’s clients.”

Also serving on the Investment Committee are John Silvis, Director of Investments, and Rick D’Amico, Manager of Investments. In addition, Chairman and Founding Partner Paul Abbey is serving on the committee on an interim basis as Mullen steps into the new leadership role.

About Fairport Asset Management

Celebrating its tenth anniversary in 2011, Fairport provides wealth management services to high net worth individuals, families and select institutions and has specialized services for succession and liquidity planning for business owners, executives, and financial issues and education unique to women. The firm’s professional staff includes CPAs, CFP certificants and CFA charter holders. Fairport was recently recognized by Investment News magazine as one of the Top 30 registered financial planning firms in the United States.* More information available at www.fairportasset.com.

*Investment News published in its December 2010 issue a listing of the Top 30 Financial Planners conducted by RIA Database, a Charlotte NC based company that focuses on providing accurate, relevant data for sales professionals on registered investment advisors. The national ranking is based on discretionary assets under management as of September 30, 2010. RIA Database qualified and ranked investment advisers based on the following criteria: 1) They must have a significant number of financial planning clients 2) Greater than 50% of their business must serve the individual investor marketplace 3) They must not be doing business as a broker-dealer or a bank 4) A dominant portion of their business must not be invested in proprietary products or managing proprietary products.