D.A. Davidson Acquires Locally-Owned Investment Firm

Montana-based investment firm D.A. Davidson hired several financial professionals of locally-owned firm Morton Clarke, a Seattle broker-dealer and registered investment adviser.

The Morton Clarke team will join D.A. Davidson in late February and will work from D.A. Davidson’s offices in downtown Seattle, according to a press release.

“We’re pleased to have Morton Clarke join us as we continue to grow in the Seattle area, and believe this group is a good strategic fit with our firm,” said Jim Kerr, president of the Individual Investor Group for D.A. Davidson. “Our companies’ cultures and reputations for excellence are similar, and we will now focus on making sure our new Morton Clarke clients continue to receive the same great service.”

The move will allow the Morton Clarke group to enhance the services it provides by joining a larger company with more capabilities. The group also expressed confidence that Davidson will offer the same kind of individual attention that Morton Clarke clients are accustomed to receiving.

John Morton, a Mercer Island resident since 1977 and managing director of Morton Clarke, helped start the firm in 1995 with equity partner Steve Clarke, a senior vice president who left Kidder Peabody & Co. to capitalize on their fixed income specialty. Dually registered, Morton Clarke provided management of both fixed income and equities.

John's spouse Harriet Morton, who also helped launch Morton Clarke, said the firm was pleased to join with Davidson — whose employees had volunteered as with non-profit tutoring program , which she started.

"Morton Clarke is pleased to become part of this for-profit firm with similar values," she said.

Morton's son, Trent, and daughter, Audrey, will also join Davidson as financial consultants. Trent joined the firm in 2000 after five years at Merrill Lynch in New York City trading emerging market bonds.

“We have enjoyed servicing our clients as an independent entity for many years, but when the opportunity to join forces with Davidson came along, it made good sense to us,” said John Morton. “We feel our clients will be the beneficiaries of this combination.”