Local family business, Colton Groome & Company recently changed ownership, carrying the firm’s legacy of expert financial advice in Western North Carolina into the next generation. On November 15, 2015, Tate and Matt Groome, the sons of Chairman and longtime owner George Groome, purchased equal shares in the company to become co-owners of the firm. This natural transition for the family-owned and operated business signifies that the firm will have strong leadership in place through the year 2050, and reflects the firm’s dedication to providing quality financial support and advising services to their clients now and far into the future.
Both graduates of the University of North Carolina at Chapel Hill, the Groome brothers came to the family business by different paths. Tate joined the family business in 2003 after teaching elementary school and coaching basketball for at-risk youth. Last year, he was recognized as one of the “20 Most Creative People in Insurance” by LifeHealthPro and released a book titled, ...the Best Policy, which advises grantors and fiduciaries alike to use honesty as a guiding principle in the monitoring, management, and restructuring of irrevocable life insurance trusts. In 2009, Matt decided to join the family firm as well, leaving his job with a CPA group in Charlotte. In 2015, he was chosen as one of the National Association of Plan Advisors’ (NAPA) Top 50 Plan Advisors under 40, selected from nearly 10,000 NAPA members.
Born and raised in Asheville, Tate and Matt are excited to take on this new role with Colton Groome & Company as prominent business leaders in their home community. As co-owners of the firm, Tate and Matt are now poised to meet the financial advising needs of the next generation of Asheville-area residents and to serve the WNC community. Matriarch Barbara Groome reflects, “As a young family eating dinner around the kitchen table with our two sons, we would talk about this day. Each of our sons brings their special and unique gifts to our family business. WIth a lot of laughter respect and love, our family and others in the firm have created a family business that is based on integrity, knowledge and caring for our clients and community.”