D.A. Davidson will move into the Smith Barney building on Main Street in Pendleton.<BR><I>Staff photo by Sarah Britain

The Northwest’s largest investment firm will move into the downtown office of Smith Barney in Pendleton.

The Montana-based D.A. Davidson & Co. will take over the space at 111. S. Main St. on Dec. 15, the same day the company will take over operations of the Smith Barney office in Port Angeles, Wash.

While the name on the front will change, much of the office staff will remain the same, and the financial consultants will keep their clients, not Smith Barney.

Smith Barney announced plans in mid October to close 20 offices nationwide, including in Pendleton and Corvallis, and consolidate 18 others. The company will shut down the Pendleton branch three days before D.A. Davidson moves in.

D.A. Davidson spokeswoman Jacquie Burchard described the incoming company as a full-service investment firm that will give Smith Barney’s local clients the access to the services they have come to expect.

“That means that we are competitive with the larger firms while we operate away from the noise of Wall Street,” she said. “We’re trying to alleviate some concerns and encourage people not to jump ship.”

Jim Kerr, president of D.A. Davidson’s Private Client Group, and Burchard were part of a team Monday that met employees and checked out the location.

“I like the people and I like the office,” Kerr said. “I think it’s going to be a good fit for us.”

Kerr said D.A. Davidson has a history of doing well in rural communities. He also said he liked what he saw during his visit.

Smith Barney employs four financial consultants in the Pendleton office and three staff workers. The financial consultants and two staff will stay in the transition. Kerr said D.A. Davidson was keeping the six employees as its initial local workforce, but the company hopes to grow.

D.A. Davidson has offices in Walla Walla and Kennewick. The Pendleton addition will run as a satellite of the Kennewick office.

Senior Vice President and Kennewick Branch Manager Sharon Rhodes will oversee the local operation, Burchard said. Rhodes has been with D.A. Davidson since 2001, when the firm opened the Kennewick office. She also manages the company’s Walla Walla branch.

While the downtown address will remain the same, Burchard said the company doesn’t yet have a phone number.

David Adams Davidson founded D.A. Davidson & Co. in 1935 and his son, Ian B. Davidson, is the company’s chairman and has worked for the firm for 50 years. The company operates offices in 17 states with a focus on the West and Midwest. D.A. Davidson also is the leading Northwest-based underwriter of public offerings for companies in the greater Northwest, and it has sister companies, such as Davidson Trust Co., that provide other financial services.

D.A. Davidson is the cornerstone firm of Davidson Companies, a larger financial services holding company that is employee-owned in Great Falls, Mont. Davidson Companies recently passed the 1,000-employee mark.