PHILADELPHIA, March 26, 2012 (GLOBE NEWSWIRE) -- PFM Group, the nation's leading provider of independent financial and investment advisory services to state and local governments and non-profit entities, announced today that it has acquired Public FA, Inc. (PFA), the leading financial advisory firm in the state of Alabama and a respected service provider throughout the Southeast. Philip Dotts, PFA's President, will join PFM as a Managing Director and his colleagues Marcie Porter, Kari Fox and Elizabeth Fleming will also join the firm. They will continue to serve their clients from PFM's new office in Huntsville, Alabama.

Collectively, PFA's senior professionals represent over 50 years of experience in a broad spectrum of banking and public finance, with deep knowledge of the areas of general purpose municipal finance, public housing development financing, higher education and economic development finance. Since its formation in 2001, PFA has consistently been one of the leading financial advisors in Alabama and in the Southeast, with clients in more than 30 states including state and local governments, counties, utility boards, universities, airport authorities, and housing authorities.

"We are absolutely delighted to have a trusted professional with Phil Dotts' background, solid reputation, and knowledge base join PFM," said John H. Bonow, PFM Managing Director and CEO. "PFA is a natural partner for us, as they have proven that they share our culture of providing advice with the highest ethical standards and delivering outstanding customer service," he noted. "In addition," Mr. Bonow said, "the acquisition of PFA allows PFM to expand our services in new sectors, such as public and affordable housing, as well as into different geographic regions."

"This alliance not only establishes PFM in the Alabama marketplace, expanding our footprint in the Southeast, but also strengthens our client service capabilities throughout the country," explained PFM Managing Director Lisa Daniel, who is based in Memphis. "We see this as an excellent opportunity for Phil to bring his experience and knowledge to enhance the value-added services available to PFM clients, particularly in public and affordable housing and economic development. At the same time, we feel that the expanded resources that PFM, as a national leader in municipal finance, can offer existing PFA clients provide them with added value as well."

Mr. Dotts expressed similar enthusiasm for joining PFM Group.

"PFM is a firm that has always recognized the value of independent advice and has fostered the highest levels of integrity," he said. "That is the basis upon which I have worked for my whole career, and the foundation upon which PFA has built our practice here in Alabama and the sectors regionally and nationally in which we have been active. I also hope to provide our knowledge of such specialized sectors as public and affordable housing and economic development finance to many of PFM's clients across the country, and look forward to growing our client base together," he concluded.

Prior to founding his firm eleven years ago, Phil Dotts spent 25 years in corporate and public finance, including stints with major bank holding companies in North Carolina and Alabama and with a regional investment banking firm. He has had extensive experience in most areas of public and corporate finance and has managed taxable and tax-exempt financings for a variety of public sectors, including housing, healthcare, public utilities, higher education, airports, municipalities, and public school systems, as well as for numerous industrial development projects and state agencies. PFA also provides ongoing financial advisory and consulting services for a number of governmental clients in addition to its transactional work.  

Dotts is active in community service and currently holds leadership positions in a number of statewide organizations. He is a past chair of the Business Council of Alabama, the leading statewide business group with over 5000 members. He currently serves on the Alabama Commission on Higher Education, and is a member of the governing board of A+ College Ready, a program that has boosted Advanced Placement education across the state of Alabama.

He is a 1972 graduate of Davidson College and a 1980 graduate of the School of Banking of the South at Louisiana State University. He also studied economics through a program sponsored by the National Science Foundation. Phil Dotts is a Certified Independent Public Financial Advisor (CIPFA), one of only two to hold that designation in the State of Alabama. He lives in Huntsville with his wife Kathleen and has two adult daughters.

The Public Financial Management, Inc. logo is available at

John H. Bonow, CEO and Managing Director, PFM Group
(215) 567-6100

Lisa Daniel, Managing Director, PFM Group
(901) 682-8356

Phil Dotts, President, Public FA, Inc.
(256) 536-3035