Allen C. Brown, a prominent Chattanoogan and president of Brown Associates, suffered a sudden heart attack at the Lookout Mountain Golf Club on Saturday and was pronounced dead at a local hospital.
An avid golfer and father, Allen Brown graduated from Baylor School and received a degree at Washington & Lee University in 1972. He worked as a financial analyst for Provident (now Unum) before joining Brown Associates in 1978 and later becoming its president.
Extremely active in community and civic affairs, funeral arrangement for Mr. Brown are now incomplete
Brown Associates, Inc. was established in 1969 by Edward E. Brown, Jr., a second-generation Penn Mutual agent and general agent who saw the need to provide his clients more than life insurance, estate planning and employee benefit services. Brown Associates, Inc. initially offered mutual funds to its clients with an emphasis on retirement plans for the self employed and corporations. In the early 1970s, Brown Associates, Inc. began offering broader-based financial services with the emphasis on allowing its investors to participate in real estate offerings.
In 1978, Allen Brown, CFA, CLU & CFP, started a discount brokerage division allowing investors to receive a 50-80 percent discount on standard commission rates for stocks, bonds and options transactions. In 1990, Allen Brown became president of Brown Associates, Inc.