Christopher P. Parr, President and founder, scribbled a rough business plan to start a financial advisory practice on a scratch pad while attending a “Thinking of Going into Business” seminar sponsored by the SBA in 1990. After spending a decade in corporate finance, wading through the challenges of five mergers, he had become disenchanted with the large corporate world and decided to take control of his own destiny.
He founded PARR Financial Solutions in January 1992. The firm initially provided strategic planning, forecasting, and MIS consulting services to corporate clients. Personal fee-only financial planning and investment advisory services were added in 1993 when Mr. Parr attained the CERTIFIED FINANCIAL PLANNER™ certification and joined the National Association of Personal Financial Advisors (NAPFA).
In order to achieve economies of scale, Parr Financial Solutions merged into Financial Advantage, Inc. (FAI), another fee-only financial advisory firm, in 2001. Mr. Parr became a principal and Chief Operating Officer of the firm. During his tenure, FAI increased assets under management from $66 million to $230 million, and according to the publication Wealth Manager consistently ranked in the top 250 independent financial advisory firms in the country.
In 2009, Mr. Parr made a strategic business decision to separate from FAI and to launch his own firm once again. The transition to Parr Financial Solutions, Inc. was completed seamlessly on September 30, 2009.