Attorney buys out firm’s co-founder, takes over as managing partner

Jamie Traughber is now managing partner at Hargrove Traughber law firm
Jamie Traughber is now managing partner at Hargrove Traughber law firm.

September 19, 2017, Business First Louisville, David A. Mann, Reporter

An estate law firm with three offices in the region has a new name and managing partner as a result of a recent transaction. Hargrove Madden LLP is now Hargrove Traughber LLP. The name change came after Jamie Traughber, an attorney at the firm since the beginning, bought an equity share of the business and cofounding attorney Roger Madden settled up and departed for a position at Rose Grasch Camenisch Mains PLLC in Lexington. Attorney Jamie Hargrove is the other founder and equity partner in the firm.

The attorneys declined to disclose the financial details of the transaction but said Madden’s departure was amicable. His new position allowed him to take on a wider variety of cases, while Hargrove Traughber LLP stays focused on estate law. Traughber said his buy-in process started about a year ago and that the buy-out transaction “all came together pretty quickly” in
recent months.

The name change took effect in July, at which time Traughber not only got his name on the door but also took over as managing partner.

“He’s bright, he’s articulate, he understands and communicates well with clients,” Hargrove said of Traughber. “He’s one of the rare individuals that can truly be at this level of a partnership.”

Madden was also complimentary: “He’s got everything he needs to manage and run a firm.”

The role change will see Traughber, 36, managing the day-to-day operations of the firm and overseeing marketing efforts, he told me during an interview at the firm’s office yesterday. He said there are plenty of challenges in this field of practice. First, he said, state tax laws are always changing, and attorneys must stay current on them. Secondly, the small firm has plenty of larger
competition that offers estate-planning services.

“We have to stay on top of our knowledge base,” to compete in the space, Traughber said. “A lot of the big firms have more resources.”

Hargrove, Traughber and Madden all have experience with larger firms. They worked for Stoll Keenon Ogden PLLC before starting this firm as a boutique trust and estate practice in 2011.

Hargrove Traughber LLP work consists of wills, family trusts, business succession, tax management and asset protection. Traughber told me it’s one of the largest high-net-worth practices in the region. And in many of the high-net-worth cases it serves, a family business is involved, Traughber said.

Its clients are coast to coast but are focused in this region, Traughber said. Many of its largest clients are in the Nashville, Tenn., area.

The firm has 13 employees, including three attorneys.

It has offices in Louisville, Lexington and Brentwood, Tenn. Traughber said he wants to grow the business in its current cities and hopes to see the practice expand into other areas such as Indianapolis, Cincinnati, St. Louis and Pittsburgh in the next few years.

Leave a Reply

Your email address will not be published. Required fields are marked *