A Wake Forest legacy, rooted in Charlotte
'The Pearl adds a shining new jewel to the crown of the Queen City,' he said.
The Pearl Innovation District is a major new development, focused on innovation in health care, education, and research. It's located near Midtown Charlotte and is being developed by Atrium Health in partnership with Wake Forest University and other institutions. The Pearl is also designed as an innovation hub bringing together academics, medical research, biotech companies and entrepreneurs.
The Bragg family name is probably best known in Charlotte for Bragg Financial Advisors, an independent wealth advisory firm managing over $4 billion for high-net-worth clients and families. Frank Bragg founded the firm in the Johnston Building on Tryon Street in 1964, more than 20 years before the Bank of America Tower and its namesake NFL stadium were built.
Today, three Bragg brothers and a brother-in-law are senior leaders in the business. Benton is president and CEO and John and Phillips are vice presidents. Brother-in-law Steve Scruggs, CFA, is part of the investment team and serves as portfolio manager for the FPA Queens Road Small Cap Value Fund. The fund is approaching $1 billion in assets and has a five-star rating from Morningstar.
While Wake Forest alums are excited to see the Wake Forest University School of Medicine opening at The Pearl, it's not the first time the University has brought its high-quality educational programs to Charlotte.
Benton Bragg, CFA, and president of Bragg Financial, was a member of the inaugural MBA class in Charlotte 30 years ago.
'Wake Forest was ahead of its time when it launched a Charlotte MBA program in 1995,' John Bragg said. 'I have no doubt that the medical school in Charlotte will also be a strong leader in shaping the future of health care in our region. It will be very much a part of the community with its connection to the hospital at the edge of Dilworth and Uptown.'
The Bragg family's ties to Wake Forest run deep. Frank Bragg and Kathy Broach met in the choir on the campus in Winston-Salem in 1959. Fourteen family members over three generations have earned a combined 17 degrees from the University, including two MBAs and one law degree.
'Wake Forest is very much a place my family loves and holds dear,' John Bragg said. 'Three of my four children plus a niece and nephew have graduated from Wake Forest over the past few years with degrees in economics, Chinese, biology, philosophy and psychology. Wake Forest does a great job preparing young people to think for themselves and thrive in the world of work and beyond.'
The city from which these graduates came is appreciably different than some recall. 'Uptown Charlotte was a ghost town after 5 p.m. until about 1990,' said John Bragg, 59. 'Growing up in the 1970s and '80s, I remember Charlotte as a small Southern town with a bit of a chip on its shoulder as it competed with Richmond and Atlanta. But Charlotte boomed thanks to extraordinary people who built extraordinary banks.'
The banking boom heralded the growth of other essential services, including hospitals. In the early days of the firm, doctors, nurses and hospital administrators turned to Bragg Financial to grow their wealth.
'We are fortunate to live in a great and growing city with strong leaders that have vision and purpose,' John Bragg said. 'Charlotte has been a great place for us to live and grow our company. We look forward to seeing what the partnership with Wake Forest and The Pearl will mean for Charlotte and our larger community.
'My children and nieces and nephews have scattered and are currently living and working in Atlanta, Washington, New York, Denver and Los Angeles. I just moved my youngest child to Boston over the 4th of July and today is her first day of work. After they live in much bigger cities, I hope they will return to make the Queen City their home.'
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