For several years, Alan B. Tingey gave his wife excuses on why he shouldn't go into business for himself as an investment consultant.

He finally ran out of excuses and in January formed Cannon Tingey Investment Advisors Inc. with Clinton C. Cannon, who already had gotten his feet wet at being in business with a partner.Cannon bought out his partner, James Rowe, and because he had a long-standing friendship with Tingey when they both worked for Tracy Collins Bank & Trust, the partnership was a natural.

When Cannon and Rowe were together, their company grew in 18 months to $30 million in investments; since Cannon and Tingey started their new business at 948 E. 7145 South, they are managing $40 million in investments.

Using their experience working for others, Tingey and Cannon's promotional brochure said their company "offers wealth creation and investment management services for individuals and institutions, including IRAs, corporate pension and profit-sharing plans, public funds, foundations, endowments, Taft-Hartley funds and corporate taxable funds."

Their philosophy is to invest in companies that are undervalued relative to their inherent worth and their ability to generate superior earnings growth rates over an extended period. They invest in mid- to large-market capitalization companies with $500 million market capital or greater and they base their investment decisions on financial strength, growth in sales and earnings, expanding profit margins and strong management.

For individuals, the minimum investment amount Cannon and Tingey will handle is $250,000.

Because they have a close relationship with their clients, Cannon and Tingey feel they are filling a niche that mutual funds cannot. They both believe there is a niche for a company that can bring client investments to a higher level and provide close contact with the client.

Cannon and Tingey said they are in a business dominated by confidence because they must build confidence between themselves and their clients since it isn't their money that is being invested. Tingey said he is pleased with the progress of the company and they have established a base upon which the company should grow, something that will require hiring employees in the future.

A Salt Lake native, Tingey has bachelor's and master's degrees from the University of Utah. It was while he was working at Hallmark Cards in Kansas City, Mo., that he became interested in financial investments. After five years he moved to Salt Lake City and became chief investment officer for Tracy Collins.

For 11 years he was part-owner at Smoot Miller Cheney & Co., until he joined Cannon in the new firm.

Cannon also is a Salt Lake native who has a bachelor's degree from the U. of U. and a master's degree in public administration from Brigham Young University. He started a Ph.D. program at Penn State University but received a call from Tracy Collins as an investment officer and started in 1985.

He loved his investment activities and after eight months went with First Security Investment Management, a subsidiary of First Security Corp. He was senior vice president, director of research and a member of the board of directors when he and Rowe formed Cannon and Rowe Asset Management in February 1996.

Working in an office in Sugar House, Rowe did the marketing for the company and Cannon did the investing. Cannon and Tingey had kept in touch from the Tracy Collins days and decided it was time to put into motion what they had talked about on numerous occasions.

Over the years of making investments, Cannon and Tingey have developed a discipline in knowing what stocks, government bonds, municipal bonds, corporate bonds and other fixed-income instruments to purchase for their clients. Both admit they get a little scared knowing they are in business for themselves, but they say "we have a fire in our belly" and aren't looking back.