Skip to Content - Skip to Navigation

Patrick WallacePresident and Lead Financial Advisor 

Covington Investment Advisors, Inc.


Mr. Wallace is president and lead financial advisor of Covington Investment Advisors. Mr. Wallace began his career in a trust banking environment starting as a trust management trainee and working his way up to vice president and senior portfolio manager. He received his B.S. degree in Business Management from Indiana University of Pennsylvania in 1985. He is a 1989 graduate of the PBA Central Atlantic School of Trust at Bucknell University, a 1990 graduate of the ABA National Trust School at Northwestern University, and a 1992 graduate of the ABA National Graduate Trust School at Northwestern University. In addition to his responsibilities as president of Covington, Mr. Wallace serves on numerous community and foundation boards of directors.

Mr. Wallace founded Covington Investment Advisors Inc. in 2003 to provide comprehensive wealth management services as an independent registered investment advisor. Covington’s mission is to provide personalized and comprehensive wealth management services to high net worth individuals based on their financial goals, resources and risk tolerances. These services are provided in an integrated and seamless manner which nurtures trusted, long-term relationships.

Covington has a well-developed, underlying investment philosophy which has been formed throughout Wallace’s extensive wealth management experience and continuing education. His philosophy is to invest for the long term in proven enterprises of high quality securities with an income and growth emphasis. Paramount to the investment management processes is the coordination of the many financial and estate planning generational matters with his clients’ other professional advisors. Wallace and his team are truly trusted advisors to the families they serve.

The Wallace family has instilled in Patrick a strong sense of commitment to his community and a concern for his fellow man. As an eighth-generation Western Pennsylvanian, Wallace is descended from sturdy pioneers who settled in the beautiful Ligonier Valley. Wallace was given a good example of faith, hard work, entrepreneurship, community service, love of liberty, and patriotic devotion. Patrick has served many worthy organizations, including the Allegheny Institute for Public Policy, Boys Scouts, the Foundation for the Indiana University of Pennsylvania, Ligonier Valley YMCA, Ligonier Valley Railroad Association, Loyalhanna Watershed Association of Ligonier, Pike Run Country Club, and the Rolling Rock Hunt.

Patrick resides in Ligonier, Pennsylvania, with his wife, Kim, and his three daughters, Natalie, Ruby, and Clara. He is an accomplished horseman, golfer, and skier. 

Inducted Spring 2012

  • Eberly College of Business and Information Technology
  • 401 Eberly
    664 Pratt Drive
    Indiana, PA 15705
  • Phone: 724-357-7889
  • Fax: 724-357-4785
  • Office Hours
  • Monday through Friday
  • 8:00 a.m.–12:00 p.m.
  • 1:00 p.m.–4:30 p.m.