A father-son team overseeing nearly $1 billion in assets at UBS jumped ship to establish an independent practice with the help of TruClarity Management Solutions, an advisory firm and service provider for independent advisers building independent practices. independent wealth management.
Based in Little Rock, Ark., Gutierrez Wealth Advisory specializes in serving high net worth clients and retirement plan providers. Co-founders Roy and David Gutierrez spent a combined five decades working at UBS, where they managed $330 million in client assets and advised $625 million in pension plan assets. On Monday, it was not revealed how many of those assets will be transferred.
According to the announcement, Gutierrez intends to expand Family Practice’s service model with custom solutions developed with support from TruClarity, which helped with transition planning and operations infrastructure development. . The turnkey platform will continue to provide practice management support for the team in the future.
“We are so grateful to our friends and partners at TruClarity for helping us make our vision a reality,” Gutierrez youngster David said. “We are well positioned to expand our wealth management services to Arkansas families and individuals, providing trust advice and personalized solutions with a human touch.”
Also joining the team are Leighann Arthur, Client Relations Manager, and Hillary Canterbury, Client Relations Associate.
Founded in 2015, Tampa-based TruClarity has helped more than a dozen firms successfully branch out of the cabling installation business, CEO Pamela Stross said, using a four-step process that involves image branding, structuring, launch and growth. The platform makes it possible to find a property, to select and integrate technology, and to connect the fledgling company with the agent of its choice. The platform also offers turnkey ongoing administrative support.
“A lot of [breakaway advisors] haven’t really thought about the fact that they now have the ability to brand themselves,” she said. “What is their message? What do they mean? And it’s quite an intensive process to get them to their launch day, where they have their new website, new branding, and everything ready to go.
TruClarity Management Solutions is also in talks with several established companies just looking to leverage its turnkey back-office support services.
“Interestingly, we have a lot of family teams,” she said, referring to Gutierrez and One Seven, TruClarity’s second launch. A $600 Million AUM Team by Merrill Lynch in 2016, one seven had exceeded $2.5 billion in client assets this autumn.
“We’re really designed for people who want to own their own business and start their own business,” she said. “But I think the most important thing is that whatever your size, we help put something in place that really resonates with the advisor and how they want to serve their clients in the future.”
In 2019, the LLC created a separate SEC-registered business platform, TruClarity Wealth Advisors, to provide an integrated model for independent advisors seeking to avoid more overhead and obligations associated with operating of a fully independent RIA practice.