Father-Son Team Leaves UBS to Start Independent Practice with TruClarity
Based in Little Rock, Gutierrez Wealth Advisory principals oversaw nearly $1 billion at the wirehouse.
Article published on WealthMangement.com November 8, 2022 by Ali Hibbs.
A father-son team overseeing nearly a billion in assets at UBS has jumped ship to establish an independent practice with help from TruClarity Management Solutions, a consulting firm and service provider for breakaway advisors establishing independent wealth management practices.
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 previously spent a combined five decades working at UBS, where they managed $330 million in client assets and advised on $625 million in retirement plan assets. On Monday, it remained undisclosed how many of those assets will transfer.
According to the announcement, Gutierrez intends to expand the family practice’s service model with custom solutions developed with the support of TruClarity, which helped with transition planning and developing operations infrastructure. The turnkey platform will continue to provide practice management support for the team.
“We’re so grateful to our friends and partners at TruClarity for helping us make our vision a reality,” said the younger Gutierrez, David. “We’re positioned to expand our wealth management services to families and individuals across Arkansas, providing fiduciary guidance and custom solutions with a human touch.”
Also joining the team are Leighann Arthur, director of client relations, and client relations associate Hillary Canterbury.
Founded in 2015, Tampa-based TruClarity has helped more than a dozen practices successfully break away from the wirehouse sector, said CEO Pamela Stross, utilizing a four-step process that involves branding, structuring, launch and growth. The platform helps to find real estate, select and integrate technology, and connect the nascent firm with the custodian of their choice. The platform also offers ongoing administrative support on a turnkey basis.