How Gerald L. Ray & Associates, LTD Came to Be Wealthstreet Investment Advisors, LLC
HISTORY
For forty years, Gerald L. Ray & Associates, Ltd. (GLR) built a reputation on the principles of providing personalized investment portfolios combined with the highest levels of integrity and customer service. This vision is unchanged from when Gerald Ray and Charles Gideon decided to accept new clients after years of service to Zale Corporation.
Gerald Ray’s experience in the U.S. Air Force and an education including a BBA from Texas A&M and an MBA from Wharton School of Business, instilled leadership skills and a passion for financial markets required to launch his own investment advisory firm. Once out of school, he came back to Dallas and started working at a regional securities firm doing research. Within a few years, Gerald Ray found himself managing the profit sharing plan for Zale Corporation on behalf of the employees. There he refined his stock picking talents. Donald Zale, Zale’s former CEO, a fellow A&M Aggie and life-long friend of Gerald Ray remarked, “Gerald took over the investment activities of our plan and performed at the highest level, so when he went out on his own, we were delighted to be his first client.”
That was just the beginning, a short nine years later the Dallas based firm moved into one of the most iconic buildings in the skyline, and to this day still enjoys the views of downtown and the staff of Fountain Place.
JOINING THE BAND
As Gerald L. Ray & Associates, Ltd. grew, new members of the team joined who now represent the current company line-up for the investment team. Gerald Ray’s son, Joseph Ray joined GLR in 1989 after practicing corporate and securities law for a legal firm in Dallas. Joseph Ray became the President of GLR in 2004 and continues in this role today. He continues to enjoy the daily interaction with his father, best friend and mentor, Gerald Ray.
Michael Beck came to Gerald L. Ray & Associates, Ltd. in 1999. Michael worked in investment banking and had many roles in corporate finance prior to beginning his portfolio management career. He brought financial service skills in communications, healthcare, and retail to his investment strategy. Michael also launched the 401(k) Solution service in 2010 for small businesses, one of the first all Exchange Traded Fund (ETF) plans offered in Texas.
Looking for opportunities to expand, Gerald L. Ray & Associates, Ltd. acquired the assets of Weisberg & Fields, Inc. (W&F) in 2009. The combination was a perfect fit as W&F was a Dallas based RIA firm that managed money for individuals and small institutions, that shared many of the same investment perspectives, clientele, and target markets as GLR. The acquisition brought in two additional Portfolio Managers; Michael Kane and Leo Fields. Leo Fields later retired in 2010.
Michael Kane, CFA gained his experience in investments by being a market maker for the Chicago Board Options Exchange and later working for Weisberg & Fields before joining GLR. After becoming chartered he had an active role in the CFA Society of Dallas. He is also on the investment committee for the Foundation for Dallas Home for Jewish Aged and the Dallas Jewish Community Foundation.
Gerald Ray has become one of the most respected portfolio managers in the South. His strong ties to his alma mater of Texas A&M frequently brings him back to Aggieland where he is the co-sponsor of two programs; Aggies on Wall Street and the Kupfer Award. Gerald Ray has been recognized on a multitude of occasions for his continued support of young financial professionals and has spurred a movement across Universities to encourage “bringing the ethics of the heartland to Wall Street”. His on-going contributions to society and future business professionals create a legacy through which many will prosper. He brings the same attitude to his own organization. Gerald Ray was named one of the Dallas’s 500 Business leaders in 2016.
THE TRANSITION
It is with great dedication and excitement that all the individuals of Gerald L Ray & Associates, Ltd. embark on the transition to Wealthstreet Investment Advisors, LLC. Wealthstreet was born out of a desire to reward long-term employees with partnership interests. Taxes and other considerations required the establishment of a new entity, but will not result in any changes in personnel or fees to clients. Gerald Ray is still very involved with Wealthstreet and had this to say about the conversion, “We could not be more proud of the successes and relationships we have built; we look forward to many more years of client service excellence and working towards accomplishing your financial goals.”
GOING FORWARD
Wealthstreet Investment Advisors, LLC includes the following members: Gerald Ray, Joe Ray, Michael Beck, Michael Kane, Lynette Heil, and Leslie Reynoso. All clients will transfer to Wealthstreet Investment Advisors, LLC by year end and Gerald L. Ray & Associates, Ltd. will become a family office starting in 2018. This transition will not affect our investment strategy to design customized portfolios, nor will the management of your portfolios change. Unfortunately, the SEC requires new paperwork, so individuals from the firm will be reaching out to all clients if they have not already. We appreciate your patience during this time. As our clients, we thank you, especially those who have been kind enough to support us through this exciting change and to those of you who we’ve recently been given the opportunity to serve, we will continue to strive towards providing the highest level of service. The history of Gerald L. Ray & Associates, Ltd. began over 40 years ago through the simple belief that as stewards of our client’s capital, we can provide solid returns with the highest levels of customer service and integrity. Wealthstreet will continue to hold strong to these core beliefs as we reward those employees who helped our clients over the years meet their financial goals.
