Greenwood Gearhart Inc. of Fayetteville announced the death of Mary Ann Greenwood, who founded the wealth management firm as Greenwood & Associates in 1982.
Greenwood was 82. A memorial service will be held at 2 p.m. on Sept. 26 at St. Paul’s Episcopal Church in Fayetteville.
The company called Greenwood a “true pillar of the community.” Greenwood Gearhart is now run by CEO Brock Gearhart and manages $800 million in assets for clients in 33 states.
“Mary Ann was a real pioneer for our industry,” said Lisa A. Brown, the president of Greenwood Gearhart, told Arkansas Business in March. “She also instilled in our core values a philanthropic mindset we carry forward today. Mary Ann also set a culture of what we call ‘fanatical attention to detail.’ ”
Greenwood earned three degrees from the University of Arkansas in Fayetteville, including a Ph.D. in economics and finance. Her husband, Reed, retired as dean of the UA College of Education and Health Professions after a 35-year career.
Charles Robinson, the university's interim chancellor, recalled her as a "delightful supporter, champion and advocate" of the school. She served as an adviser on numerous boards and committees.
"Her volunteer leadership spanned not only many years, but supported many functions, projects and activities, always with an eye toward supporting students," Robinson said in a news release. "Even as recently as during the COVID-19 pandemic, Mary Ann and her partner and spouse, Reed, were thoughtful to establish an emergency support fund for students who were affected.
"That’s emblematic of Mary Ann’s leadership, priorities and passion for the University of Arkansas. She will be greatly missed."
U.S. Rep. Steve Womack said Greenwood leaves a legacy of service and philanthropic work that enriched northwest Arkansas.
"Mary Ann defined what it means to be a trailblazing and community-focused leader," he said in a statement. "She commanded any room with respect and poise, building a successful firm of the highest standard.
"Her business acumen only came second to her love for Arkansas."