Hutchinson Financial Sold to United Capital of California

Eric Hutchinson

United Capital Financial Advisers LLC of Newport Beach, California, announced on Monday that it had entered the Arkansas market by acquiring Hutchinson Financial Inc., the Little Rock financial advisory founded by Eric Hutchinson in 1988.

Terms of the deal were not disclosed, but Hutchinson is now a managing director of United Capital and his employees are now employees of United Capital.

Hutchinson manages approximately $171 million in assets belonging to some 255 households, according to the United Capital announcement. It has offices in west Little Rock and in Texarkana, Texas.

“The investment advisory industry has become increasingly more complex each year. My team and I have worked hard to keep the quality of our services at a very high level, all the while continuously looking for ways to improve what we offer and how we work with people,” Hutchinson said in a news release. “What we found in United Capital was a firm that shares our philosophies and principles — it’s almost like we’re kindred spirits.”

United Capital has more than $15 billion in assets under management and operates 74 offices around the country. It was founded in 2005.