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Tuesday, November 10, 2009

OOK Receives a Makeover

Reported by Patricia Kelly

Oklahoma-city based OOK Advisors has rechristened itself and is preparing to move its headquarters. In an interview with the MFWire, CEO Keith Geary confirmed that the investment advisor was rebranded Geary Advisors and unveiled plans to move its headquarters to Austin, Texas by early January.

The shift away from the firm's Oklahoma City roots comes as the firm continues to branch out into neighboring Texas. Geary Advisors followed up the summer launch of its Oklahoma Exchange-Traded Fund with the rollout this week of the Texas Large Companies Exchange-Traded Fund. It plans to add a midcap Texas ETF in January and a small-cap Texas ETF in April.

Originally, Geary had only anticipated launching the Oklahoma ETF –- hence the original name of the advisory and the fund –- but Texas' status as the second largest GDP in the nation with over 400 publicly-traded companies and a historically business-friendly environment, held great appeal.

“I expect the assets to be a lot larger in the ETFs [in Texas]” Geary explained . Also, Texas is familiar territory for Geary, as it is home to the offices of Capital West Securities, the brokerage arm of the Geary Companies, which he co-owns with his wife.

Still, the firm won't be traveling too far from home, as Geary plans to continue to keep the Oklahoma City office open and will continue to run Capital West Securities from Oklahoma's capital. Geary Advisors currently has four offices in total.

Asked whether other state-based ETFs are in the works, Geary revealed that “we don't expect to do other state-based ETFs at this point because other states can't match the type of returns.”

“There's no gimmick,” Geary emphasized, “We're trying to be very cost-conscious in creating our funds.”

However, future expansion to other cities in Texas may be in the cards for the firm, should the Lone Star State prove fruitful. In that event, Geary Advisors anticipates adding up to five new people to focus on retirement plans. 

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