US-based GCC Family Wealth Management, shrugging off concerns about tough financial markets, wants to expand its business and is recruiting family wealth advisors to fill positions in Washington, Nashville, Los Angeles, San Diego and Houston.

“GCC has no set number of recruits in mind for each office and is planning to take on as many high quality advisors as possible,” a spokesperson told WealthBriefing.

GCC believes that crisis breeds opportunity for wealth advisors and clients alike. “High net worth individuals and families are re-evaluating their advisors. Advisors are re-evaluating the firms they work for,” the spokesperson said.  

The company is a multi-family office serving high net worth individuals, families and foundations. GCC has quite a motivational pay structure, offering consistent, formulaic payout to its advisors, based on total assets under management.

This contrasts with traditional payouts from private banks and third party money managers, which typically have a higher payout for the first year and then a much smaller payout later on, the firm said in a statement.

“We believe that both clients and advisors prefer a fiduciary advice model, and a payout that aligns their interests,” the spokesperson said.

GCC’s fiduciary advisors are also free from having to balance the client’s objectives with a firm’s more profitable proprietary products. GCC Family Wealth Management is an open architecture advisory firm where there are no proprietary products to sell.

GCC advisors provide a collaboration of expertise from different wealth management disciplines including investment management, private banking, estate planning, insurance advisory and risk management.

The company is headquartered in McLean, Virginia. It also has offices in Los Angeles and Nashville, as well as satellite bases in San Diego and Houston.