Tierra Financial Advisors, LLC ("Tierra"), is a municipal advisory firm created to advise and assist clients in the structuring and sale of municipal debt. Tierra is registered as an independent municipal advisor with the Securities and Exchange Commission (“SEC”) and the Municipal Securities Rulemaking Board (“MSRB”). Tierra is a wholly-owned subsidiary of D.R. Horton, Inc.
Our mission is to provide clients thoughtful advice regarding all facets of their capital structuring and capital planning process.
We assist clients with their capital planning process by:
Evan has 18 years of municipal finance experience and currently manages Tierra’s municipal advisory business and strategy. He is the firm’s Principal and leads the firm’s quantitative development, structuring and solution delivery for clients. He also directs the supervisory procedures and legal, compliance and regulatory requirements for the organization.
Prior to joining Tierra in August 2019, Evan worked for RBC Capital Markets, where he served a large portfolio of clients as either a municipal advisor or senior managing underwriter. In both roles his clients included cities, counties, state-level agencies, regional water authorities, transportation systems, development districts, tribal governments, and school districts.
In total, Evan has over 20 years of diverse finance experience, including investment banking, debt structuring and origination, equity derivatives trading and risk management. He spent 10 years working for Merrill Lynch (now BofA Securities) in their New York and Chicago offices covering municipal issuers throughout the country. Evan was involved in many sophisticated financings and advisory assignments for clients and covered many sectors, including power and energy, transportation, water, infrastructure, hospital systems, and special situation borrowers. He worked on 50+ senior managed public finance transactions totaling $8 billion.
Evan Kist graduated Phi Beta Kappa with a degree in Economics and minor in Finance from the University of New Mexico and is also a Chartered Financial Analyst (“CFA”) charter holder. He is a SEC registered municipal advisor holding the Series 50 and 54 licenses.
Chris has over 13 years of public finance experience and has served in a wide variety of roles structuring, executing and managing municipal bond transactions. Prior to joining Tierra, Chris worked for BofA Securities where he sourced negotiated bond transactions for special districts, water and sewer authorities, cities, counties, school districts, and special projects. Chris' experience includes detailed cash flow modeling, client presentation, and transaction execution. Focused primarily in Texas and other southwest states, Chris has been involved in over $20 billion of transactions for a range of issuers with different financing objectives and execution strategies.
Chris graduated cum laude from Washington and Lee University with a Bachelor of Science in Business Administration. He is a SEC registered municipal advisor holding the Series 50 license.
Kait joined Tierra in July of 2019 and has extensive experience in tracking the engineering projects within Municipal Utility Districts (“MUD’s”), including monitoring the reimbursable and non-reimbursable amounts of each.
Kait previously worked for LJA Engineering in Houston, Texas where she was an Assistant Project Manager. While there, she coordinated with project managers, financial advisors, and attorneys to prepare and submit MUD bond issue application packages to the Texas Commission on Environmental Quality (“TCEQ”).
In addition to preparing TCEQ bond issue applications, Kait also worked with multiple project managers to create cost/feasibility estimates for numerous projects and to aid in the preparation and submittal of plan sets to various entities.
Kait is a licensed professional engineer in the state of Texas. She holds a Bachelor of Science in Civil Engineering from Cornell University.
Kait is not a registered municipal advisor and does not perform any municipal advisory services.
Korie joined Tierra in July of 2022 as Project Administrator. She has 16 years of homebuilding experience working primarily in land acquisitions and development. Korie previously worked for D.R. Horton in the Houston-South Division as a Land Acquisition Project Manager where she facilitated contract preparation, market analysis, HOA management and all other aspects of project entitlements. Korie assisted with the creation of more than 20 MUDs during her tenure at D.R. Horton.
Korie will track the MUD reimbursements for Tierra’s clients and assist in preparing MUD bond applications for the TCEQ.
Korie is not a registered municipal advisor and does not perform any municipal advisory services.
Disclosure of Conflicts of Interest and Legal or Disciplinary Events: Pursuant to Municipal Securities Rulemaking Board (“MSRB”) Rule G-42, on Duties of Non-Solicitor Municipal Advisors, Municipal Advisors are required to make certain written disclosures to clients which include, amongst other things, Conflicts of Interest and any Legal or Disciplinary events of Tierra Financial Advisors and its associated persons.
Tierra Financial Advisors represents that in connection with the issuance of municipal securities, Tierra Financial Advisors may receive compensation from an Issuer or Obligated Person for services rendered, which compensation is contingent upon the successful closing of a transaction and/or is based on the size of a transaction. Consistent with the requirements of MSRB Rule G-42, Tierra Financial Advisors hereby discloses that such contingent and/or transactional compensation may present a potential conflict of interest regarding Tierra Financial Advisors ability to provide unbiased advice to enter into such transaction. This conflict of interest will not impair Tierra Financial Advisors ability to render unbiased and competent advice or to fulfill its fiduciary duty to the Issuer.
If Tierra Financial Advisors becomes aware of any additional potential or actual conflict of interest after this disclosure, Tierra Financial Advisors will disclose the detailed information in writing to the Issuer in a timely manner.
Other Municipal Advisor Relationships: Tierra Financial Advisors may serve a variety of other clients that may from time to time have interests that could have a direct or indirect impact on the interests of another Tierra Financial Advisors client. For example, Tierra Financial Advisors serves as municipal advisor to other municipal advisory clients and, in such cases, depending on the client, owes either a fiduciary duty or a duty of care to such other clients just as it does to any of its future clients. These other clients may, from time to time and depending on the specific circumstances, have competing interests. In acting in the interests of its various clients, Tierra Financial Advisors could potentially face a conflict of interest arising from these competing client interests. Tierra Financial Advisors fulfills its regulatory duty and mitigates such conflicts through dealing honestly and with the utmost good faith with all of its clients.
Ownership and Unrelated Business Activities of Parent Corporation: Tierra Financial Advisors is a wholly owned subsidiary of D.R. Horton, Inc. D.R. Horton, Inc. is a publicly traded corporation whose stock is listed on the New York Stock Exchange.
From time to time, D.R. Horton, Inc., may engage broker-dealers, commercial banks, and/or other financial institutions while conducting regular business operations. D.R. Horton, Inc. is a national homebuilder that is primarily engaged in the acquisition and development of land and the construction and sale of residential homes. D.R. Horton, Inc. is not registered as a municipal advisor, and therefore does not engage in municipal advisory services.
Tierra Financial Advisors, as is common with most municipal advisors, will assist D.R. Horton, Inc and other developer clients in the evaluation of land purchases and the development of such land through the use of municipal utility districts or other special entities that a developer may decide to utilize. Tierra Financial Advisors is not paid for participating in these due diligence services, and these services are not municipal advisor services. As a result of the due diligence efforts that Tierra Financial Advisors participates in prior to the activity becoming municipal advisory services, Tierra Financial Advisors may therefore be hired as the municipal advisor.
Tierra Financial Advisors understands and will fulfill its fiduciary duty to the municipal entity. Also, Tierra Financial Advisors mitigates such conflicts through dealing honestly and with the utmost good faith with its clients.
Any financing engagement, whether potential or actual, by Tierra Financial Advisors/D.R. Horton, Inc. should not be construed as having any direct or indirect influence on the operations, decision-making process or advice provided by D.R. Horton, Inc./Tierra Financial Advisors to its clients.
Legal or Disciplinary Events Tierra Financial Advisors does not have any legal events or disciplinary history on Tierra Financial Advisors Form MA and Form MA-I, which includes information about any criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations, and civil litigation. The Issuer may electronically access Tierra Financial Advisor’s most recent Form MA and each most recent Form MA-I filed with the Commission at the following website: http://www.sec.gov/edgar/searchedgar/companysearch.html
There have been no material changes to a legal or disciplinary event disclosure on any Form MA or Form MA-I filed with the SEC. If any material legal or regulatory action is brought against Tierra Financial Advisors, Tierra Financial Advisors will provide complete disclosure to the Issuer in detail allowing the Issuer to evaluate Tierra Financial Advisors, its management and personnel.
Tierra Financial Advisors, L.L.C. (referred to herein as "Tierra," "we," "us" or "our") provides these Terms of Use. These Terms of Use describe the use of this website (this "Website") and in connection with email messages we may send to you. As used herein, the words "user," "you," and "your" mean individuals who interact with Tierra.
By accessing or using our Website, you agree to the provisions of these Terms of Use.
OWNERSHIP AND USE OF CONTENT.
The Website and their contents are owned by Tierra or used under license from others with all rights reserved. The reproduction, re-creation, retransmission or other use of any of the material on the Website, whether text, visual image, audio, video, or computer software, or the posting or framing on other websites without the express prior written permission of Tierra is expressly prohibited; provided, however, you may print in hard copy portions of the Website for your personal purposes.
LINKS TO OTHER WEBSITES.
We may provide links from our Website to third-party websites or applications. Those websites and applications have their own privacy policies and practices. These Terms of Use do not address, and we are not responsible for, their content, privacy policies or practices or security and safeguarding practices. The inclusion of a link on our Website does not imply endorsement of the linked website or application.
LIMITATION OF LIABILITY AND DISCLAIMER.
Tierra endeavors to keep the information on the Website current and up to date. However, some of the information on the Website may be inaccurate or incomplete, or may contain typographical errors. Tierra does not warrant the content of the Website is error free or its service in providing the Website will be uninterrupted. Your use of the Website is at your own risk. You agree Tierra is not liable for any damages relating to the use of, or reliance upon, the content of the Website, including without limitation damage to your computer equipment or other property from downloading material from the Website.
TO THE FULLEST EXTENT ALLOWED BY APPLICABLE LAW, YOU HEREBY WAIVE, DISCLAIM AND RELEASE TIERRA FINANCIAL ADVISORS, L.L.C., ITS SUBSIDIARIES AND AFFILIATES, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, SUCCESSORS, AND ASSIGNS, FROM ALL CLAIMS OF ANY KIND INCLUDING ANY AND ALL CLAIMS FOR ACTUAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES, ATTORNEYS' FEES AND COSTS, OR CLAIMS FOR INTEREST, AND WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY), RELATED DIRECTLY OR INDIRECTLY TO, OR ARISING FROM, YOUR ACCESS TO THE WEBSITE OR YOUR USE OF ANY INFORMATION OR MATERIAL CONTAINED HEREIN. WITHOUT LIMITING THE FOREGOING, EVERYTHING ON THE WEBSITE IS PROVIDED TO YOU "AS IS" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
THESE DISCLAIMERS AND LIMITATIONS MAY NOT AFFECT YOUR CONSUMER RIGHTS OR LIMIT LIABILITY TO THE EXTENT THAT THEY CANNOT BE LIMITED BY LAW.
LAW AND JURISDICTION.
These Terms of Use shall be governed by, construed and enforced in accordance with, and subject to, the laws of the State of Texas, without resort to its choice of law provisions and case law, except to the extent they are superseded or preempted by the laws of the United States. If any provision of these Terms of Use is determined to be invalid, unlawful, void or otherwise not enforceable, you agree the remaining provisions of these Terms of Use will remain in full force and effect. By accessing our Website, or using information on our Website, you submit to the exclusive jurisdiction of the state courts in Tarrant County, Texas, or the United States Federal District Court, Northern District of Texas, to resolve disputes of any kind arising out of your reliance on the information on the Website, or any interaction with Tierra involving the Website. Any claim you have with respect to the Website must be brought within two years and one day after the claim arises.
IF THERE IS A CONFLICT BETWEEN THE LAW IN YOUR USUAL PLACE OF RESIDENCE AND THESE TERMS OF USE, YOUR RIGHTS UNDER APPLICABLE LOCAL LAW MAY PREVAIL.
SUCCESSORS AND TERMINATION.
These Terms of Use shall be binding upon and inure to the benefit of Tierra and you and its and your respective heirs, representatives, successors and assigns. These Terms of Use shall remain in force and effect until terminated by Tierra. In the event of termination of these Terms of Use, restrictions imposed upon you by these Terms of Use, including all disclaimers, waivers, releases and limitations of liability, shall survive.
VOID WHERE PROHIBITED.
The Website is accessible by users throughout the world. Tierra services and offers may not be available in your state or community. The information on the Website is not an offer of services where Tierra is not doing business or where prohibited by law.
CHANGES TO TERMS OF USE AND WAIVER.
Tierra reserves the right to change these Terms of Use from time to time and as required by applicable law. Any non-material changes will take effect immediately upon posting of an updated Terms of Use. There may, however, be cases where changes to the Terms of Use may be more significant. In such cases, we will provide prominent notice of such changes before they take effect. We encourage you to retain a copy of these Terms of Use and periodically to check this Website for updates. Your use of our Website indicates your acceptance of the latest version of these Terms of Use.
No waiver of any provision in these Terms of Use shall be effective unless made in writing and signed by Tierra and shall not prevent any subsequent enforcement of these Terms of Use.
PRIVACY POLICY.
To view our Privacy Policy, please go to our Privacy Policy.
CONTACTING US.
If you have any questions about our Terms of Use, you may contact us at: Tierra Financial Advisors, L.L.C, 1341 Horton Circle, Arlington, TX 76011.
EFFECTIVE DATE.
These Terms of Use were effective as of the date of the last update as set forth at the top of these Terms of Use.
Tierra Financial Advisors, L.L.C. (referred to herein as "Tierra," "we," "us" or "our") provides this Privacy Policy. This Privacy Policy describes the collection, use and disclosure of information on this website (this "Website") and in connection with email messages that we may send to you and other interactions with you. As used herein, the words "user," "you," and "your" mean individuals who interact with Tierra.
Where applicable, you agree to the use of your information as described in this Privacy Policy each time we collect information from you, including in person and when you access or use our Website, so we urge you to read this document in full, and contact us if you have any questions.
CATEGORIES OF PERSONAL INFORMATION WE COLLECT.
When you interact with Tierra, we collect information from that interaction, for example, from your use of our Website, from your email correspondence to us, and from your online submissions to us. When this information is reasonably capable of being associated with you, we refer to this information as “Personal Information.”
At Tierra we may collect and share the following categories of Personal Information:
Identifiers. Identifiers are information directly linked to a particular individual. For example, depending on the circumstance, Tierra may collect your name, address, email address, or phone number as part of your interaction with us.
We collect this information from you, from publicly available sources, and from third parties, and we share it with our third-party service providers, our affiliates or other third parties, to complete transactions, you have requested and maintain a record of those transactions, for employment purposes, to comply with certain legal obligations or to provide you with information about our services. Depending on the nature of your interaction with Tierra, we also may be required by law to collect this information. If you engage in a commercial transaction with us, we may also collect financial information and other information necessary to complete your transaction.
Client Records. Certain Identifiers may also be included in our client records. These are records of our business transactions and interactions with you, and often include your name, address, or other information collected during, and for the purpose of effectuating, those business transactions. We collect this information from you, or from third parties. Our use of this information is identical to the way we handle "Identifiers," as described above.
Commercial Information. Depending on the nature of our interaction with you, we may collect certain commercial information related to you, including property records. We collect this information as a result of our transactions with you, either from you directly or from third parties. We may also collect certain commercial information from publicly available sources in order to facilitate our transactions.
We use this information to complete transactions you have requested and maintain a record of those transactions.
HOW WE USE INFORMATION.
Generally speaking, we use Personal Information to provide, improve, and develop our services, to communicate with you, and as required by applicable law.
While we will use the information we collect for any lawful purpose we deem appropriate, more specifically, we use the information we collect for the following purposes:
Communicating with you. We may use Personal Information respond to and fulfill your requests, complete the transactions you have requested, and provide you with information and updates regarding our ongoing relationship. In this regard, we may contact you by email, postal mail, phone or text message, including via autodialer, social media, or other means regarding our services.
Providing, improving, and developing our products and services. We use Personal Information to help us provide, improve, and develop our products and services. This includes using Personal Information for purposes such as data analysis and research.
As required by law. We use Personal Information as required by law, such as by publicly filing documents, and to comply with any applicable law, regulation, legal process, or governmental request. Tierra will utilize all information that you share with us or that we collect in accordance with this Privacy Policy and applicable law.
HOW LONG WE KEEP YOUR PERSONAL INFORMATION.
As required by law, we will process your Personal Information for the above mentioned purposes, and will not further process the data in a way that is incompatible with these purposes. We will keep your Personal Information for as long as it is necessary for us to comply with our legal obligations, to ensure that we provide appropriate services, and to support our business activities.
HOW AND WITH WHOM WE SHARE INFORMATION WE COLLECT.
We do not share your Personal Information with any third parties except in accordance with this Privacy Policy. In this regard, to the extent permitted by applicable law, Tierra discloses information including your Personal Information, without notice to you, to the following categories of third parties:
Third-Party Service Providers. If you are a Tierra client or prospective client, we may share your information, which may include Personal Information, with our service providers in connection with our services to you. We may share your information with our third-party service providers that perform services on our behalf. Our Third-Party Service Providers also collect Personal Information directly from you and process your Personal Information on our behalf. When Third-Party Service Providers collect and process Personal Information on our behalf, they do so subject to their privacy policies and their contractual obligations to us. Sharing of Personal Information with Third-Party Service Providers, and their direct collection of Personal Information, is described in more detail below.
Legal Matters. It may be necessary - by law or legal process, litigation, or requests from public or governmental authorities - for us to disclose Personal Information, such as by filing Personal Information in public documents. We may also disclose Personal Information if we determine for purposes of national security, law enforcement, or other issues of public importance, disclosure is necessary or appropriate. We may also disclose Personal Information if we determine in good faith disclosure is reasonably necessary to protect our rights and pursue available remedies, enforce our terms and conditions, investigate fraud, or protect our operations or users.
USE OF COOKIES AND IP ADDRESSES.
“Cookies” are small pieces of text used to store information on web browsers. Cookies are widely used across the Internet, including by Us, to store and receive identifiers and other information on computers, phones, and other devices. Our Website uses Cookies to provide and improve our services, such as by collecting information about how you use our Website. To see the specific Cookies our Website uses, opt-out of those you no longer wish to receive, or opt back in if you have previously opted out, please visit our Cookie Consent Tool, or visit your browser or device's help material. If you disable certain Cookies, you may not be able to use certain feature of our Website, and it may reduce the support or information that we can provide you.
This Cookies section does not apply to the Cookies, applications, technologies, or websites that are owned and/or operated by third parties, or such third parties' practices, even if they use or access our technology to store or collect information. To understand how third parties use Cookies, please review their privacy and cookie policies.
To learn more about Cookies, visit http://www.allaboutcookies.org.
Your IP Address is automatically logged to our server logs whenever you visit our Website, together with the date and time of your visit and the pages on our Website that you visit. Your IP Address is a unique numerical identifier that is assigned to your device by your ISP. Collecting IP Addresses is standard practice for website operators across the Internet. We use IP Addresses to assist us in enhancing and correcting the performance of our Website. We use and disclose IP Addresses in accordance with applicable law.
CHANGES TO OUR PRIVACY POLICY.
Tierra reserves the right to change this Privacy Policy, from time to time and as required by applicable law. Any non-material changes will take effect immediately upon posting of an updated Privacy Policy. There may, however, be cases where changes to the Privacy Policy may be more significant. In such cases, we will provide prominent notice of such changes before they take effect. We encourage you to retain a copy of this Privacy Policy and periodically check this website for updates.
Your use of our Website after the changes have become effective indicates your acceptance of the latest version of this Privacy Policy.
LINKS TO OTHER WEBSITES.
We may provide links from our Website to third-party websites or applications. Those websites and applications have their own privacy policies and practices. This Privacy Policy does not address, and we are not responsible for, their content, privacy policies or practices or security and safeguarding practices. Any Personal Information that you provide on these other websites will be subject to the privacy policies and practices of the third party. The inclusion of a link on our Website does not imply endorsement of the linked website or application.
CHILDREN.
Our Website contains general information not directed towards children. We do not knowingly collect information from children under the age of 13, or the equivalent minimum age depending on the jurisdiction. In this regard, our Website is a general audience site that is not designed nor intended to collect Personal Information from children under the age of 13.
SECURITY.
Tierra has implemented safeguards as required by law to protect your Personal Information. Unfortunately, however, no information or data transmitted electronically, including information or data transmitted over the Internet or stored electronically can be assumed to be safe and secure. If you believe that the security of any information or data that you have provided to us has been compromised, please immediately notify us of the problem by contacting us in accordance with the "Contacting Us" section below.
CONTACTING US.
If you have any questions, concerns or suggestions about our Privacy Policy, you may Contact Us by mail at: Tierra Financial Advisors, L.L.C, 1341 Horton Circle, Arlington, TX 76011, by email at Development@tierrafa.com, or by phone at 817-390-1700.
EFFECTIVE DATE.
This Privacy Policy was last revised and is effective as of the date set forth at the beginning of this Privacy Policy.
