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 14 years of public finance experience and currently manages Tierra’s Dallas/Fort Worth-based special district practice. Prior to joining Tierra in August 2019, Evan worked for RBC Capital Markets where he served as lead banker on advisory and negotiated underwriting engagements for cities, counties, regional water authorities, transportation systems, and school districts.
Evan has over 16 years of diverse finance experience, including investment banking, debt structuring and origination, equity derivatives trading, and risk management. He worked 10 years with Bank of America Merrill Lynch in New York and Chicago, covering a broad base of sectors, including power and energy, transportation, water, infrastructure and special situation borrowers. He worked on over 50 senior managed public finance transactions totaling approximately $8 billion.
Evan 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 FINRA registered securities representative holding the Series 3, 7, 50, 52, 54, and 63 licenses.
Matt has over 13 years of public finance experience and currently manages Tierra’s Houston-based special district practice. Tierra’s Houston practice specializes in financings for Municipal Utility District’s (“MUD’s”) and related issuers in a municipal advisory capacity. Matt has extensive experience in providing advisory, underwriting, and placement agent services to Texas municipal issuers including municipal utility districts, water control and improvement districts, tax increment reinvestment zones, regional water authorities, school districts, cities, and a variety of other issuers across the state of Texas.
Matt joined Tierra in March 2020. Previously, Matt worked seven years at RBC Capital Markets, LLC where he managed an underwriting and advisory business. Prior to joining RBC, he worked four years at Fitch Ratings where he performed credit analysis and assigned credit ratings to municipal issuers across the country. Matt has an in-depth understanding of the methodology, procedures, and assumptions used in the rating process. Prior to Fitch, he was a budget and policy analyst for the Colorado General Assembly.
Matt has served on the Board of Directors for the Utility District Advisory Corporation. He graduated from the University of Northern Colorado with a BA in psychology and political science and received his MPA with honors in public finance from the Marriott School of Business at Brigham Young University. Matt currently holds FINRA Series 7, 50, 52, 53, 63, and 79 securities licenses.
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.
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.