Mark and Vickie Spelts of Spelts Wealth Management in Chico, California, died in a plane crash north of Kansas City on Wednesday.
"It is with profound sadness that Spelts Wealth Management Inc. announces the passing of our cherished friends, visionary business leaders and dedicated community members," the advisory firm said in a statement shared with ThinkAdvisor on Friday.
According to news reports, the Cessna C340 crashed in Excelsior Springs, Missouri, after departing from an airport in Washington, Missouri, on Wednesday afternoon.
"The Clay County Sheriff’s Office told station KRCR on Thursday that the plane, which was attempting to land at the Midwest National Air Center [in Excelsior Springs], crashed around half a mile short of the runway," according to a report. "The aircraft erupted into flames, followed by multiple explosions, while two occupants remained inside."
An investigator from the National Transportation Safety Board visited the crash site Thursday as part of the process to ascertain what caused the plane to go down, KRCR reported. This process typically takes 12 to 24 months.
Spelts Wealth Management, where Vickie served as vice president of operations, worked with $85 million in assets under management as of April 15, according to its latest regulatory filing. The firm was formed in 2002 by Mark, the CEO, and now does business as a California-registered RIA.
Mark joined the industry in 1988 and worked for five firms during his career, including Merrill Lynch, Edward Jones and LPL Financial, according to his BrokerCheck records. The Nebraska native obtained his private pilot's license in 1976, the advisory firm's website states.
Mark and Vickie’s leadership "was the driving force behind Spelts Wealth Management’s growth and success," the firm explained in its statement. "Their unwavering dedication, innovative spirit, and commitment to excellence were not only integral to the business but also served as a constant source of inspiration to all who had the privilege of working alongside them."
Beyond their professional accomplishments, "Mark and Vickie were pillars of our community," the statement continued.
The husband and wife provided "kindness, generosity and tireless work to support Enloe Hospital, the Chico Police Business Support Team, Chico Regional Airport, Canyon Oaks Country Club and Chico’s Elks Lodge exemplified the best of us," the firm said. "They believed that success was not measured by profit alone but by the positive impact we can have on the world around us. Their spirit of service will be greatly missed."
— Janet Levaux contributed to this report.
(Photo of Mark and Vickie Spelts courtesy of Spelts Wealth Management.)
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