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Aspen’s Wally Raymond Obermeyer passes away

Catherine Ward
Walter Raymond Obermeyer's stepdaughter
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Walter Raymond Obermeyer.
Courtesy photo

Aspen mourns the passing of Walter Raymond Obermeyer on May 23, 2025. Son of iconic ski-wear pioneer Klaus Obermeyer, Wally was a serial entrepreneur and innovator, building Obermeyer Wealth Partners, Obermeyer Place mixed-use development in Aspen, the Vallecito Hydro Electric Plant near Durango, and a legacy at Sport Obermeyer. 

Born at Aspen Valley Hospital on Halloween 1956, Wally grew up connected to this valley’s history and was optimistic about its future, leaving a wide wake of respect and admiration with everyone he encountered. A man of “-isms,” his favorites were “you can only eat one steak a day,” and “your reputation is your working capital,” capturing a life built on humility, frugality, and mutual respect.

Those who knew him well often describe his rare blend of observation and wisdom. He was a man who listened more than he spoke, but when he did speak, others leaned in. He did not seek attention or accolades, and yet they found him.



Wally’s entrepreneurial spirit and keen eye for opportunity emerged early. At 12 years old, he walked from Emma to Aspen to secure a bank loan to purchase two Brown Swiss cows, Silky Milky and Boss, so he could supply the 1970s “hippies” with unpasteurized milk and cream.

After a four year stint as a ski patroller on Ajax, he went to Harvard and then Harvard Business School.  A ranch boy unfamiliar with the hallowed air of academia, he moved into an apartment on Commonwealth Avenue. He brought his deer rifles with him, which he found useful when someone attempted to burglarize his apartment (No one was harmed, but the building never endured another burglary). He found his community on the crew team. At one point, struggling to balance his rigorous course load with his intense rowing, he admitted to a lifelong friend that he was considering dropping crew to focus on his studies. Bill replied, “Wally, I would like to think a great man could do both.” And so he did. 




Upon graduation, he headed back to Colorado to build the Vallecito hydroelectric project near Durango. Ignorant of the vast regulatory hurdles around hydropower, Wally pushed the project through by sheer force of will, once creating a rudimentary fish net and personally counting hapless trout to pass FERC’s environmental review. 

With the project running, he became a regional sales manager for Sport Obermeyer, where he implemented the first computer-based supply chain management system and a product ordering approach that resulted in a Harvard Business School case study still taught today.

Eventually, Wally branched out to establish Obermeyer Wealth Partners. Joined early on by Roger Hennefeld, Chris Goodendorf, and current President Ali Phillips, he built a team with “swing” and a “service heart.” Wally found much of the investment advice he needed in his team’s annual pilgrimage to the Berkshire Hathaway meeting, where Warren Buffett’s long-held value investment philosophy underpinned Wally’s commitment to deliver financial peace of mind to his beloved clients. In early May of this year, he watched Warren Buffett step down as CEO and took solace in the idea that he wouldn’t miss another party with the Oracle of Omaha.

Under Wally’s steady leadership, Obermeyer Wealth Partners became one of the most trusted and highly regarded independent wealth management firms in the nation. Barron’s, Forbes, and CNBC repeatedly recognized the firm’s excellence, earning awards since the mid-2010s, including Forbes Top Wealth Advisors and Top RIA Firms, Barron’s Top 100 Independent Advisors, and CNBC’s Financial Advisor 100. In 2019, Barron’s inducted him into its Advisors Hall of Fame. 

Wally’s ethic extended beyond his professional success. He dove into the operations and financial health of organizations that reflected his values, serving a 12-year term on the Colorado-based Gates Family Foundation board, chairing the Denver Museum of Nature and Science Foundation, cycling on and off the boards of Aspen Center for Environmental Studies and Aspen Valley Land Trust, and serving a term as Aspen’s Financial Advisory Board Chair.

In the final chapter of his life, faced with daunting medical challenges, he and his wife Helen made a resolute choice not to be defined or diminished by illness but to live forward with intention, presence, and love. In those last 18 months, Helen’s love for Wally — fierce, unconditional, and tender — shone bright. It was in every way a final sprint filled with purpose, including checking off one of his lifelong ambitions to visit one of the great engineering wonders of the world: the Panama Canal.

Wally leaves behind his beloved wife, Helen Obermeyer, and his children: Natalie Hunter and her husband Matthew, their children William (5), Emma (3), and Eleanor (½), Peter Obermeyer, Ryan Obermeyer,  stepdaughters Kyra and Catherine, his father Klaus, mother Nome, and siblings Henry Obermeyer, Suzan Strauss, and Klaus Obermeyer Jr. 

Wally also leaves behind his beloved Cessna-180, PC12, and an anthology of dirty jokes that he hopes his wide network will employ at every inappropriate opportunity.

A service will be held at the T-Lazy-7 Ranch in Aspen at 11 a.m., Thursday, July 24. All who knew him are welcome to attend. 

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