Rand died peacefully at his home in Alexandria, Virginia on May 22, 2017. Son of Channing and Hope Guffey, Rand was born and raised in Oklahoma City, Oklahoma. After graduating from Harvard College and the University of Texas law school, he served as assistant district attorney in Dallas, Texas, then moved to the Washington area to serve on the staff of Dept. of Energy Secretary James Schlesinger in the late 1970s. From 1983 to 1991, he worked on Wall Street for Thomson McKinnon Securities, developing oil and gas limited partnerships and serving as Assistant General Counsel. He became a financial advisor in 1991, working with Allmerica Financial in New York before establishing his own investment management firm, Topstone Advisers, in Connecticut. 

He is survived by his wife, Mary Jane Mayer Guffey; children, John Guffey of Danbury, Connecticut, and Kyle Anne Guffey of Alexandria, and sisters Annis Guffey Kernan and Kim Guffey of Tulsa, Oklahoma.