In Hawaii, the aloha spirit is a way of life, encompassing warm, friendly acceptance, as well as a like-minded reference point to accomplish goals. Larry and Leo Goeas felt that spirit from the attitude and accountability of Raymond James’ professionals, a key reason they joined the firm.
From coast to coast and overseas, the people that uphold our firm’s culture work together to create a personal and unique experience for clients. One handshake with a Raymond James professional often progresses to meaningful discussions and connections with specialized teams spanning the firm. Here, real-life conversations begin and continue with one question in mind: What’s best for the client?
That question is one brothers Larry and Leo Goeas heavily contemplated prior to joining Raymond James in February 2016. As lifelong residents of the Hawaiian Islands, they wanted to join a firm that would respect their local culture and connections with the community, while providing the support they needed to serve the institutional clients who have come to depend on their expertise. Raymond James presented that unique combination.
“We were offered the freedom to run our business, access to firm leadership, and the type of support we need to continually provide exceptional service to our clients,” said Senior Vice President of Investments and Branch Manager Larry Goeas. “The client-centric culture along with the tools and technology we need, especially related to growing our institutional business, allows us to be more proficient in our processes and spend more time with our clients.”
From the beginning, many hands diligently worked across time zones to successfully support the transition of the Goeas Group’s high-net-worth and institutionally focused clients, most of whom are based in Hawaii or the U.S. West Coast. Further, even as some firms have pulled away from providing home office support for the institutional consulting business, pushing the responsibility to advisors to build their own expertise, Raymond James offered a dedicated team – a significant differentiator for the Goeas Group.
“We were thrilled to meet the Asset Management Services Institutional Consulting Services (ICS) team and learn about the support they offer. Since Hawaii is a small state surrounded by the vastness of the Pacific Ocean, a local presence with a global support group means a lot,” Larry said. From streamlining contracts and fulfilling requests for proposals to collaborating on final presentations and providing performance reports, the ICS team customizes deliverables to the needs of the Goeas Group’s clients, all while working as a fiduciary within the governing laws of Hawaii. A key part of that trusted team is My Edmonds, vice president and senior institutional consultant. Not only was My’s expertise and professionalism beneficial to solidifying the value of Raymond James and the ICS team to current clients, she’s also been instrumental in helping attract new clients. “We can’t say enough about My. During a presentation to a prospective client, she validated to the board why we made the move to Raymond James and helped bring them on as clients,” Larry shared. “We anticipate more stories like this to follow, since our team’s capacity to take on new accounts has effectively tripled – we’re not on our own anymore.”
The Goeas Group, including sales assistants Lehua Pahia-Elliot and Sally Kihoi, now engages dedicated departments for specialized tasks they used to administer. For example, the institutional performance reporting team creates performance reports customized to each client’s exact needs. In the case of the Goeas Group, that meant completing 22 distinct and detailed performance reporting presentations in about eight months. “Prior to joining Raymond James, we spent so much time looking in the rearview mirror. For the first time in seven years, I can spend my time looking forward because all of that history has been taken care of,” Larry explained.
The benefit of more time also came by way of the dedicated Retirement Plan Consulting team, which helped the group transfer corporate 401(k) plans to Raymond James. At their prior firm, the Goeas Group couldn’t spend time helping individual employees understand their retirement options, and saw that business dwindling. After meeting with Bo Bohanan, director of Retirement Plan Consulting, they saw that – with home office resources and support – managing company retirement plans could be a viable way to serve clients. Working together, they increased the number of these accounts the group manages. “The technology and systems are very turnkey. In addition to sharing quarterly reports with clients, we have more time to meet with the committees or trustees of the plans as well as with employees, which is crucial,” Larry said.
More time for clients is a theme that has Larry signing his emails “mahalo,” a Hawaiian word, that at its most basic means “thank you.”
“It recently struck me that before I never mentioned who the consultants we worked with were. Here at Raymond James, the people are all I talk about. I consistently bring their names into conversations with clients because these are real people helping me.”