by RENEE PATRICK Cascade Business News Feature Writer
Oran Teater recently announced the formation of an independently owned and operated financial services branch office affiliated with Raymond James Financial Services. Teater is joined by Clay Trenz, Stan Hauxwell and Ken Hauxwell. The four team members have over 86 years of combined experience in financial advising and are looking forward to the opportunities an independent office will offer.
Teater explains that as an independent financial advising brokerage firm, “we are able to put our own team of advisors together; the team members bring their own book of business to the firm and we have every service available as any other wire office. We are responsible for our own overhead and Raymond James acts as our parent organization.” As community involvement is very important to Teater, the firm’s marketing plan will exclusively focus on sponsoring local events.
Teater has been working towards forming an independent office since ending his term as Bend’s Mayor in 2004. He put a business plan together but found it difficult to find the right advisors for the job, so moved his practice to another regional firm in the area. Teater realized there was a cultural divide between a wire house and independent firm, and so continued to work on finding the right team.
“Experience and succession planning was what I had been looking for since 2004.” he explained, “I wanted a group of seasoned financial advisors who wanted an opportunity to work independently and continue to add value to their practice with the freedom to make our own decisions locally.”
This April, he was finally able to open the office with Trenz. The Hauxwell brothers joined the group in early July along with support staff Barbara Doust-Boggess, Valerie Hobbs, Landra Macy and Sam Hauxwell.
Teater worked for 20 years as an advisor for Raymond James. Trenz brings twelve years of experience from AG Edwards/ Wells Fargo Advisors. Stan Hauxwell is a past branch manager of RBC Dain Rauscher and a 30 year veteran of the financial services industry and Ken Hauxwell joins the office from Wells Fargo Advisors in Portland.
Trenz, 38, and Sam Hauxwell, 27, bring successful financial advising portfolios to the group and will ensure the continuation of the firm as the older members plan retirement. Teater states, “In the brokerage industry there aren’t a lot of younger people coming into the business… now it’s harder to build a book of business where back in the day we used to cold call. What is interesting about Raymond James is you have to be at a certain production level, you have to bring a book of business.”
Getting the advisors’ clients shifted over will be the focus of the immediate future. A member of Raymond James’s transition team is currently on hand to assist in the process; Teater commented, “We have had wonderful support from Raymond James.”
Founded in 1962 and a public company since 1983, Raymond James is a diversified financial services holding company with subsidiaries engaged primarily in investment and financial planning, in addition to investment banking and asset management.
Through its three broker/dealer subsidiaries, Raymond James Financial has more than 5,400 financial advisors serving 1.9 million accounts in 2,400 locations throughout the United States, Canada and overseas.
121 NW Greenwood Ave, Suite 101, Bend OR 97701, www.Raymondjames.com, www.Claytrenz.com, 541-382-1406.
