In the ever-evolving landscape of the financial services industry, a unique hybrid model is emerging, blending traditional mortgage services with investment fund management. As automation cuts down on grunt work, boutique firms like Myers Capital and Myers Investment Group are embracing operational efficiency while maintaining a hands-on approach to client relationships.
Headed by Reed Myers, the firms operate in a high-cost market like Hawaii, where the median price for a single-family home on Oʻahu soared to $1.02 million in early 2024. In such competitive conditions, offering both flexible financing and investment solutions under one roof can be a game changer in retaining clients.
The journey for Myers began amid the turmoil of the 2008 financial crash, when he stepped into the family business founded by his father in 1998. Initially uninterested in the industry, Myers saw a transformation once he delved deeper into the work. “When I got involved in it later as an adult, I started to do really well. I loved it,” he shared.
From a former real estate analyst in the Carolinas, Myers grew the family-run operation into a multi-branch enterprise with a lean team but extensive reach. His experience during the 2008 recession not only shaped his career but also helped him to develop a robust business strategy that merges lending, brokering, and fund management.
The pandemic has also influenced the way the firm operates, leading to the embrace of remote work and a reduction in physical office space, without sacrificing the personal touch his business is known for. “Part of my approach is very hands-on, very personal. I meet with my clients; I sit with them for an hour or two,” he explained. However, he acknowledges that the clients have become increasingly tech-savvy, something that has reshaped interaction dynamics.
Managing an investment fund is no small feat; it involves raising capital and ensuring investments are deployed strategically to generate the yields investors expect. Yet for Myers, the focus is less on formal pitches and more on fostering relationships with clients. Through a flexible network, he notes how borrowers often cross into the investor role, promoting a symbiotic relationship that benefits all parties involved.
“We have that full spectrum. We can help them on either side and give them a tremendous amount of creative lending options,” Myers stated. This multi-faceted approach is increasingly attractive in a competitive landscape, where collaboration often trumps rivalry. Myers highlighted the importance of partnerships in executing larger deals, noting, “You would think one fund manager is vying for the capital that’s out there, well, it’s yes and no. Many times, we collaborate with other fund managers to do larger deals that we would otherwise not be able to execute.”
Another cornerstone of Myers’s business strategy is his commitment to delivering lower rates to clients. By negotiating effectively with capital sources, he passes savings onto his customers rather than retaining them as profit. Myers believes in fostering good-quality relationships over sheer profit maximization, stating, “I’d rather have two or three good-quality clients that will refer us to their friends and family and other investors, than trying to maximize profits on any one deal.”
However, conducting business in Hawaii is not without its challenges, particularly the high cost of living, which presents significant hurdles for both Myers and his clients. “So, if you’re a first-time home buyer, that’s not what you’re going for, unless you have gift funds from family members or are a very high-income earner,” he observed.
This financial burden often forces many residents to reassess their career aspirations, and in some cases, sacrifice personal passions for economic practicality. “It’s challenging deciding what you want to do, as far as a career goes in Hawaii; you may have to go beyond [the] things you really are passionate about,” Myers reflected.
Despite these challenges, Myers insists that living and working in Hawaii is a risk worth taking. As boutique firms leverage technology to adapt and thrive in this high-cost environment, understanding client needs while maintaining personalized service is becoming essential. In a landscape crowded with specialization, the hybrid model stands out—a testament to innovation and resilience in a competitive industry.
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