American Advisors Group is a company that is growing as fast as the number of retiring baby boomers, and when there is a need like the one it is filling, it comes as no surprise. Catering to its demographic of homeowners ages 62 years and older, American Advisors Group offers reverse mortgage loans that help clients access the equity sitting in their homes and convert it into cash to be used in retirement.
“Our country is facing a serious issue with a lack of retirement savings for seniors, and American Advisors Group is focused on tackling that issue and making seniors’ lives better”, explains President of American Advisors Group Reza Jahangiri, during an interview with the Orange County Register. American Advisors Group is helping retiring homeowners take advantage of reverse mortgage loans, and uses this financial tool to help them reinforce their retirement income.
The company was built on a centralized and direct-to-consumer business model, housing a majority of its staff members under one roof in the company’s Orange, California headquarters. This structure allows American Advisors Group to train staff within a day or two should there be any changes in the market. The company has also grown nationwide, with additional staff in Arizona, Georgia, Texas, and New York.
“In our business, we are always dealing with change because we have a tie-in to the government,” says Jahangiri during the interview with the President of American Advisors Group, referring to the fact that reverse mortgages are insured by the Federal Housing Administration. “There are always new regulations being instituted to offer borrowers with additional loan safeguards, and we have to be quick to react, respond, and train our staff accordingly.”
American Advisors Group has steadily grown to be a leader in the reverse mortgage industry, with staff numbers rising from 60 employees to more than 800. The Orange County Register named American Advisors Group a winner of the No. 3 spot in the Large Companies category of the OC Register’s 2013 Top Workplaces Award.
American Advisors Group attributes its growth and success largely to its ability to hire and retain world-class, experienced talent. When recruiting, they filter for long-term thinkers with industry experience. Once finding quality employees, management maintains an open dialogue with staff while investing in employees by providing best-of-breed training and equipping them with the tools and support they need to be successful in their jobs.
“In the rapidly changing reverse mortgage industry, hiring and retaining top talent is critical to the success of the company. It’s simple, really. Our business needs great people in order to thrive. With this in mind, we continue to look for ways to continually invest in our employees and company benefits in order to remain competitive,” Jahangiri says.
With a solid group of quality staff members and an industry only getting stronger with the coming generation of boomers entering retirement, American Advisors Group is poised to continue its growth and leadership in the reverse mortgage space.