Darrell Avery - Helping Investors in the Heart of Hawaii

1. VOL. 4, NO. 2 • SPRING/SUMMER 2012
A Publication of Pacific Life, Retirement Solutions Division
SM
Darrell Avery
Helping Investors in
the Hear t of Hawaii
9/12
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No bank guarantee • Not a deposit • May lose value
Not FDIC/NCUA insured • Not insured by any federal government agency

2. D
DARRELL
Helping Investors in
uring the first few minutes of the Academy
Award‑nominated movie “The Descendants,”
George Clooney’s character, Matt King, delivers
a thought‑provoking monologue about living in Hawaii. He
says that people who don’t live in Hawaii think of
Hawaiians as “living in paradise.” Yet despite the islands’
undeniable beauty, life there is not a carefree paradise.
Hawaiians have the same challenges in life as everyone else.
“The idea isn’t to sell a mutual fund or
variable annuity; it’s to give clients a broader
idea of how to achieve their goals.”
Pacific View
Spring/Summer 2012

3. AVERYof Hawaii
the Heart
That includes financial challenges—a fact that
Darrell Avery knows well. For the past 21 years,
Darrell has been a professional financial consultant
for Bankoh Investment Services, Inc., on the island
of Oahu. Bankoh Investment Services, Inc., is a
full‑service broker/dealer and a subsidiary of Bank
of Hawaii, which is the largest independent financial
institution in the Aloha State. His typical clients are in
their mid 70s—and Darrell says they have the usual
island attitude toward life. “A lot of people here on
Oahu—especially people in the generation before
me—are very humble,” says Darrell. “Even the ones
who have substantial assets rarely show it. They
dress like everyone else, drive moderately priced
cars, and they’re so grateful when I do something
simple like take them to lunch or hand them a box
of golf balls. In fact, all my clients show a great deal
of appreciation for what I do for them. It’s really
very rewarding.”
Ko Olina, Oahu, Hawaii
Darrell was born in Hawaii, but he hasn’t lived there
his entire life. His father was in the military so, as
a boy, he relocated several times. He has lived in
Missouri, Washington, and Okinawa, Japan. Later
in life, he married a military officer, and when she
was assigned to a base in Texas, Darrell moved with
her. “The company that
I worked for at the time
transferred me to Austin,
where I ran one of the
firm’s biggest offices,”
Darrell says. “It was a
great opportunity, but
I went through culture
shock. Not having ocean
around me was really
something to contend
with, and the pull of the
islands got too strong. So,
we came back home.”
Darrell (foreground), John Cruise,
and Michelle Cabreros
Spring/Summer 2012
Pacific View
1

4. Darrell (center)
enjoys riding dirt
bikes with sons
Aaron (left) and
Chris (right)
It was then that Bank of Hawaii asked
Darrell to work for them as a loan officer.
After a year in that position, he saw a
posting in the bank for a new opportunity.
“The bank was opening a new Retail
Annuity Division,” says Darrell. “It sounded
interesting, but I had to go to the dictionary
to find out what an annuity was. Twenty-one
years later, I’m still here and still enjoying
what I do.”
While some think of bank financial
consultants as focusing on “transactional”
sales, Darrell’s approach is anything but.
He prides himself on a consultative
relationship with clients, taking the time
to understand their goals, objectives, and
risk-tolerance levels. He also reviews
various product solutions and educates
the client on diversification.
“With many of my clients,” says Darrell,
“the goal is to identify an investment that
In the Business of Doing Better
can potentially generate competitive,
Today, Darrell helps numerous clients
sustainable income payments. Right now,
who simply want to “do better” with their
that’s often a variable annuity, because the
money. Many of them have been Bank of
issuing insurance company offers certain
Hawaii customers for decades, have very
guarantees, such as a death benefit and
little investment experience, and are looking
living benefit guarantees when an extra-fee
for guidance on how to make their money
rider is chosen. I explain variable annuity
work harder. “They’re
guarantees are
fairly conservative,” says
based on the
Darrell, “and they’re
“All my clients show a great deal of claims-paying
looking for alternatives.
ability of the
So you have to talk to
appreciation for what I do for them. insurance
them about something
company that
It’s really very rewarding.”
that’s appealing. Maybe
issues the
it’s tax deferral. Maybe
investment.
it’s wealth transfer,
I also discuss
using universal life or
the pros and cons of mutual funds. When
variable universal life insurance policies.
I talk about diversification, which is
That’s where we come in.”
not putting all their assets into any one
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Pacific View
Spring/Summer 2012
Darrell hits the water
Darrell and Pacific Life
consultative wholesaler
John Cruise share a good
working relationship

5. investment, I also remind them that this
strategy doesn’t ensure a profit or protect
against loss in a falling market. So the
idea isn’t to sell a mutual fund or variable
annuity; it’s to give clients a broader idea of
how to achieve their goals and still be true
to their conservative nature.”
Many Happy Returns
Darrell prides himself on the numerous
clients who, after their first meeting
with him, come back for more advice—
sometimes after decades have gone by.
Each time a client returns, Darrell begins
by reassessing goals. “I tell myself that
the one thing all my return clients have in
common is that, now, they’re a bit older.
So we begin again. We sort out the current
situation. Where are they now? Where do
they want to go?”
He feels that the secret of his success lies in
his attitude toward his clients. “I truly enjoy
working with older clients,” he says. “They
have so much to teach us. Plus, as a single
dad raising two great sons—both of whom
have recently graduated from college—I
felt it was important to teach my boys how
to treat people and always be respectful
of their kupuna, a Hawaiian term for
respected elders.”
“In addition,” says Darrell, “I’ve always
focused on producing results for my
clients. If they give me repeat business, it’s
because, years ago, I made suggestions that
truly helped them in some way. So you try
to do that with every client. I think if you’re
very sincere in wanting to help, it carries its
weight in gold by the fact that you’re sitting
with the client again many years later.”
Spring/Summer 2012
Pacific View
3

6. But, Darrell says, his own attitudes and skills
says he is currently a big proponent of Pacific
aren’t the only reasons for his success. Often,
Life variable annuities and has also sold the
it’s the result of having a talented assistant
company’s deferred fixed annuities, mutual
at his side who helps him focus on what he
funds, and single‑premium immediate annuities.
does best. “My colleague Michelle Cabreros
He is particularly enthused about the support
and I have worked together for 20 years,”
he receives from Pacific Life. “My wholesaler,
says Darrell. “We know each other well,
John Cruise, is always there for me with
and a big part
anything I need,”
of my success is
“Overall, I think Pacific Life’s support says Darrell. “He
attributable to
takes a very sincere
her. I wouldn’t be
is second to none.”
interest in the people
where I am today
he works with. His
without her.”
internal wholesaler,
Jimmy Boese, is also excellent. And when
Why Pacific Life?
I call customer service, it’s fantastic. So,
Darrell has had a long affinity for
overall, I think Pacific Life’s support is
recommending Pacific Life to his clients. He
second to none.”
Michelle Cabreros is
Darrell’s talented assistant
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Pacific View
Spring/Summer 2012

7. Sandy Beach, West Shore, Oahu, Hawaii
For more information contact:
Darrell R. Avery, CRPC®
Bankoh Investment Services, Inc.
130 Merchant Street
Honolulu, HI 96813-4405
(808) 694-6550

8. You should carefully consider a variable annuity’s risks, charges, limitations, and expenses,
as well as the risks, charges, expenses, and investment objectives of the underlying
investment options. This and other information about Pacific Life are provided in
the product and underlying fund prospectuses. Please contact my office to obtain a
prospectus. These prospectuses should be read carefully by clients before investing.
Variable annuities are long-term investments designed for retirement. The value of the variable investment options
will fluctuate and, when redeemed, may be worth more or less than the original cost. Annuity withdrawals and other
distributions of taxable amounts, including death benefit payouts, will be subject to ordinary income tax. If withdrawals
and other distributions are taken prior to age 59½, an additional 10% federal tax may apply. A withdrawal charge also
may apply. Withdrawals may reduce the value of the death benefit and any optional benefits.
Traditional CDs are insured by the FDIC and offer a fixed rate of return, whereas both the principal and yield of
investment securities, in particular, variable annuities, will fluctuate with changes in market conditions.
IRAs and qualified plans—such as 401(k)s and 403(b)s—are already tax-deferred. Therefore, a deferred annuity should
be used only to fund an IRA or qualified plan to benefit from the annuity’s features other than tax deferral. These
include lifetime income, death benefit options, and the ability to transfer among investment options without sales or
withdrawal charges.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company.
Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by
Pacific Life & Annuity Company. Product availability and features may vary by state. Each company is solely responsible
for the financial obligations accruing under the products it issues. Insurance product and rider guarantees are backed
by the financial strength and claims-paying ability of the issuing company and do not protect the value of the variable
investment options.
Bankoh Investment Services, Inc., is a non-bank subsidiary at the Bank of Hawaii and member FINRA/SIPC. Services are offered
and sold by Bankoh Investment Services, Inc.
Pacific Life is unaffiliated with Darrell Avery, Bankoh Investment Services, Inc., and the Bank of Hawaii.
Reprinted with permission from
Pacific Life Insurance Company, Retirement Solutions Division.
All rights reserved. Copyright © 2012 Pacific View.
Variable insurance products, as well as shares of the Pacific Select Fund, are distributed by Pacific Select
Distributors, Inc. (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach,
CA), and are available through licensed third-party broker/dealers.
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