Trusted Advisors, Fast Path to Scale Growth

Posted by Edward X. McNamara on February 07, 2017

At Armada, we take great pride in the protections our risk managers devise and the insurance coverages our brokers secure when mitigating risk exposures. But I would be lying if I didn’t admit that we find the greatest joy when we contribute to our clients’ growth.

One of the contributions we make is to foster the sharing of ideas, best practices, and growth insights among our clients and business partners. This is why we’re happy to relay the success of Cohen & Company under the direction of its CEO Randy Myeroff. The Cleveland-based accounting, tax and consulting services firm has grown tenfold during his 20-year tenure as CEO, nearly doubling in size in the last three years alone to over 400 employees.

When asked what made this growth possible, Randy shares: The client is – first and foremost – the focus of all Cohen & Company does. Employees never forget that they come to work every day to serve clients.

Randy knows the firm must support its associates in this regard, which is why the firm is dedicated to continuously building the right culture that attracts and retains people who share its values, passion and commitment to client service. This means recruiting people with the capacity for greatness, who are kind and who are “scary smart.” Randy recognizes to possess these qualities requires that employees understand the power of both competitiveness and humility, as balancing these virtues helps them to be true to the firm’s culture.

Lastly, Randy and the Cohen & Company leadership team surround themselves with top-tier advisors, professionals with the expertise that can guide and protect the firm in various ways. More so, these advisors share a commitment to client service, as well as appreciate the firm’s culture and personality.

“Risk management is at the forefront of every organization’s strategy, including ours,” says Randy. “This is why Armada’s CEO Ed McNamara has been a trusted advisor to Cohen & Company for nearly 10 years. And his risk management and insurance brokerage exemplifies all the traits we look for in a trusted advisor and business partner.

“Ed and Armada’s team of industry veterans are always thinking beyond any one transaction. They invest the time to understand where our business is going and help us understand the risks inherent in our vision, providing us with insights on how to manage our risk and structure all our insurance programs accordingly. For instance, Ed advised us more than five years ago that a self-funded group benefits program would best serve our employees. The resulting program has been an asset in recruiting talented people to contribute and strengthen our culture.

“We’ve made many big leaps to grow to a size of more than 400 people. The counsel of the team at Armada and their ability to execute contribute to our growth by giving us confidence as we move forward.”

Cohen & Company is guarded when recommending other trusted advisors to clients. “The select few we recommend must meet our standard for service quality, operate with the same philosophy of value, and bring the same energy and entrepreneurial spirit that we share with our clients,” says Randy. “Armada embodies these traits. While its name might be new to some, its deep talent in risk management, passion to serve, and commitment to continual improvement make them a natural fit for any of our clients.” •
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About the author Edward X. McNamara

Ed McNamara is CEO and founder. With his partners, he delivers protection and growth at their full-service commercial insurance brokerage. Their proprietary examinations of risk profiles gives them a window into client challenges and opportunities. This perspective helps them to identify prospective customers, partners, and strategic suppliers in their fleet who – through personal introductions – can enable their clients to grow, prosper, and become more competitive.