FastChat Video: Finding the Right Fit

Brought to you by Hightower Advisors

If you are considering selling your advisory business, learn how to prepare by reading Finding the Right “Fit”: The Four Personality Factors that Drive Successful RIA Acquisitions.

1. Hightower just completed research and identified four personality traits that could impact the successful sale of your advisory business.  In your opinion, how do these personality traits assist you with the decision making process? (00:31) 
   
   Culture – What motivates a firm’s relationship to clients and colleagues. The research found four personality orientations related to culture: Innovation and creativity (Visionary); Success and achievement of goals (Achiever); Efficiency and integrity (Protector); Togetherness and mutual well-being (Nurturer).
   Drive – What an advisor is driven to accomplish with his or her business. The research found three personality orientations related to drive: Aggressively grow and scale the business (Builder); Optimize work-life balance (Optimizer); Slow down and transition ownership (Transitioner).
   Passion – What an advisor loves most about being an advisor. The study found four general orientations related to passion: Growing and running a business (Entrepreneur); Optimizing systems and operations (Engineer); Building and managing portfolios (Investor); Working with clients (Coach / Guardian).
   Control – A firm’s relationship to leadership and change. There are four personality orientations related to control: Comfortable with change and letting others be in charge(Delegator); Comfortable as long as I have a seat at the table (Democrat); Not comfortable giving up control to others (Autocrat).
    
2. You took part in the research by being interviewed with the social scientists.  Your own personality traits came back as: (02:20)
   • Omar Qureshi, RIA
     • Culture: Protector
     • Drive: Builder
     • Control: Democrat
     • Passion: Engineer
        
3. Do you think know these traits in advance may have helped you when you were considering the partial sale of your business to Hightower? (04:50)
    
4. How did you know Hightower was the right FIT for Hightower St. Louis? (07:14)