People, Personalities and Purpose: Leadership & Culture in the Investment World with Jim Ware

Rosemont Roundtable: Exploring the Business of Investment Management (Formerly Global Investment Leaders)

Effective leadership development has long been a key to success for wealth management firms. Today, the changing nature of how and where we work has only increased the importance – and complexity – of developing high-performing teams and future leaders. In the latest episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart speaks with Jim Ware, the founder of Focus Consulting Group, which serves as a strategic partner to investment firms in developing company culture and leveraging top talent within organizations.

During their conversation, Burkhart and Ware discuss the common threads of enduring leaders and the tools Ware and his team use to help companies create environments that bring out the best in people. Specifically, they discuss:

• The “Red X” concept, which is Focus Consulting Group’s framework for identifying and dealing with a high-performing investment professional who is out of sync with the culture or core values of a firm
• The “Sludge Factor” concept, which is how Ware and his team describe the behaviors and attitudes within an organization that do not contribute to success, from gossip to ego-driven decision making, and how to use accountability and shared values to solve for it
• How personality assessments can help teams better understand themselves and each other while also helping leaders ensure the right people are aligned to the right roles
• The foundation for establishing a successful company culture, which includes accountability, clear agreements and feedback
• Navigating the growing expectation of autonomy among professionals while also maintaining leadership development and mentorship for up-and-coming team members

While there is no formula for the perfect culture and each company looks a little different, the important question to ask is, “Does our company culture allow people to perform at the highest level?” If the answer is yes, then according to Ware’s decades of insight, the firm is on solid footing.