Today we’re going to talk about what to look for when hiring a leader for your investment team. Essentially, there are two key questions to ask yourself about the candidate under consideration.
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What kind of qualities should you look for when hiring a leader for your investment team?


Most of the market is full of institutional professionals coming from foundations, endowments, hedge funds, etc., and people often ask us if they should just hire a person from one of those backgrounds. Quite frankly, we’re usually tasked with replacing someone from that type of background who has transitioned unsuccessfully to the private wealth arena.


There are two key questions to determine whether a candidate will be a good fit for your firm.


First, are they personable and able to speak to the level of the people they deal with? This question addresses your candidate’s client-facing skills. Can they simplify important concepts and emphasize your client’s goals, rather than speaking about markets in complex terms a layperson wouldn’t understand?


Second, have they internalized what your business is all about? They may come from a tax exempt environment, or a firm that values performance above all else. While that’s important, it doesn’t drive your firm’s bottom line as much as the relationships and long-term goals of each of your clients. Make sure your candidate isn’t wired a different way, and that they understand that their value to your firm isn’t driven entirely by what the markets are doing.


In other words, they need to understand the “what,” “why,” and “where” you’re going in relation to what’s valuable to you and your clientele. If you can answer “yes” to each of these questions, your candidate will be a fantastic hire.


If you’d like to know more about what to look for when hiring a leader for your investment team, please feel free to schedule a complimentary consultation with us. We look forward to hearing from you soon.

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