A study of strategic partnerships found that, for both the acquiring and target firms, four personality factors play a key role in the long-term success or failure, according to Hightower in its Finding the Right "Fit:" The Four Personality Factors that Drive Successful RIA Acquisitions white paper.
The report was created with market research firm Riedel Strategy and a team of social scientists, who developed a scientific approach to help advisory businesses considering a transaction find the right cultural fit.
The four personality factors are:
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 adviser is d
