Everything Sloan Payne said on any show that made the record, most notable first. Each card names its show and opens the statement there.
WCM hires for self-awareness through personal networks rather than credentials
“There's a layer of nepotism here that's worked incredibly well. Because people are pre-vetted, and if you're hiring not for credentials, but for self-awareness for the whole person, that's the whole ballgame for us.”
Payne: WCM overtrusts employees in roles before they prove readiness
“We want to overtrust people before they're ready, put them in roles before they've proven they can do them. That's our whole mantra. And then we pay them really, really generously.”
Payne: A dedicated culture officer becomes essential once headcount reaches 50
“You need a dedicated person building into the culture, reminding people of good relationship habits, helping people interact in ways that reduce friction, that encourage connection and collaboration, and that's Matt's job. It probably would have been useful at…”
WCM partners receive seven years of profits before returning equity at book
“So our thing is the own equity. We'll continue to pay your dividend. You participate in the profitability of the firm for seven years. After that, you give your equity back at book value, which at an investment management firm is nothing.”
Payne: WCM operates without multi-year business plans
“Since I've been here, we have never had a five-year plan. We have sales targets and we have some projects we're trying to complete every year, but we don't have a business plan for the next one, two, three, four or five years.”
Demanding pure logic in asset management destroys the possibility of non-obvious discoveries
“When you demand logic, there's a hidden price that you pay, you destroy magic. The whole world's run by logical people. But if that's the case, if it were only run by logical people, you'd only discover logical things. And I guess the point is in real life, A …”
WCM Co-Founder Kurt Winrich gave 66% of his equity to employees
“Kurt, who's now retired, owned 90% of the firm. When he retired three years ago, he owned 24% of the firm, a firm that was hundreds of times larger than it was when he started, and he handed the rest of that equity to the rest of the employees at virtually no …”
Wide autonomy with clear boundaries enables teams to self-correct mistakes
“Our view is have a really big field with really right fences and let people run. This weird thing happens where People know where the fences are. 95% of the time, they don't have to check. They know. And when they don't know, that five percent of the time wher…”
A single WCM employee migrated Salesforce to HubSpot in under three months
“We had some outside consultants that told us it was going to take, I don't know, Two years to get migrated and all the relational connections between the data. He did it with very little help in less than two and a half or three months.”
Fewer than four employees have voluntarily left WCM since 2004
“The number of people that have left WCM voluntarily in that time span, it's less than three or four.”
Sloan Payne will retire in two years, with Dave Jerger succeeding him
“I'm retiring in two years, and he's taking over my job.”
WCM Investment Management manages $120 billion in global assets
“We're running one hundred and twenty billion dollars globally.”
Payne: Deliver performance feedback sooner rather than louder
“We say we have a saying that you do that sooner, not louder, before you build up a story about it. You give the person feedback before it's expanded into a narrative that's a fiction as much as it is the truth.”
WCM built an internal AI assistant to analyze earnings and expert networks
“We have a thing called Sherpa, which is this internal AI research assistant. It's built by the investment team, and it's a data scientist and an AI guy we brought in. It does deep research on earnings transcript, expert data networks, aggregating colossal amou…”
WCM Investment Management has almost blown up at least three times
“We've almost blown up at least three times that I know of, but because it is a high margin business with good recurring revenue, you can afford to pay people.”