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MDMN Partners S2 WORKBOOK. Decisions and Notes for Modules 1 – 5. BSMARTer Business Simulation Management and Relationship Training. Executive Summary.

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  1. MDMN Partners S2 WORKBOOK Decisions and Notes for Modules 1 – 5 BSMARTer Business Simulation Management and Relationship Training

  2. Executive Summary • MDMN recognizes that our firm lacks culture, community, and a commitment to each other; all of which we say are core values of our firm. We have a hunger to be greater and a desire for better collaboration, stronger partnerships, and a need for our leaders to lead by example. We plan to encourage professional development, drive accountability, and ensure that all employees’ roles are well-defined, properly managed and fairly compensated. • To ensure accountability and drive the team in a common direction, we will appoint Mary Nedney as CEO. She will drive execution of the firm’s strategy. Mary has proven through her ability to build a strong, cohesive team that she has the right skills for the job. Mary will report to a Board composed of the remaining partners. With assistance from Roger, who has been appointed to CFO, and the entire MDMN, executive team, Mary’s goals for MDMN for the coming year are as follows: • Create an open, sustainable, and team-based firm culture • Form an external board of advisors for external accountability • Design a broad organizational chart • Create and execute on a new service team structure • Develop and implement a fair compensation plan for both partners and staff • Define and standardize performance evaluations • Establish incentive compensation plans for both partners and staff • Create a succession strategy for Don Draper by bringing in Pete and Lane as partners assuming they meet the firm’s criteria for partnership • Create a more team-based approach – Peggy and Mary are teaming up to find ways to instill a collaborative approach across the firm by consolidating resource pools, establishing oversight committees (e.g., investment committee, board of external advisors) and expanding enterprise-wide activities

  3. MODULE 1 Organizational Structure and Compensation

  4. Service Team Structure Advisory team managed by investment committee Dedicated CSA to advisor team PM and Ops teams managed by COO Service team per partner/producer. Continued on next page

  5. Broad Org Chart Current • Future • Change from silo structure to team structure with common function oversight See next page for new organizational structure

  6. Service Team Structure

  7. Compensation Benchmarking This is for Portfolio Manager See Appendix A for position compensation information Source: 2013 InvestmentNews/Moss Adams Comp Study

  8. Compensation Benchmarking

  9. MODULE 2 Staff Selection and Performance Management

  10. Performance Evaluation

  11. MODULE 3 The Culture of Your Firm

  12. Organizational Culture

  13. MODULE 4 Incentive Compensation

  14. Incentive Compensation

  15. MODULE 5 Partner Compensation

  16. Partner Compensation

  17. Partner Incentive Compensation

  18. Other Initiatives

  19. Development Plan and Performance Evaluations - Portfolio Manager- Partner

  20. Compensation Evaluation

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