Are you compromising your company's culture by hiring brilliant jerks? 

In this episode of Don't Do That, host Kelly Waltrich is joined by Ainslie Simmonds from BNY to discuss the importance of hiring for culture, avoiding toxic influences, and the power of loving the problem rather than the answer. 

Ainslie shares her journey from the fintech world to starting a fintech within BNY Mellon, outlining her insights on innovation, advisor productivity, and cultural transformation. She emphasizes the key to success is surrounding yourself with the right people and avoiding those who may be talented yet damaging to team dynamics.

Kelly and Ainslie discuss:

00:01 Ainslie Simmonds' passion for advisor productivity
00:51 Introduction to the episode and Kelly's no-nonsense approach
1:42 Ainslie's journey and the challenge of building tech at BNY
3:39 Unpacking the "swivel chair" problem for advisors
4:12 The conversation that prompted Ainslie to tackle big fintech challenges
4:52 The birth of Wove, an innovative wealth platform 
7:11 The culture shift within BNY and its impact on wealth management 
11:12 Facing industry giants in fintech 
12:26 The philosophy of "love the problem, not the answer" 
17:17 Ainslie's personal 'Don't Do That'—Avoid brilliant jerks 
18:48 Techniques for identifying toxic hires 
20:28 Kelly and Ainslie's tips for aligning team dynamics and culture 
29:02 The significance of culture in startups and transformation

Connect with Kelly Waltrich: 

• LinkedIn: Kelly Waltrich
• LinkedIn: Intention.ly
• X: Intention.ly
• Instagram: Intention.ly

Connect with Ainslie Simmonds: 

• LinkedIn: Ainslie Simmonds 
• LinkedIn: BNY
• Website: BNY

About Our Guest:

Ainslie Simmonds is a Managing Director and member of the Executive Committee for BNY Pershing. As Head of Global Strategy, Ainslie is responsible for strategy formulation and articulation, market and competitive analysis, business intelligence, corporate development and strategic partnerships. She is also President of BNY Pershing X, a business unit that designs and builds innovative digital solutions for BNY Pershing’s Wealth Solutions clients, including broker dealers, registered investment advisors (RIAs) and trust companies.