Jeff Thomasson: The Visionary Entrepreneur

Hurley: I’ve argued that successful firms will be confederations of multiple specialties wrapped in one brand.

Thomasson: Intellectually, I agree. Our brand is made up of probably six or seven sub-brands that make up the entire Oxford client experience.

Hurley: What trait will be the hardest thing to find in advisors that you recruit?

Thomasson: Common sense. You know, the heart surgeon that has no bedside manner; the mechanic that can’t explain a carburetor. Every industry has intellectually capable professionals, but when it comes to giving you the short version, explaining how it fits in as a potential financial solution, that’s everything. But how do you interview for common sense?

Hurley: Returning to the industry as a whole, what’s the shape of this industry in 10 years?

Thomasson: In terms of big firms, it can’t be more than 20 or 25. Look at law firms, CPA firms, employee benefit consultants. Look at any kind of service or quasi-service industry. There’s 20 or 25.

Hurley: And specialists?

Thomasson: Yes, then you’ve got some specialists. Then you’ve got everybody else.

Hurley: Lastly, what keeps you up at night? What do you worry about?

Thomasson: A big one involves expanding the circle of leadership at Oxford. These are GET words, with the strength of truthfulness, fair remarks, objective comments and an intentional culture. The truthfulness is really important because it’s really painful, and most people are not willing to be truthful with their peers inside their firms. Their ability to be objective on my behavior, on my views, objective on their behavior, their views, it’s OK to be wrong, GET.

Then the intentional culture. The first 20 years of our organization, we didn’t have a culture. Our culture was a non-culture.

The last 15 years, we’ve had a culture, and now I want it to be an intentional culture. I’ve seen what it’s done for our growth and what it’s done for the quality and transformation of our firm and the resulting benefits to clients and friends.

Hurley: Thank you very much.

Thomasson: Thank you.


Effie Guo contributed to this article.