Find a business partner who shares your moral compass

The transcript narrates the story of a business partnership that faced challenges due to differing moral compasses. Initially, the partnership thrived within a structured organization, but issues arose when one partner began to exploit compliance loopholes, disadvantaging insurance companies. Despite attempts to resolve these ethical concerns, the partner's behavior did not change, leading to a split. The narrator reflects on the importance of identifying incompatible business partners early, highlighting their success as a boutique wealth manager, while the former partner is no longer in business.

What was the initial challenge the narrator faced with his business partner?

• Different moral compasses

• Client dissatisfaction

• Lack of communication

• Financial disagreements

How did the narrator's partner manipulate compliance?

• By twisting contract terms

• By benefiting the insurance company

• By directly harming clients

• By following all regulations

What is the term used to describe the partner's poor practice?

• Compliance adherence

• Selecting against

• Client prioritization

• Regulation following

What was the outcome of the disagreement between the narrator and his partner?

• They expanded the company

• They split the company

• They resolved their differences

• They continued working together

What lesson did the narrator learn from his experience with his partner?

• To identify incompatible partners quickly

• To always trust business partners

• To never split a company

• To prioritize financial gains over ethics