Nerd’ Eye View podcast with Michael Kitces and guest Philip Palaveev

Every year, the succession consultant Philip Palaveev says he gets calls from firm founders who have been diagnosed with cancer. Often it’s too late to do anything about the complex and time-consuming process of succession, Palaveev says. Many experts advise a 10-year runway to plan for internal succession. Read More

“Benchmarks are like a dashboard in a car,” says Philip Palaveev, CEO of The Ensemble Practice, a support and service organization for financial advisory firms based in Seattle, Wash. “Benchmarks showing what other firms are experiencing can tell you if you are growing too fast or too slowly and if things are working properly. Read More

Read full article HERE.

eMoney form inspires Fidelity function in NYC that serves up a familiar menu with fine garnish. Read full article here

Read the entire Investment News article here.

Winners were chosen by an esteemed panel of industry professionals: Karen Barr, Investment Adviser Association; Joel Bruckenstein, Technology Tools for Today; Mindy Diamond, Diamond Consultants; Beverly Flaxington, The Collaborative; Brian Hamburger, MarketCounsel; and Philip Palaveev, The Ensemble Practice. Click here to read full article

“A small but growing minority group of advisers are developing incentive compensation based on performance, usually based on performance of the firm and performance of the employee,” said Philip Palaveev, chief executive of The Ensemble Practice. “For that to work well, the firm needs to have a mechanism for evaluating the performance of the employee.” Read the full article here

Benchmarking is an important part of planning for the success of your business. Currently, we use expected financial results as a tool to exercise good managerial sense and assess risk. However, advisory firms struggle to make accurate statements about the future of their businesses. Read More