Nerd’ Eye View podcast with Michael Kitces and guest Philip Palaveev
Solving succession: The fate of RIAs depends on their founder's plans to leave
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
How Does Your Firm Stack Up?
“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
How the Best Advisors Are Like Olympic Athletes By Robert D. Oros, and Philip Palaveev
Read full article HERE.
Philip Palaveev, not for the first time, kept Fidelity’s Inside Track conference as sparkly as its ballroom
eMoney form inspires Fidelity function in NYC that serves up a familiar menu with fine garnish. Read full article here
Financial advisory firms are missing their growth target
Read the entire Investment News article here.
Fidelity Announces Winners of Second Annual Be Greater® Awards
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
Nobel prize winners shine light on best compensation practices
“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
How advisory firms can enhance their performance benchmarking skills By Brandon Odell
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
Philip Palaveev and Bob Oros create Hunger Games-style RIA high jinks for Fidelity execs, then release it for wide consumption
Medical interns get cadavers to practice their scalpel skills on. Law students have moot court to hone their oratorical skills. But there are no such dress rehearsals for aspiring financial advisors. Philip Palaveev has teamed up with Fidelity in order to remedy that situation. Fusing fantasy baseball and reality TV, Palaveev is creating a program in which advisors, divvied up into teams, compete against one another and in the process deal with real-life situations facing RIAs. Read more