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

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

Alessandra Malito's article: Advisers wasting time and money by underutilizing tech

“It’s very important to spend time and money to train [personnel], and not just to buy the package and let it be,” said Philip Palaveev, chief executive of the Ensemble Practice, a business consulting firm for financial advisers. “Technology is a tool — it’s not a magic wand.” Read the entire article here