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Is the Future of Independent Advice in Good Hands?


BOSTON – Fidelity Clearing & Custody, the division of Fidelity that provides clearing and custody to registered investment advisors, retirement recordkeepers, broker-dealer firms, banks and insurance companies, together with The Ensemble Practice, today announced the G2 Leadership Institute, a leadership training program that takes a new approach to developing the next generation of talent in the independent advice industry by offering "real-world" simulations.

In recent focus groups of young, successful advisors, Fidelity identified training and experience-building as imperative to the success of the next generation of talent.1 The G2 Leadership Institute immerses talent in real-world simulations faced by advisory firm leaders, such as buying another firm and defining a business strategy, in order to ensure that the $2.3 trillion in assets that are currently held by financial advisors over 60 years old2 are transferred to capable hands. Participants will make real-time decisions that will impact their success, within the construct of a "safe" environment in which they can learn and grow.

Produced by The Ensemble Practice and sponsored by Fidelity Clearing & Custody, the Institute launches in January 2016 and is now enrolling its first class. The Ensemble Practice will select participants on the basis of their achievement and experience. Clients of Fidelity Clearing & Custody have access to an exclusive enrollment period as well as discounted pricing for the program.

"For smaller businesses, it can be risky to offer 'real-world' experience on high-stakes decisions,” said Bob Oros, executive vice president and head of the RIA segment, Fidelity Clearing & Custody. “This program allows tomorrow's leaders to go beyond knowing about the latest trends and scenarios to actually experiencing what it's like to manage through them."

"The G2 Leadership Institute is designed to be a high-impact, practical training for future leaders within a growing, evolving organization," said Philip Palaveev, CEO of The Ensemble Practice LLC. "To accomplish this, we've pulled together some of the best minds in the industry to give participants the ability to learn and strategize with them and bring ideas and insights back to their own firms."

Two years in the making, the Institute is based on Fidelity's multi-year business simulation program that gives its relationship management organization first-hand knowledge and expertise in owning and running an advisory firm. "Having participated as a mentor in the simulation program, which was the pilot for the Institute, I saw how immersed the participants were and realized that this is a fantastic learning opportunity for the next generation of talent in our industry," said Russ Hill, chairman and CEO of Halbert Hargrove Global Advisors. “I would encourage future leaders, at my own firm and at other firms, to take advantage of this program so that we can all meet the challenges this industry will face over the next 10, 20, 30 years."

The Institute will have an esteemed group of industry professionals serve as instructors and mentors, helping to guide the two-year program, including Tim Kochis, former CEO of Aspirant and industry consultant; Sam Allred, founder and CEO of Upstream Academy; and Dr. Susan Duvall-Dickson, COO of Private Ocean Wealth Management. For more information on the G2 Leadership Institute or to enroll in the program, visit

About the G2 Leadership Institute

  • The Institute launches in January 2016 with enrollment beginning September 29, 2015. Clients of Fidelity Clearing & Custody have access to an exclusive enrollment period and discounted pricing.
  • The Institute will be accepting 50 participants, with 10 teams of five making up each simulated "firm." Participants will remain with their firms for the duration of the program and experience first-hand how to make leadership decisions with a team of peers.
  • The Institute is a two-year program with one business simulation topic per month that reflects being a firm leader in today's evolving marketplace, such as the impact of changing investor dynamics on a firm’s strategic plan.
  • The program spans two years to allow participants the time they need to balance leadership training with their day-to-day jobs and to allow the program to grow to meet the changing needs of the participants and firms over time.
  • In addition to receiving access to industry leaders as program instructors, every firm will have an industry professional serving as team mentor, working with them to set goals and create accountability. Peer feedback will also play a critical role, with team members providing feedback, not just mentors and instructors.

About Fidelity Investments

Fidelity's goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.1 trillion, including managed assets of $2.0 trillion as of August 31, 2015, we focus on meeting the unique needs of a diverse set of customers: helping more than 24 million people invest their own life savings, nearly 20,000 businesses manage employee benefit programs, as well as providing nearly 10,000 advisory firms with technology solutions to invest their own clients’ money. Privately held for nearly 70 years, Fidelity employs 42,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit

About The Ensemble Practice LLC

The Ensemble Practice LLC is a premier business consulting firm for the financial advisory industry. It is committed to helping independent financial advisors create multi-professional ensemble firms with strong organic growth and sustainable profitability. The Ensemble Practice works with the top wealth management firms in the country through individual engagements and innovative programs. The firm is founded and led by Philip Palaveev, a highly regarded industry expert, thought leader and author of the book "The Ensemble Practice." For more information, visit

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