Sustainable Practice Success, Part 2: Organic Business Development

The Rainmaker Multiplier On-Demand Podcast

Sustainable Practice Success, Part 2: Organic Business Development

In This Episode

About the episode:

Join trailblazing figures in the financial services industry, including Jason L Smith, CEP, BPC, and the Founder/CEO of C2P and JL Smith, and Philip Palaveev, CEO of The Ensemble Practice and G2 Leadership Institute, to finish their chat on the best financial advisory firm practices for sustainable success.

Through their discussion, you’ll learn how both the Ensemble Practice model created by Palaveev and its concepts that inspired Smith’s Advisor Career Path & Compensation model still hold true today. These programs serve as transformative tools for advisors to attract, reward, and retain top-tier talent and sustain growth.

In this illuminating episode, Smith and Palaveev discuss the crucial aspects of a thriving practice, including:

  • Client relationships: The importance of relationship building to generate a solid reputation and in turn, future referrals and opportunities.
  • Role specialization: how the roles in your firm should be structured to support your advisors and the firm’s growth
  • Client service: how quality service naturally generates a referral source, and how a lack of this can indicate a problem with internal processes.
  • And more!

Discover why investing in your future leaders is essential for long-term prosperity in the financial services industry and how programs like the Advisor Career Path and Compensation model can help you get there. Tune in to learn valuable insights on equity sharing, motivating your team, and creating a culture of excellence.


Episode Resources:

Sustainable Practice Success, Part 1: Career Path & Compensation Models

About the guest:

Philip Palaveev, a renowned industry expert and consultant, focuses on fostering team-based financial advisory businesses for sustained growth and profitability. As CEO of The Ensemble Practice LLC, he leads a pioneering consulting firm that empowers independent financial advisors to transform solo practices into thriving ensemble firms, collaborating with broker-dealers and custodians to develop impactful practice management solutions.

Before founding The Ensemble Practice, Philip served as the president of Fusion Advisor Network, redefining how broker-dealers deliver business management support. During his tenure, Fusion Advisor Network transformed from a startup into an industry-leading entity. From 2003 to 2008, Philip played a pivotal role as a principal at Moss Adams LLP, a leading accounting and consulting firm specializing in practice management. He’s also an accomplished author with two influential books: “The Ensemble Practice,” focusing on building multi-professional enterprises, and “G2: Building the Next Generation,” dedicated to future leaders in advisory firms.