Partnership aims to produce better benchmarking data for advisers

Jan 23, 2013 @ 4:05 pm

By Liz Skinner

InvestmentNews is teaming with adviser consultant Philip Palaveev to create better industry benchmarking research for advisers looking to expand their businesses.

Mr. Palaveev's The Ensemble Practice LLC and InvestmentNews' research team will work together on the 2013 InvestmentNews/Moss Adams Adviser Compensation and Staffing Study and a second study on the financial performance of advisory firms.

The partners plan to make the compensation survey easier for advisers to complete, and they want to create a digital tool to make it easier to extract useful data. The goal is to provide advisers with information to make their firms more efficient and increase profitability, said Suzanne Siracuse, publisher of InvestmentNews.

“This is the next step in the evolution of practice management resources and management decision making in financial advice,” Ms. Siracuse said.

Mr. Palaveev, chief executive of Ensemble, was formerly a principal at Moss Adams LLP, where the compensation and staffing survey began in 2001. More recently, he was president of Fusion Advisor Network through September 2012 when he started Ensemble, a business management consulting firm.

"We believe that the future leaders of the industry need the right information to continue guiding their businesses to success, and see it as our mission to supply that information to the industry," Mr. Palaveev said.

During the second quarter, advisers will be asked to complete the 2013 compensation survey, which is sponsored by Pershing LLC and will be focused on solo practitioners, midsize firms and the largest advisory firms.

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