Strategy
G2 Leadership Institute To Be Launched Soon For Young Advisors
Fidelity has spent two years working with The Ensemble Practice to establish the program aimed at cultivating next-generation leaders in the independent space.
A new training program in the shape of the G2 Leadership Institute is opening soon to help develop young advisors recognize and respond to the forces shaping the independent investment advice space today and in the future.
The institute, structured as a two-year program, has been created by Fidelity Clearing & Custody and The Ensemble Practice to immerse budding talent in simulations that represent challenges faced by advisory firm leaders, such as buying another firm and defining a business strategy.
It will launch in January and take on 50 participants, with 10 teams of five making up each simulated “firm.”
The move comes amid concerns industry-wide over an aging advisor workforce and potential talent crisis - issues which Family Wealth Report recently explored in a feature here.
“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 at 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.”
“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.”
A group of industry professionals will serve as instructors and mentors at the institute, 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.
