The Ensemble Practice, an industry consulting firm launched by former Fusion Advisor Network President Philip Palaveev, has created a scholarship for its leadership training program in an effort to improve minority representation in the industry.
“There are so many talented people from underrepresented groups who could be contributing to the future of the advisory industry and who deserve the opportunity to take the stage and become leaders in their firms,” said Palaveev, CEO of The Ensemble Practice.
“Providing advisors from underrepresented communities with a path to leadership will not only help our industry, it will allow firms to tap into new opportunities, better serve their clients and broaden the positive impact they strive to have on their communities,” added Palaveev. “It will also create a generation of leaders whose advocacy will attract more diverse future advisors, changing the DNA of their firms and, ultimately, the makeup of the industry.”
The firm will award two scholarships a year to individuals going into its G2 Leadership Institute, its two-year training program for future leaders of advisory firms. The scholarships will cover the entire program fee of $12,000, as well as the cost of stay for four in-person sessions. Candidates can apply on The Ensemble Practice’s website by submitting a one-page essay, in addition to the standard program application. The two recipients will be chosen by a panel of four business owners “who themselves stand for diversity and have helped create great businesses,” the website says.
The awards recipients will be announced on Sept. 30, 2020.
The G2 Leadership Institute, which takes participants through realistic business simulations, was created six years ago, and has since brought together 218 professionals from 126 firms.
