Philip Palaveev hangs out his shingle with a new consulting model for RIAs and a money-back guarantee

Best of success to this new company. Getting FAs away from their office and sharing information is a key to their growth. That’s why masterminds or peer coaching groups have long been very successful.

While there are canned coaching programs, I’ve seen canned management consulting programs, too. Over time, you see what works, and offer it as a program. But for most coaches, that’s just part of what we offer customers.

But like advisors, a few portfolio types are helpful to your ideal clients, as long as they also contain some flexibility. Flexibility is the key whether a management consulting program, coaching program, or business advising program. Why? Because we’re in business to help our customers.

What works best in a situation is what will help the customer the best. Coaching works. Management Consulting works. As do other modalities. But it all works the best when the customers are informed, motivated and willing to make changes.

No question Philip Palaveev will have great success with this venture. It goes without saying the ensemble model drives significant growth if properly executed by aligned principals. Having compatible partners and a program such as this or a way to instill discipline and accountability are key ingredients.

On paper, this approach seems highly viable, but in practice it remains difficult to execute. This is just one reason we continue to see independent, solo advisors seeking support structures where they can access expanded services, an accountability mechanism by working with other experts and the peace of mind of knowing they simply don’t have to go at it along.