{"product_id":"g2-building-the-next-generation-isbn-9781119370062","title":"G2: Building the Next Generation","description":"\u003cp\u003e\u003cb\u003eVital guidance to ensuring the future of your firm\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eG2: Building the Next Generation\u003c\/i\u003e provides financial advisory firms with a clear roadmap to management succession. Based on the author's 17 years of experience with over 1,000 firms, this book provides a systematic process to help you identify, develop, and install the new leadership that will guide your firm's future. Extensive statistical research backs proven strategies for structuring management and succession, overcoming obstacles, selling equity, and more, while expert guidance walks you through the process and warn you of potential pitfalls along the way.\u003c\/p\u003e \u003cp\u003eA generation of entrepreneurs used their talent and ambition to build an industry; to ensure that their success lives on, those leaders now face the formidable challenge of succession. With the future of your firm at stake, how do you recruit, train, mentor, and develop the next generation of professionals, owners, and leaders? This book shows you how to find the people you need, and develop them into the leadership your firm deserves.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eIdentify and develop future leaders from the pool of existing and upcoming talent\u003c\/li\u003e \u003cli\u003eStructure management and management succession to ensure successful transition\u003c\/li\u003e \u003cli\u003eBegin selling equity to your firm's next generation of leaders\u003c\/li\u003e \u003c\/ul\u003e \u003cul\u003e \u003cli\u003eLearn smart strategies for dealing with setbacks along the way\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe next generation of leaders will shape the future of your firm, but collectively, they will define the future of the \u003ci\u003eentire advisory industry\u003c\/i\u003e. Firms who succeed in developing their best talent will continue to thrive—those who fail will be left with a great car, but no driver. Getting this right may be one of the most critical points of your career, and it isn't something that should be left to chance or \"gut feeling\". \u003ci\u003eG2: Building the Next Generation\u003c\/i\u003e gives you a solid, grounded, systematic approach for ensuring your firm's long-lived success.\u003c\/p\u003e \u003cp\u003ePreface\u003c\/p\u003e \u003cp\u003eAcknowledgments\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Who Are G2?\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining G2\u003c\/p\u003e \u003cp\u003eDeveloping the Next Generation Is Critical\u003c\/p\u003e \u003cp\u003eJust Hiring Them Is Not Enough (But Start There)\u003c\/p\u003e \u003cp\u003eWhat G2 Professionals Need\u003c\/p\u003e \u003cp\u003eG2 Needs to Take Over Client Relationships\u003c\/p\u003e \u003cp\u003eG2 Are the Future\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 The Career Track\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Advisory Career Track\u003c\/p\u003e \u003cp\u003eNon-Client-Facing Career Tracks\u003c\/p\u003e \u003cp\u003eProgressing through the Career Track\u003c\/p\u003e \u003cp\u003eBeing Flat\u003c\/p\u003e \u003cp\u003eTop Performers\u003c\/p\u003e \u003cp\u003eReaching the End of the Track\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Recruiting G2\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBeginning with the End in Mind\u003c\/p\u003e \u003cp\u003eHiring Levels\u003c\/p\u003e \u003cp\u003eBecoming the Employer of Choice\u003c\/p\u003e \u003cp\u003eAdvertising\u003c\/p\u003e \u003cp\u003eRecruiting in Small Markets\u003c\/p\u003e \u003cp\u003eScreening\u003c\/p\u003e \u003cp\u003eInterviewing\u003c\/p\u003e \u003cp\u003eOpportunistic Hiring\u003c\/p\u003e \u003cp\u003eExperienced Hires\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Taking Over Client Relationships\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is a Lead Advisor?\u003c\/p\u003e \u003cp\u003eQualities of a Trusted Advisor\u003c\/p\u003e \u003cp\u003eTransitioning the Lead to G2\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 How Advisory Firms Develop New Business\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Business Development Process\u003c\/p\u003e \u003cp\u003eWhen and How Clients Act\u003c\/p\u003e \u003cp\u003eExisting Clients as a Referral Source\u003c\/p\u003e \u003cp\u003eSome Theories about Referrals\u003c\/p\u003e \u003cp\u003eOther Referral Sources\u003c\/p\u003e \u003cp\u003eBeyond Referrals\u003c\/p\u003e \u003cp\u003eThe Simple Mathematics of Reputation-Based Selling\u003c\/p\u003e \u003cp\u003ePrinciples of Business Development\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Be a Business Developer\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Four Stages of Learning to Develop New Business\u003c\/p\u003e \u003cp\u003eSolving a Puzzle\u003c\/p\u003e \u003cp\u003eFinding Your Mentor\u003c\/p\u003e \u003cp\u003eLearning to Ask Questions and Listen\u003c\/p\u003e \u003cp\u003eFinding Your Specialty\u003c\/p\u003e \u003cp\u003eDeveloping a Niche\u003c\/p\u003e \u003cp\u003eFollowing a Disciplined Process\u003c\/p\u003e \u003cp\u003eBe Persistent\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Managing People\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining Management\u003c\/p\u003e \u003cp\u003ePrioritizing Management and Communication\u003c\/p\u003e \u003cp\u003eAccepting Responsibility\u003c\/p\u003e \u003cp\u003eProviding Feedback\u003c\/p\u003e \u003cp\u003eDealing with Poorly Performing Team Members\u003c\/p\u003e \u003cp\u003ePerformance Evaluations\u003c\/p\u003e \u003cp\u003eBeing a Mentor\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Managing Up\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSpeaking Up\u003c\/p\u003e \u003cp\u003eGetting Involved\u003c\/p\u003e \u003cp\u003eTaking Responsibility for Your Team\u003c\/p\u003e \u003cp\u003eSupporting Your Colleagues\u003c\/p\u003e \u003cp\u003eMeasuring Your Criticism\u003c\/p\u003e \u003cp\u003eManaging Your Own Expectations\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Managing Yourself\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining Balance of Life\u003c\/p\u003e \u003cp\u003eBalancing Time\u003c\/p\u003e \u003cp\u003eDealing with Weaknesses\u003c\/p\u003e \u003cp\u003eThoughtful Communication\u003c\/p\u003e \u003cp\u003eOn the Value of Conflict\u003c\/p\u003e \u003cp\u003eLooking at Your Own Plate\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Owner, Manager, and Leader\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining Owner, Manager, and Leader\u003c\/p\u003e \u003cp\u003eManagement\u003c\/p\u003e \u003cp\u003eLeadership\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Adding Owners: The Firm Perspective\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCriteria for Ownership\/Partnership\u003c\/p\u003e \u003cp\u003eAdmission Process\u003c\/p\u003e \u003cp\u003eAdding Family Members as Partners\u003c\/p\u003e \u003cp\u003eLaying the Foundation for New Partners\u003c\/p\u003e \u003cp\u003eTackling Buy-In Financing and Valuation\u003c\/p\u003e \u003cp\u003eOnboarding Partners\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Buying Equity: The G2 Perspective\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Does It Mean to Be an Owner?\u003c\/p\u003e \u003cp\u003eKey Questions to Ask\u003c\/p\u003e \u003cp\u003eShould You Buy Equity?\u003c\/p\u003e \u003cp\u003eThe Characteristics of Equity\u003c\/p\u003e \u003cp\u003eUnderstanding Your Ownership Agreement\u003c\/p\u003e \u003cp\u003eSmall Firms and Family Firms\u003c\/p\u003e \u003cp\u003eOwner Compensation\u003c\/p\u003e \u003cp\u003eWhat If the Ownership Agreement Isn’t Right for You\u003c\/p\u003e \u003cp\u003eUnderstanding the Valuation and the Price\u003c\/p\u003e \u003cp\u003eOrganizing Your Personal Finances\u003c\/p\u003e \u003cp\u003eBeyond the First Purchase\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 The Ownership and Governance Foundation for G2\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCareer Investment\u003c\/p\u003e \u003cp\u003eStability and Governance\u003c\/p\u003e \u003cp\u003eElements of Governance\u003c\/p\u003e \u003cp\u003eGovernance as a Function of Size\u003c\/p\u003e \u003cp\u003eReviewing Your Governance Model\u003c\/p\u003e \u003cp\u003eAchieving Results\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Succession\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDifferent Aspects of Succession\u003c\/p\u003e \u003cp\u003eInternal Succession of Ownership\u003c\/p\u003e \u003cp\u003eFinding the Motivation\u003c\/p\u003e \u003cp\u003eThe Big Transaction\u003c\/p\u003e \u003cp\u003eA Large Number of Small Transactions\u003c\/p\u003e \u003cp\u003ePassive Ownership\u003c\/p\u003e \u003cp\u003eThe Intermittent Transaction\u003c\/p\u003e \u003cp\u003eEquity-Based Compensation\u003c\/p\u003e \u003cp\u003eProfits Interest Options\u003c\/p\u003e \u003cp\u003eNonvoting Shares\u003c\/p\u003e \u003cp\u003eSynthetic Equity\u003c\/p\u003e \u003cp\u003eMergers Facilitating Succession\u003c\/p\u003e \u003cp\u003eCreating a Permanent Firm\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Keeping Up with the Industry\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBeing a Student of the Industry\u003c\/p\u003e \u003cp\u003eDeveloping Your Industry Connections\u003c\/p\u003e \u003cp\u003eBenchmarking Your Client Services\u003c\/p\u003e \u003cp\u003eLearning Best Practices\u003c\/p\u003e \u003cp\u003eParticipating in External Training\u003c\/p\u003e \u003cp\u003eContributing to the Industry\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Conclusion\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFrom G2 to G3\u003c\/p\u003e \u003cp\u003eA Note of Optimism\u003c\/p\u003e \u003cp\u003eBibliography\u003c\/p\u003e \u003cp\u003eAbout the Author\u003c\/p\u003e \u003cp\u003eIndex\u003c\/p\u003e   \u003cp\u003e\u003cb\u003ePHILIP PALAVEEV\u003c\/b\u003e is the founder and CEO of The Ensemble Practice, LLC, and a recognized expert on the management of financial advisory firms and teams. Palaveev also is a business owner who speaks from the perspective of having built and managed successful businesses. He is the author of \u003ci\u003eThe Ensemble Practice\u003c\/i\u003e.     \u003c\/p\u003e\u003cp\u003eThe future of the financial services industry is in the hands of a talented and ambitious group of young professionals—G2, the next generation. Whether you pick up this book as a founder of an advisory firm or a professional looking to further your career, you have probably recognized that your future success relies on the ability of your firm to develop the leadership and management skills of its best people. \u003ci\u003eG2: Building the Next Generation\u003c\/i\u003e is a comprehensive guide on how to accelerate the careers of future leaders of advisory firms and teams.  \u003c\/p\u003e\u003cp\u003ePhilip Palaveev uses his personal experience and his work with hundreds of CEOs and G2 leaders to propose a method for improving the ability of professionals to lead client relationships, manage their teams and establish themselves as highly productive owners in their firms. The next generation is already here and it is already reshaping the industry. This book, meant for both founders and G2 professionals, will guide you in the transformation of your firm and your career.  \u003c\/p\u003e\u003cp\u003eThis insightful and practical resource will guide firms and professionals on how to:  \u003c\/p\u003e\u003cul\u003e \u003cli\u003eEstablish next generation (G2) professionals as lead advisors who are trusted and relied upon by the client\u003c\/li\u003e \u003cli\u003eImprove the business development skills of all advisors\u003c\/li\u003e \u003cli\u003eTrain G2s to be managers of their teams and lead vital functions of the firm\u003c\/li\u003e \u003cli\u003eTransform G2 into better owners and true \"partners\" in the firm\u003c\/li\u003e \u003c\/ul\u003e  \u003cp\u003e\u003ci\u003eG2: Building the Next Generation\u003c\/i\u003e is your guide for the continued and sustained success of your firm.     \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePRAISE FOR G2: BUILDING THE NEXT GENERATION\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003e\"In his book, \u003ci\u003eG2: Building the Next Generation,\u003c\/i\u003e Philip Palaveev has done an excellent job addressing a critical element of a wealth management firm's success beyond its founders. As our industry runs into a succession crisis, it's necessary to hire, nurture, and retain experienced talent to serve our clients' future generations. As our firm has experienced, an RIA needs to plan well in advance and take into consideration all the components outlined in this book. And to be a successful next-gen professional, or G2 as Palaveev calls them, there are important things to think about as one develops his or her career. Palaveev covers the spectrum — from recruiting to managing to growing the business. He offers critical insight into the technical aspects of equity structure, ownership and governance, and succession.\"\u003cbr\u003e \u003cb\u003e—Rob Francais,\u003c\/b\u003e CEO, Aspiriant LLC  \u003c\/p\u003e\u003cp\u003e\"Philip Palaveev has decanted the wisdom, experience and learned best practices of the professional firms of all kinds into a 'how to' book for generational transition. He has expertly and practically explained the critical components of G2 development and transition. While this is focused on wealth management firms, any professional service firm could benefit from the lessons this book teaches.\"\u003cbr\u003e \u003cb\u003e—Bob Bunting,\u003c\/b\u003e Former CEO, Moss Adams LLP  \u003c\/p\u003e\u003cp\u003e\"Philip Palaveev's new work is a mission critical playbook for founders and G2 of financial advisory firms. He expertly bridges the gap between identifying the necessity of having a next generation of leaders and the practical implementation of developing them within an organization. Armed with industry data, research and years of hands on experience, he encourages founders to trust what they have built and inspires G2 to be worthy of that trust. Developing leaders takes time, energy, effort and commitment on everyone's part; however, there is no better application of those valuable resources than growth of our people, growth of our firms and growth of our industry. This book is a manifesto on how to achieve all three.\"\u003cbr\u003e \u003cb\u003e—Heather Robertson Fortner,\u003c\/b\u003e Signature FD, Partner, Chief Compliance Officer  and Chief Operating Officer and G2 Leader\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989269430501,"sku":"NP9781119370062","price":63.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119370062.jpg?v=1761783454","url":"https:\/\/k12savings.com\/es\/products\/g2-building-the-next-generation-isbn-9781119370062","provider":"K12savings","version":"1.0","type":"link"}