Fidelity Clearing & Custody and The Ensemble Practice are creating the G2 Leadership Institute to help develop the next generation of leaders in the financial advisory industry, the two firms announced Monday.
The institute is designed to take a different approach to leadership training by offering real world simulations for advisors’ training. The Ensemble Practice is a business consulting firm for the financial industry.
“In recent focus groups of young, successful advisors, Fidelity identified training and experience-building as imperative to the success of the next generation of talent,” the company says. “The G2 Leadership Institute will immerse participants in real-world simulations faced by advisory firm leaders, such as buying another firm and defining a business strategy.”
The institute, which will launch in January 2016, is now enrolling its first class.
“For smaller businesses, it can be risky to offer real-world experience on high-stakes decisions,” says Bob Oros, executive vice president and head of the RIA segment at Fidelity Clearing & Custody. “This program will allow tomorrow’s leaders to go beyond knowing about the latest trends and scenarios to actually experiencing what it’s like to manage through them.”
The institute will be led by Tim Kochis, former CEO of Aspirant; Sam Allred, founder and CEO of Upstream Academy; and Dr. Susan Duvall-Dickson, COO of Private Ocean Wealth Management.
The institute will accept 50 participants with 10 teams of five comprising each simulated firm. The two-year program will incorporate one business simulation topic per month. Participants will remain at their jobs while in the institute.