In this episode of The Trusted Adviser podcast, Rob Pyne sits down with Philip Palaveev, CEO of The Ensemble Practice, to explore how leadership in advisory firms must evolve—from founder-led solo acts to collaborative, team-based enterprises. Philip draws on decades of experience consulting with top-performing firms to share vivid metaphors, practical insights, and lived experience on generational transition, leadership development, trust, succession, and the difference between ownership and influence.
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Topics discussed
- Leadership as a backpack: the weight, responsibility, and privilege of leading others
- Transitioning from founder-led to team-based advice models
- Why advice is no longer a solo act
- The challenge of letting go: trust, delegation, and relinquishing control
- Herzberg’s motivator-hygiene theory applied to advisory firm culture
- How to embed vision and purpose in a firm’s DNA
- Building trust through deposits — the trust bank account analogy
- The importance of recognising cultural leaders vs formal titles
- Ownership vs leadership vs management — and why they must be decoupled
- Why succession planning fails and how to make it work
- What G2 leaders really want: painting vs preserving the masterpiece
- Advice for aspiring leaders: Don’t wait for permission
Show notes and transcript
For the full show notes and transcript from this episode, head to the episode page on The Trusted Adviser Website here.