Palaveev Moves On

Industry consultant to head up Fusion Advisor Network

Elmsford, New York-based Fusion Advisor Network announced on May 12 that Philip Palaveev has joined as president and a shareholder in the firm. Based in Seattle, Palaveev will open and operate the firm's first West Coast office, overseeing practice management and helping it expand into the Registered Investment Advisory (RIA) area, with "recruiting financial advisors" as one of his first tasks. Specializing in consulting with broker/dealers, insurance companies, and investment advisors, Palaveev has participated in over 200 consulting engagements, and was chosen as one of Investment Advisor's "IA 25" for 2008.

"Fusion's growth is due to its successful bundling of business management assistance and negotiation with key industry service providers," said Palaveev, in a statement announcing his new position. "That is the future of successful industry affiliation models--integrating strategic planning with execution assistance to dramatically improve the advisory practice."

Most recently, Palaveev was a principal with Moss Adams LLP where he led market research for the firm. He is the second leading industry consultant to leave the firm in the past year--last fall Mark Tibergien resigned to join Pershing LLC.

Founder Stuart Silverman will continue to serve as CEO for Fusion, which has more than 200 advisors who manage over $7 billion in assets.

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