AFA and Zurich revamp Adviser Award
The Association of Financial Advisers (AFA) and award partner Zurich have announced the best individual adviser and best advice practice will now be separately recognised in the adviser of the year award program.
The changing financial advisory landscape and the evolution of new business models had prompted a review of the existing award methodology, which led to the inaugural advice practice of the year award being launched, AFA chief executive Brad Fox said.
The award program will now assess and acknowledge the best individual adviser and the best advice practice as separate awards to recognise the changed dynamic in advice practices since the original adviser of the year award was established by the AFA and Zurich in 2003.
"One of the big changes we have seen in recent years is the growth in new business models, with the principals of many successful and innovative advice practices no longer being client facing advisers themselves," Fox said.
"At the same time, practice consolidation has seen an increase in specialist advisers who perhaps don't own part of the practice and aren't so much focussed on the growth and day-to-day running of their practice overall."
Both awards will be judged by the same panel, comprising Brad Fox and Michael Nowak from the AFA, Rebecca Sheils (Beddoes Institute), Graham Peatey (Encore Group), Peter Sobels (Riskinfo) and Kristine Wade and Andy Marshall from Zurich.
Award applications open 9 June 2014 and close 8 August 2014 with the winners announced at the AFA National Conference, in Cairns 11—14 October, 2014.
More information, including application forms, can be found at www.adviseroftheyear.com.au
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
