Financial Planner of the Year 2010: Catherine Robson

Unrelenting professionalism and a firm commitment to training and education made Catherine Robson the clear winner of this year's Money Management Financial Planner of the Year award. Angela Faherty reports.

A commitment to providing value and an undeniable dedication to professionalism and education in the financial planning industry have seen Catherine Robson crowned the 2010 Money Management Financial Planner of the Year.

Hailed by this year’s judges as the clear winner, Robson’s stellar entry saw her commended for her strong leadership skills and understanding of the financial planning sector.

“Catherine shows strong leadership both in her business and in the community and is committed to raising the standards in financial planning. She is a deserved winner of this award,” says Julie Berry, chair of the Financial Planning Association (FPA) and one of the judges.

It was Robson’s commitment to education and improving her skills that impressed the judges. Robson has been heavily involved in training and mentoring at NAB Private Wealth, where she works as a senior wealth adviser, and is a staunch advocate for professionalism in the industry.

“Years ago I made a decision to be a fee-for-service adviser, eschewing investment commissions, knowing that a genuine belief in your recommendation was essential to convincing a client,” she says.

“However, there remained a lingering disquiet about the potential link between advice and increased funds under management, or insurance commission. Upon return from maternity leave two years ago, I wanted to dispel this concern for good,” she adds.

Despite eight years of solid business growth, on her return to work Robson found the business practice was not achieving the standards of excellence and enjoyment that she felt could justify her absence from her young family five days a week. It was at this point that she sought the help of MLC Advice Solutions.

“The result has been an amazing journey, which has revolutionised our business,” Robson says.

The firm is now strictly fee for advice, rebating commissions from all sources including insurance, debt and investment products.

Robson has also successfully pioneered the firm’s move to fixed annual flat dollar fees, a move that led to an increase in ongoing practice revenue of 40 per cent in 2009.

“I have never been more proud to be a financial adviser, or more convinced of the genuine need that clients have for our service,” Robson says.

“The quality of our advice has never been better, with huge improvements in efficiency, productivity and consistency of delivery.”

The judges were particularly impressed with Robson’s dedication to the development of her staff.

“Catherine demonstrates not only a commitment to providing value to her clients, but a strong commitment to professionalism and the development of her staff. She has taken the time to find out what clients truly value and then gone about redefining her business so that she can meet these needs,” Berry says.

Last year’s winner and fellow judge, Anne Graham, agreed that Robson’s dedication to education and the development of her staff was second to none.

“Catherine’s commitment to education and improving her technical skills is outstanding. She has also demonstrated the importance of having a great team, which she has nurtured and empowered.

"It’s evident that Catherine is dedicated to ensuring her clients’ interests come first and that they receive valuable and timely ongoing advice.”

Robson herself says the most meaningful contribution she has made to the financial services industry has been the training and mentoring of the staff with whom she has worked over the 13 years of her career.

“I have long been a passionate believer in the value of advice and putting client interests at the forefront of everything we do.

"Ingraining this in every member of the team has had a ripple effect, with excellent financial planners graduating from our team to go on to participate in the industry in a myriad of different ways,” she says.

While Robson says she feels proud to see former colleagues moving on and implementing what they have learnt in their own or other businesses, she is also particularly proud of her achievements within the community.

“I have had the privilege to participate in NAB’s volunteer program for over 10 years,” she says.

“With the allocation of two volunteer days each year to all staff, I have used this as a team building activity, and over time we have used rescued food to cook for the homeless, built fences for farmers affected by the Victorian bushfires and man phones to collect funds for the Asian tsunami.”

In her application, Robson said she wanted to win the award to demonstrate that it was possible to build a profitable advice business that delivers ongoing value to its clients with integrity.

"I would like to be the start of the next wave of advisers who take professionalism in the financial advice industry to the next level,” she says.

“I want to be a leader of an industry characterised by relationships of trust and clients whose lives are enhanced by the interaction they have with their adviser.

"It is my fervent hope that as each of us within the financial planning community work together to send the message about the value of advice, this will cumulatively bring positive developments in the industry and in the minds of our clients.”