How we chose the Financial Planner of the Year
Each year, the number of applicationsMoney Managementreceives for one of the industry’s most prestigious awards increases. And this year was no exception.
Nominations were received from financial planners across the country — Victoria and NSW were well-represented — but this year we also received a record number of nominations from Western Australia and from planners as far afield as Mackay in Queensland and Port Augusta in South Australia, as well as interest from New Zealand.
Once again, the quality of entrants was impressive. A number of previous finalists nominated again, and all were recognised for their contributions to the industry, particularly during the transition phase to the new Financial Services Reform Act (FSRA).
As in last year’s Financial Planner of the Year awards, five judges worked their way through the various nominations to first deliver a short-list of finalists and then determine the ultimate winner.
Our judges this year were: Chris McMillan, manager, education services at theFinancial Planning Association; Jim Stackpool, the managing director of Strategic Consulting and Training; Gwen Fletcher, industry pioneer and 16-year veteran of the Financial Planner of the Year judging process; Robert Kiddell last year’s winner of the Financial Planner of the Year title; and Julie Bennett, the managing editor, Financial Services, Reed Business Information.
The judging criteria was exacting and consistent with previous years.
The criteria is specifically designed to look at a planner’s achievements across three highly relevant categories.
The first category, career achievement, is marked out of 40.
Career achievement covers those areas concerned with education, career, practice development, management and career highlights, with the judges asked to consider the types and levels of achievement gained.
The second category deals with input to the profession and was also marked out of 40.
This category covered planner contributions to the planning industry through involvement with industry associations and bodies, as well as enhancing consumers’ knowledge of planning through methods such as use of the media and pro bono work.
The final category, community involvement, is scored out of 20. While the winner of the award is based primarily on the first two categories,Money Managementconsiders the third to be of significance.
Part of being a successful and professional adviser or businessperson is about what is given back to the community and an acknowledgement of the world beyond the office.
Contributions to the community include efforts such as charity work, support for and involvement in community programs and involvement in worthwhile causes outside financial planning.
Based on the planner’s written submissions, each of the five judges allocated points in each of the categories to arrive at an overall mark out of 100.
The scores were then tallied at the offices ofMoney Management.
Money Managementextends its thanks to the judges, finalists, and all entrants for taking the time to make this field one of the most impressive yet.
AUTHOR
Mike Taylor
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