Money Management is now accepting submissions for the revamped Financial Planner of the Year Awards.
The two main awards – Financial Planner of the Year and Rising Star of the Year – will be chosen from the overall pool of entries for individual categories. This year, the initial entry process for those categories is much simpler: candidates must submit the client reports they believe best showcase their efforts in a specific area of financial planning.
Along with their entry, entrants will be allowed to provide up to 300 words to support their submission. Below, we provide a brief outline of what our judges are looking for. Full details can be found at www.mmawards.co.uk.
All investment categories
Describe and demonstrate how the recommended asset allocation meets the client’s income or capital needs.
Alternative assets planner of the year
1. Demonstrate and explain how the alternative assets are selected, and how they fit in, from a suitability perspective, to clients’ attitude to risk and risk tolerance.
2. Explain the tax implications of the alternative investments you have recommended.
At-retirement planner of the year
1. Explain how the structure of the pensions and all the client’s other assets works best, detailing tax implications and other risks.
Investment planner of the year
1. Explain how the structure of the investments and charges works best for the client.
2. Explain why these options have been chosen ahead of other possibilities.
Mortgages planner of the year
1. Explain the different mortgage options available to the client and include a brief explanation why each are/are not suitable.
2. Explain and analyse the client’s ability to maintain their mortgage payments in the event of long-term illness or disability.
3. Explain what happens to the mortgage if a client dies, and the steps needed to transfer assets to their beneficiaries.
Multi-asset planner of the year
Explain how the structure of the funds works better for your client than other investment options.
IHT planner of the year
1. Explain what happens if a client dies, and the steps needed to transfer assets to beneficiaries.
2. Outline the net worth and IHT bill should the client die today.
3. Explain the detail and implications of the Budget changes regarding IHT residence allowance.
Philanthropy planner of the year
1. Demonstrate how a client’s assets can meet their objectives while simultaneously incorporating a philanthropic element.
2. Explain the motivations and options available to give money away, and the tax implications of giving it to various classes of beneficiary, for example children, grandchildren, charities or other parties.
Protection planner of the year
1. Demonstrate the income and capital that would be generated from the client’s existing assets during the analysis of their protection needs in the event of death or long-term disability.
2. Explain how the assets are preserved and serve to help in the event of long-term care.
