Is receiving an award in financial services really worth the time and effort?
Uniq Family Wealth has won a glut of awards in 2018. This year we won UK Best Client Engagement with Professional Adviser, then we were commended as Best Retirement Adviser in the Moneyfacts awards, followed by me as a finalist in the Chartered Institute for Securities and Investments, CFP Professional of the Year award for 2018.
We recently learnt we had come first in Best Use of a Tax Product in Financial Planning in the Tax Efficiency awards. On top of that, we have been shortlisted for Adviser of the Year and Paraplanner of the Year in the 2019 Professional Adviser awards.
Why, then, do we go to the trouble to gain these awards?
Admittedly, they do take time, but I think it is worth it not just for the reputation it adds to our company, but because it gives clients a good feeling that the planning practice they have chosen has been endorsed in this way. It also helps with recruitment to know we have credibility and performance.
Some of the entries provide case studies that demand solutions; others rely on the case study problem and results that have been delivered. All require demonstrating our level of skill, and are not just based on turnover or assets under advice.
We feel justified in being proud of our achievements and proudly display our awards.
What has marred all this somewhat is the request to show off our wins and the requirement to purchase logos to go on marketing material and email signature at some costly price.
It almost feels that in doing so you have bought the award. Not everyone does this, and many will provide the logo free of charge. After all, if we use them, then we are advertising their company or magazine too.
Don’t let this put you off though, because if you have had to demonstrate skills and knowledge and you win or are placed, then it is worthwhile for the reasons I have already stated.
But remember, you have to be in it, to win it.
Marlene Outrim is managing director of Uniq Family Wealth