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FPI Professional Practice of the Year finalists. And then there were 3…

23 October 2020 Financial Planning Institute of Southern Africa NPC (FPI)

Chartered Wealth, BDO Wealth Advisers and Crue Invest have all shown that they go the extra mile for both their clients and the wider financial planning profession. But there can be only one winner. Who will it be?

The FPI Professional Practice of the Year award was launched this year to highlight the fact that successful financial planning is always a team effort, says FPI CEO and head adjudicator Lelané Bezuidenhout. And boy has it paid off. “This year’s shortlist acknowledges the sustained stellar performances of all three financial planning practices that made it to the finals,” says Bezuidenhout.

Read on to find out more about how these three FPI Approved Professional Practices TM have demonstrated what Bezuidenhout terms “innovation, professionalism and commitment to both the public and the profession.”

WHAT HAVE THEY LEARNT?

“Talking about your business is very different from demonstrating and showing what you deliver…Especially when this is applied across multiple offices. The adjudication process highlighted the areas where we could improve, but it also left us with a greater appreciation for the depth of resources, range of skills and experience we have in our team.”

Ricardo Teixeira, CFP®: Chief Operating Officer, BDO Wealth Advisers

“One of the most profound pieces of feedback from the interviewers was that we should take more credit for the culture that we’ve created. We are blessed with a team of professionals who have sincere mutual respect for one another and who genuinely enjoy working together. And we believe that our clients see and appreciate this.”

Adv. Sue Torr: Managing Director, Crue Invest

The competition process has taught us the importance of taking the time to work on our business and not just in it. As we have learnt this year, the world is changing at a rapid pace, and we all need to be agile and adapt. This means doing regular audits to check that our strategy is still relevant.”

Caroline Adams, CFP®: Director, Chartered Wealth

WHY DID THEY ENTER?

“At Chartered Wealth, we have created a culture of learning and innovation, always looking at how we can add value to our advice process and client experience. As we follow a “best practice” approach, it is essential to benchmark ourselves against our peers to ensure we maintain these high standards.”

Caroline Adams, CFP®: Director, Chartered Wealth

“Quality standards and professionalism have always been important for us at BDO Wealth Advisers. We were early adopters of the FPI Approved Professional Practice TM accreditation, a decision which has led us on a journey of continual improvement and enhancement. We saw this award as an opportunity to gain vital insight into how we stack up against the best in the country.”

Ricardo Teixeira, CFP®: Chief Operating Officer, BDO Wealth Advisers

“At Crue Invest, one of our key drivers has always been to promote and enhance financial planning as a profession. We have been an FPI Approved Professional Practice™ for a number of years and believe strongly in the benefit that this accreditation brings, both to us as a practice and to the image of financial planning as a profession. We continually challenge ourselves to improve and enrich our client offering, and this competition created an opportunity for us to examine our practice and augment our offering.”

Adv. Sue Torr: Managing Director, Crue Invest

The winner of the FPI Professional Practice of the Year award will be announced on the 27th of October. Contact the FPI at [email protected] for more information or to connect with the shortlisted candidates.

 

Quick Polls

QUESTION

Which of the following business models do you favour to achieve a sustainable succession outcome in your financial advice practice?

ANSWER

[a] I will find an independent financial planner to buy my business
[b] I will sell a portion of my advice practice to a large corporate
[c] I will join a large firm and give up my independence
[d] I will invite another independent financial planner to join me
[e] I will partner with a large firm
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