SA Best Practice Award winner announced

Durban based financial services company, Execuserv, was named SA's Best Practice of the Year at a gala awards ceremony last night. The competition, which seeks to recognise excellence in independent financial advisory practices, attracted more than 80 par

The competition and awards evening was organised by Celestis, a wholly owned Old Mutual subsidiary that supports financial advisers, in association with Business Health, an Australian consulting firm specialising in financial services, and media partner, FAnews. The event was endorsed and sponsored by Old Mutual, Sanlam, Liberty Life, Metropolitan and Masthead.

Esme Davies, Head of Practice Management for Celestis said: "We are elated with the response we've had to the competition and we aim to build on this success by making it an annual event that we hope will grow in stature each year."

The competition strives to raise the levels of service, practice management and compliance awareness within the financial advisory sector, while recognising the roles played by all staff members within the top performing companies. With the emphasis on team effort, this competition acknowledges the contribution of the business as a whole as opposed to only the individual.

Practices were assessed in a number of categories, including client management, operational efficiency, business continuity, range of products and services, resource deployment and profitability.

The winning practice, Execuserv, comprises a team of nine dedicated staff who look after an established client base of personal finance and investment clients as well as a number of pension and provident funds. Their client­-centred approach towards business and their strict adherence to business procedures is what ultimately secured them their place at the top.

"The calibre of our finalists makes them all winners in their own right. We were particularly impressed that all staff members of the participating practices were familiar with the business plan and the objectives of their respective companies," Davies said.

Celestis focuses on enabling financial advisors by offering compliance, IT support and practice management services. Business Health develops and markets exclusive business diagnostic tools internationally and their flagship product, HealthCheck, was used to evaluate participating practices that entered the competition. Of the more than 80 entries received, 65 completed the HealthCheck that comprised more than 130 in­-depth questions. As a result, every entrant now has a very good idea of all the elements required for sustained success in business. Most commented that they learnt a great deal about their business from this exercise and that it would add significant value to their practices in the future.

One of the adjudicators and representatives from Business Health in Australia, Tony Stephens, said: We've hosted this competition on four occasions in Australia and I am pleasantly surprised at the level of professionalism and the high standards maintained by the financial advisory practices with which I have engaged in this country during the course of this competition.

The other finalists were Charl Saunderson Finansile Adviseurs in Upington, Dencou Brokers in Pretoria, Fidius Financial Planners in Pretoria, NFB Financial Services Group in Nahoon, East London, Adroit Financial Planning Partners in Durban, Afken Financial Services in Bryanston, Johannesburg and Alec Levin Insurance and Investment Brokers in Bloemfontein.