Minister endorses sound advice

Commerce Minister Lianne Dalziel endorses professional advice at Financial Planner of the Year Awards.

Thursday, November 20th 2003, 10:59PM

Two of the top financial planners in New Zealand have been recognised at the fourth annual Financial Planner of the Year Awards.

This year saw a significant change in the format of the Awards. The Financial Planner of the Year Awards was renamed the Certified Financial Planner (CFP) of the Year recognising the growing importance of the internationally recognised mark.

The Financial Planners and Insurance Advisers Association, which manages the CFP mark in New Zealand, supported the awards.

"We're delighted to endorse these Awards and help promote financial planning to the public," Financial Planners and Insurance Advisers Association (FPIA) chief executive Phillip Matthews says.

Invercargill-based Ricky Bennett of Bennett and Associates won the CFP of the Year and Lisa Dudson of Acumen Financial Planning in Auckland won the inaugural Young Financial Planner of the Year Award.

The Awards are designed to promote and recognise excellence in the financial planning industry. They are also aimed at raising the awareness of professional financial planning.

Commerce Minister Lianne Dalziel told financial planners at the Awards ceremony that she is often surprised at the lack of understanding around two very simple principles; The first of which is: “The higher the promised rate of return the greater the risk” and “if it sounds too good to be true, it is."

"Encouraging people to use the services of professional financial planners will at least enable people to recognise the difference between the ‘get-rich-quick’ brigade and those that offer sound investment advice," she said.

Her comments are endorsed by ING managing director Paul Fyfe. "The Awards promote excellence in financial planning and good savings practice to the wider community. Indeed, they highlight to the general public the benefits of seeking professional financial planning advice in the management of their finances and investments," Fyfe said.

The CFP Award is judged by Economics New Zealand managing director Donal Curtin, Retirement Commissioner Diana Crossan and business journalist Mary Holm.

The Young Financial Planner of the Year is judged by last year’s Financial Planner of the Year Fiona Judd and Massey University lecturer Jenny Ridge.

The judges commented that there was a high standard of entries this year.

"We're delighted with the calibre of the candidates this year and with the selection of Ricky Bennett and Lisa Dudson as winners," added Paul Forder of Awards major sponsor Sovereign. "Their success continues the tradition of the high calibre of previous winners."

The Awards are sponsored by leading funds management companies; AMP, ING, Tower and Sovereign.

Online money management magazine Good Returns (www.goodreturns.co.nz) organised the awards.

CAPTION: CFP of the Year Ricky Bennett and runner-up Phillip King

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