{"id":326938,"date":"2025-12-05T11:46:16","date_gmt":"2025-12-05T11:46:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/326938\/"},"modified":"2025-12-05T11:46:16","modified_gmt":"2025-12-05T11:46:16","slug":"what-makes-an-awarding-winning-financial-plan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/326938\/","title":{"rendered":"What makes an awarding-winning financial plan?"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Judges for the National Financial Planning Awards are looking for complex financial plans that demonstrate technical prowess and a deep connection with the client.Nuthawut Somsuk\/iStockPhoto \/ Getty Images<\/p>\n

Advisors entering the National Financial Planning Awards (NFPAs) next year should submit a case that peels back all the client\u2019s layers like an onion. <\/p>\n

Judges want to read complex financial plans that not only demonstrate technical prowess but also a deep connection with the client, says Ngoc Day, one of the judges for the NFPAs.<\/p>\n

Ms. Day, who is also a certified financial planner and portfolio manager at Macdonald Shymko & Co. Ltd. in Vancouver, defines complexity as situations involving blended families, cross-border tax issues, or dependants with special needs, for example. <\/p>\n

Cases about retirement readiness or what to do with an inheritance, on the other hand, are part of every financial planner\u2019s work and don\u2019t showcase the high-level financial planning the award hopes to highlight, she says. <\/p>\n

NFPAs judge Lenore Davis, registered financial planner at Lenore Davis Financial Planning in Victoria, says financial plans shouldn\u2019t be driven strictly by financial planning software. She notes a submission needs to show the impact of decisions on the client and the overall outcomes. <\/p>\n

\u201cWe are looking for client-centred cases with in-depth, nuanced analysis,\u201d Ms. Davis says. \u201cThey should look at the client\u2019s situation from many different points of view.\u201d<\/p>\n

She notes that Meagan Balaneski, portfolio manager and investment advisor at Aligned Capital Partners Inc. in Vermilion, Alta., and the award\u2019s inaugural recipient<\/a>, stood out as she clearly explained three possible solutions for the client, outlining the positives and negatives for each and explaining what led the client to choose the best option. <\/p>\n

\u201cThe idea of having multiple solves and alternatives within a plan helps the client understand what each path looks like for them,\u201d Ms. Balaneski says. \u201cThat\u2019s a different approach than the advisor looking at the math and solving the problem from just that viewpoint.\u201d<\/p>\n

NFPAs entries are open to financial planners who hold the certified financial planner, registered financial planner, or qualified associate financial planner designations. <\/p>\n

Presented by the Financial Planning Association of Canada (FPAC) in partnership with the Institute of Advanced Financial Planners (IAFP), the NFPAs recognize client-focused advice, innovation and technical expertise in financial planning. FPAC changed the name of the award for 2026 to emphasize the cross-Canada nature of the competition.<\/p>\n

Judging for the NFPAs has three phrases. First, the financial planner answers questions about their client\u2019s case. From there, if the judges are enticed, they\u2019ll ask the applicant to submit the full comprehensive plan. In these first two phases, the cases and identifying details about the financial planner and clients are redacted to protect privacy and prevent bias in judging.<\/p>\n

The final stage is a virtual interview with the judges during which the financial planners will answer questions and defend their plan. <\/p>\n

The benefit of reflection forces the financial planner to look back on their work and reconsider things, Ms. Davis notes. <\/p>\n

\u201cThey\u2019re able to evaluate it critically in terms of, \u2018Did it really accomplish everything I wanted for the client?\u2019\u201d<\/p>\n

Furthermore, the judges provide all financial planners with direct feedback they can use to make their plans stronger.<\/p>\n

\u201cThe worst thing that comes out of it is really excellent feedback,\u201d Ms. Balaneski says. \u201cYou may alter your processes and you become a better financial planner for it.\u201d<\/p>\n

The NFPAs winner will receive their award at the IAFP Symposium in September, 2026. The prize includes registration for the annual conference, as well as airfare and accommodation. Globe Advisor is the media sponsor of the award.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Judges for the National Financial Planning Awards are looking for complex financial plans…\n","protected":false},"author":2,"featured_media":326939,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[1397,45,49,48,133,5266,2922,131,132],"class_list":{"0":"post-326938","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-appwebview","9":"tag-business","10":"tag-ca","11":"tag-canada","12":"tag-finance","13":"tag-globe-advisor","14":"tag-noastack","15":"tag-personal-finance","16":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/326938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=326938"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/326938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/326939"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=326938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=326938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=326938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}