TFS Financial Planning has been judged Australia's most outstanding financial advice business at the IFA Best Practice Awards 2008.
It was TFS's fourth attempt at the title and during the past year principal Danny Maher has immersed himself in bettering his practice, using tips from previous winners and finalists.
Maher said key to him was that he learnt from other finalists how they run their businesses and since last year he has adopted a similar pod structure to WB Financial.
This year, he said he has really striven to become the pre-eminent provider of advice in North Queensland. He has expanded the business and it continues to grow despite the market gyrations.
Maher said he still sees more that needs to be done in the business, including focusing on soft skills for advisers.
"We see a lot of people that have the right qualifications, but not the soft skills," he said.
The 2008 competition attracted more than 300 nominated practices.
Other finalists were: WB Financial, Menico Tuck, Australian Private Capital, rmg financial services and Eureka Financial Group.
The assessment process began with all practices undertaking the HealthCheck diagnostic online self-assessment and receiving a health rating. Visits and interviews with the top practices were then undertaken.
Final judgments were made by a panel comprising: FPA chief executive Jo-Anne Bloch, Association of Financial Advisers chief executive Richard Klipin, Paragem compliance manager Michael Rowles, 2006 IFA Best Practice Genesis practice manager Michelle Flanagan and myself.
