New Model Adviser of the Year 2012

New Model Adviser® has been celebrating the best in financial planning for the last seven years with its annual awards ceremony. We select the best fee-based financial advice firms from across eight regions to receive one of our prestigious awards.

Financial planners are judged on professional qualifications, growth in turnover and the proportion of money they earn as recurring income, as opposed to upfront product commission. Short-listed firms are then taken through a further interview process looking in detail at these areas and additional factors. The methodology is analysed and approved by AKG, a leading firm of actuaries.

We have also introduced two new awards this year. The Young Firm of the Year has been selected from the best entrants for our regional competition with businesses which are under two years old. The Lifetime Achievement Award was voted for by New Model Adviser® readers online and at our conference.

Lifetime Achievement Award – Paul Etheridge

The 'godfather' of financial planning, Paul Etheridge has cemented his reputation as one of the UK's leading advisers thanks to his role as founder president of the Institute of Financial Planning and his championing of the use of cashflow modelling. Etheridge is perhaps best known for his development of cashflow modelling and back office software Prestwood and Truth, winning many advisers over to fee-based business models in the process. West Midlands-based Etheridge has also represented the adviser community, sitting on Financial Services Authority and Personal Investment Authority committees.

Young Firm of the Year – Loch Fyne Financial Management

Glasgow-based Loch Fyne Financial Management overcame strong competition to be crowned as young firm of the year. Douglas McIntyre was first featured in New Model Adviser® in 2008 with his old firm MacDonald Reid Scott Group, which he sold to consolidator Towergate Financial in May of that year. McIntyre left Towergate in 2011, setting up Loch Fyne Financial Management in April 2011.

New Model Adviser® of the Year award winners

Wales – Heron House Financial Management

Heron House Financial Management celebrated winning New Model Adviser® of the Year Wales for the fifth time this year after collecting the prize in 2007, 2008, 2010 and 2011. Newport-based Heron House and its nine-man team, led by Chris Jordan and Saran Allot-Davey, have built a reputation for representing the best in financial planning since forming the business in October 1987. Senior planner Jordan said: 'We don't rest on our laurels; we always consider that there is something to learn from somewhere else.'

South East – Skerritt Consultants

Skerritt Consultants retained their title as champions of the South East region. Skerritts have built a high profile thanks to their acquisitive plans and discretionary investment management team led by Andrew Merricks. New Skerritts recruit Mark Cardy, who joined as associate director in September after working as head of pensions and annuities sales with Aegon, collected the prize on behalf of the Hove-based team.

North of England – Eldon Financial Planning

County Durham-based Eldon Financial Planning claimed the prize for the North. The Eldon team have spent the last year focused on preparing for the retail distribution review (RDR) but are upbeat about the opportunities 2013 will bring. Eldon Financial Planning director Joss Harwood said: 'It is very special to be recognised for what we think is the right thing to be; client focused, well qualified, and making sure we are delivering the service that regulators ... think we should be delivering.'

South West – Paradigm Norton Financial Planning

Bristol-based Paradigm Norton Financial Planning continued its winning streak, taking the prize for the South West region for the fifth time after scooping the award in 2006, 2007, 2009 and 2011. Paradigm Norton bought a specialist tax planning practice in October, building on its acquisition of David Jones Financial Planning in 2010. 'We have won it before but we are genuinely not complacent about winning it again,' said director William Pratt. 'We have a good team that works hard but there are a lot of good firms around so it is great to win it again.'

East of England – Dunham Financial Services

Rebecca Taylor, managing director of Dunham Financial Services in Peterborough, took to the stage for the fourth time to collect the award for the East of England after winning in 2007, 2010 and 2011. Taylor has in the past credited robust business processes for her success but they were tested to the limit this year with four of her staff out of five on paternity or maternity leave. 'For us to go through that in one year and still come out with an award is pretty good,' said Taylor. 'It is amazing to get recognition. I feel quite humbled.'

Midlands – Central Financial Planning

Central Financial Planning claimed the award for the Midlands for the second time after winning in 2010. Central chief executive Ian Smith has been working with consultant Brett Davidson of FP Advance over the last year to help prepare the Solihull-based business for the RDR. 'We are a small, tight team and it is great to get external recognition,' said Smith.

Scotland & Northern Ireland – Navigator Financial Planning

David Crozier, managing director of Navigator Financial Planning, credited building business processes over the last year after clinching the prize for Scotland and Northern Ireland. County Down-based Crozier launched Navigator in 2004 and was joined by Catherine Greeves in September 2010. He said: 'I really did not think we would win it but we have done a lot of work this year getting our processes together and I just feel it has really been vindicated.'

London – John Lamb LLP

John Lamb retained its title as champion of Greater London and head of private clients Campbell Edgar attributed the success to the firm's focus on conserving clients' capital in difficult markets. Edgar also scooped an award in 2009 with his former firm Andersen Charnley, which was taken over by Collins Stewart in August 2011. Edgar said: 'We have made huge progress as a firm and we believe this recognises the progress we are making. It is a long journey and we are looking forward to much more success in the future.'