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Professional Practice of the Year Award

Open to current FAAA Professional Practice Program participants, who joined the FAAA Professional Practice Program before 1 July 2023, this award recognises Professional Practices demonstrating a commitment to excellence across a range of key metrics.

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Award Eligibility

  • The practice is a current FAAA Professional Practice and was subscribed to the program for the full 12 months ending 30 June 2024. 
  • The practice has a clear compliance record. 
  • A 2023 FAAA Awards winner is unable to apply in the same category again in 2024. 
  • 2024 Award judges cannot apply for an award category in 2024. 
  • Current FAAA Board Directors cannot participate in the FAAA Awards process. This includes staff employed by and Practices owned by current Directors, where the Board Director is the owner of the Business or Practice Principal.  
  • Former Board Directors are unable to participate for at least one year after retiring from the Board. This includes the staff of former Directors, who are also not eligible for at least one year following the Director’s retirement date if the Board Director is the owner of the Business or Practice Principal. 

Award Acknowledgement

Prizes

  • Complimentary FAAA Professional Practice renewal in FY26
  • Complimentary attendance (for a nominated member of your practice) to the 2025 FAAA Congress
  • $1000 voucher towards airfares and accommodation to attend the 2025 FAAA Congress
  • Trophy (for winners and finalists)
  • Complimentary ticket (for a nominated member of your practice) to attend the 2024 Gala Dinner
  • Complimentary ticket (for a nominated member of your practice) to attend the 2024 VIP event prior to the Gala Dinner
  • Complimentary ticket (for a nominated member of your practice) to attend the 2025 VIP event prior to the Gala Dinner as the outgoing winner for that award

Marketing and Events

  • Press opportunities with a wide range of key industry media partners covering the 2024 program
  • Social media coverage to a dedicated following of over 25,000 followers
  • Opportunities to present at FAAA Events (depending on the agenda, winners may be eligible to present as part of the FAAA Roadshow and/or via targeted webinars/podcasts to specialist communities)
  • Opportunities to present at award partner events and webinars
  • Personalised email signature and icon to be used in personal marketing (for winners and finalists)
  • 60 second winner video to be used in personal marketing and played during the Gala Dinner (finalists will receive a short finalist video)

Showcase

  • Economy airfares and accommodation (in Sydney) to attend the FAAA Awards Finalist Showcase (travel organised by the FAAA)
  • Finalist Showcase Dinner

2023 Winner

Winning this award was a great honour and reflected all the hard work the Boutique Advisers team has put in over the last 20 years. Our staff were so proud and highlighted to us the importance of small incremental improvements and a continual focus on being the best that you can be. After being a finalist in 2022, we used it as an opportunity to engage our whole team, which created confidence and growth within our people. We really enjoyed the application process and would recommend any firm in doing so.

FAQs

Yes, to nominate or apply you must be an FAAA member and have renewed for the FY25 membership year.

Previous finalists may apply for the award, however the maximum number of consecutive applications from finalists is two in two years for the same award. 2023 Award winners are unable to apply for the same category again.

You are encouraged to submit relevant supporting documents including videos, client testimonials, and references to bring your application to life (up to 3 supporting documents). These can be submitted as part of your online application. 

No, the judges will only review the supporting documentation requested as part of the Application process (up to 3). Please do not send additional documentation. 

No, we encourage all eligible members to self-nominate 

You’ll need to complete the Application form for your nominated award through our award submission software portal (Judgify), which also includes a short  video submission, and upload the required documents specific to that award (e.g redacted external Compliance / Advice Audit report and a Redacted Statement of Advice (SOA), where the advice must have been presented in 2023 or 2024).  

No, entry is free. 

All entry submissions are kept in the strictest confidence. Judges are required to keep your entry submission and details confidential and will not disclose any details to anyone outside the judging process. At the conclusion of judging all submissions will be securely destroyed

Your entries will not be returned to you. 

The top 3 finalists will be contacted by Friday 4 October. All other nominees will be contacted by email and advised of the outcome by Friday 11 October. 

The top 3 finalists will be required to participate in an interview with the judging panel as part of the finalist showcase in the week commencing 21 October 2024, either virtually or in-person. The format of the interview (virtual or face to face) will be at the discretion of the FAAA. 

If you are a finalist in an award category that requires a face to face interview, the FAAA will cover: 

Either return economy class airfare from the closest major domestic airport to Sydney on the airline of the FAAA’s choosing, including transfer costs from/to Sydney airport and Sydney CBD OR 

Reasonable travel costs/parking for any finalists within driving distance of the FAAA’s Clarence St, Sydney office AND 

Overnight accommodation with breakfast at a hotel of FAAA’s choosing AND 

The Showcase dinner for the finalists in each category AND 

VIP drinks and the Gala Dinner attendance for the finalists in each category. 

The winner is announced at the Award ceremony during the Gala Dinner at the 2024 Congress (Thursday 28 November). All finalists must be in attendance.  

You are required to submit an audit report conducted by a compliance professional external to your business, which also includes a review of initial and/or review-related advice. An audit report that only covers a review of the advice file (i.e. confirmation of required documents are on file) will not be deemed as comprehensive. The audit must be dated after 1 January 2023. Please ensure the compliance report is redacted to remove all client names and/or personally identifiable information for anyone other than the applicant and the auditor.

Where there is an award sponsor, there may be opportunities for you to speak at events organised by that sponsor in the following year. 

The FAAA frequently invites award winners to speak as part of the FAAA Roadshow series or provides opportunities to participate in our virtual CPD program (webinars etc). Past winners may also have the opportunity to judge the awards in the year following their win for the same category (at the invitation and discretion of the FAAA).