Since its launch back in 2008, the David Norton Award has firmly established itself as the “one to win” when it comes to the plethora of awards that exist across the Financial Planning profession.

Launched in memory of former IFP President David Norton, FIFP, CFP^CM, past winners include PageRussell, Capital Asset Management, BoulterBowen Wealthcare and, most recently, Fiscal Engineers.

Shane Mullins, managing director of 2011 winner Fiscal Engineers, said: “Even if we had not actually won the award, which is in my view the highest accolade for Financial Planning firms, the process of applying and being considered told us so much about ourselves that will help us to develop our business further.”

When it comes to his tips for those considering applying this year he suggested: “Don’t under-estimate the time commitment in submitting a serious entry and have a clear vision of what you want your firm to look like in the future, and what you need to do to get there.”

The 2012 competition gets underway when the application process opens later in March. The online application form will be available via the IFP website. Firms will be required to submit details of their business process and aspirations as well as key management information.

Firms which are shortlisted will then be required to submit further details and analysis of their business to the judging panel. The winning firm will be announced at the IFP conference at Celtic Manor in October.