To keep the SCMP/IFPHK Financial Planner Awards fresh and relevant, the organisers every year review the competition's basic format and categories. The reasons for this include wanting to move with the times as the financial planning profession evolves and client expectations change. But it is also important to set higher standards.

"That is why we introduced a new award in 2011 for Company of the Year," says Dennis Lau, chief executive of the Institute of Financial Planners of Hong Kong (IFPHK). "It is to recognise the respective employers of the individual industry winners for their contribution to the sector." The first three recipients were Standard Chartered Bank (Hong Kong), Ageas Insurance Company (Asia) and ipac Financial Planning HK.

"It also acknowledges each company's dedication to providing an excellent platform for the winners to develop their skills and grow as professionals," Lau says.

This year's individual champions were quick to applaud the advice, coaching and general encouragement from training departments and colleagues, pointing out that any win in the awards is a team effort.