The Financial Planning Association (FPA) announced at its convention in San Diego that it has joined forces with Denver-based Janus Capital Group to create the Financial Frontiers Awards. The awards build on the Call for Papers started by The Journal of Financial Planning to encourage advanced research on issues regarding financial planning and wealth management.
Instead of the annual Call for Papers by the FPA’s Journal, The Financial Frontiers Awards will seek papers by “pioneers, thought leaders, and revolutionaries.” Authors do not have to be from academia; in fact, participation by a broad group of interested professionals is encouraged. As in the past, winning papers will be published in the Journal, and their authors will receive cash awards. “We’ve been calling for papers for Journal for years,” says Dan Moisand, president-elect of the FPA. The new awards are designed to attract the attention of a larger group of individuals. Janus will add up to $100,000 in cash awards. “The top prize was $1,000 before,” according to Moisand.
“There are a lot of people out there with brilliant ideas, but it’s a lot of work for $1,000. In this space there’s nothing of this magnitude,” says Ian MacKenzie, senior director of publishing at the Journal, adding, “this is not exclusively investment based, it could include a variety of topics, such as gerontology, stress, practice management, or trusts and estates.” What is different about the new awards is that Janus has sponsored several larger prizes. Up to three papers will win gold awards of $20,000; up to three additional papers will each win silver awards of $10,000; and there may be a special Judges’ Grant of $10,000 for one other paper.
Dana Klein, director, Janus Labs, hopes to turn the papers’ “academic ideas into practical applications for its practice management program. The process is in place, but maybe there will be higher numbers of papers. The ideas in these papers get picked up by the mainstream.”
Judges will be selected by the FPA, as before, and will include both FPA members and non-members, such as academics, bankers, and estate planners. The deadline for submitting papers is January 15, 2006, and winners will be invited to present their papers at the 2006 FPA convention. For complete guidelines, please go to the Financial Frontiers Awards Web site at http://www.financialfrontiersawards.org.