There is less than a week to go for advisers to send in applications for the Institute of Financial Planning’s David Norton ‘Building Excellence’ award.

The award recognises firms with the most potential to become an excellent Financial Planning firm.

This is shown by their commitment to ‘true’ Financial Planning, identification of the strengths and weaknesses in their company, embracing fee-based remuneration and a well-thought out business plan.

Previous winners include Fiscal Engineers, PageRussell and BoulterBowen Wealthcare.

The prizes on offer are two days of business mentoring from Brett Davidson of FP Advance, a value proposition day with Abbie Tanner of A Business Innovation, a client experience day with Carrie Bendall of Inspire Design Consultancy, a practice management day with Tracey Underwood CFP^CM of Pace Solutions and a PR and media consultancy day with Elizabeth Holt of Holt PR.

Nick Cann, chief executive of the IFP, said: “This is the fifth year of the David Norton award, a competition which has proved a real success.

“The fact that it helps firms to develop their business through the process of mentoring is unusual yet highly valuable to a large number of firms.”

Firms wishing to enter should visit the IFP website and fill in the online application form by Friday 4 May.

If they are successful, applicants will be contacted by Friday 25 May.

To send in your application visit http://www.financialplanning.org.uk/david-norton-building-excellence-awards