The Excellence in Retail Financial Services Awards

OUR EVALUATION CRITERIA

The evaluation criteria for each of our awards are designed very specifically to be able to capture quantifiable insights, but predicated by a “Belief Statement” that captures what we are looking for.

Each Belief Statement can be broken down into its “Elements” so that candidates will know exactly what we are looking for and how much weightage we give to each of them. Each of the “Elements” are supported by quantifiable data, some which are specific financials and others which are proxies for conceptual areas, and we add them all up into a scorecard.

The scorecard is useful for many purposes. It attempts to be as objective as it possibly can be, and transparent so that it gives us the opportunity to discuss with the different participants what we thought we understood. From this, we are also able to subsequently draw up GAP analysis that can be used in any benchmarking exercise.

1. The Leadership Achievement in Wealth and Society Project Awards

To recognise individuals who invest and deploy their wealth in ways to bring about positive impacts on the society that they operate in.

We believe that the wealthy have an important role in the development of society. Around the world opportunities for wealth are being created in new ways. The growth of wealth in different societies can be a force for good. The wealthy can have a positive impact on the sustainability and progress of the societies that they are in. We measure wealth not by the people who are wealthy but by the people who are useful to the society they operate in.

This is perhaps the most prestigious of the achievement awards, as it recognises those who have distinguished their reputations, skills and achievements over a lifetime, setting the benchmark from which we assess others who distinguish themselves on current achievements.

The criteria by which we assess candidates for this award are:

Time spent in their respective industry, career, profession and impact therein.
Assess the candidate’s achievements relative to as well as over and above of their peers.
We assess the performance of project(s) for which the candidate spend time with that demonstrated leadership in terms of achievement based on the following balanced scorecard.

SCORECARD

Dimension	Weight	Criteria
Type of project	10%	Purpose of project and the intended impact
Scope of project	10%	Segment of population that it will impact Number of people/family Geographic location
Investment/Funding	10%	Amount of financial investment Duration of project Estimated financial returns
Social Impact	20%	Stated Vision/Mission/Policy on ESG, CSR, Social Inclusion, Philanthropy and Sustainable Number, ratio and composition of products and services based on ESG, CSR, Social Inclusion, Philanthropy and Sustainable principles Number, ratio and composition of client activity designed on ESG, CSR, Social Inclusion, Philanthropy and Sustainable principles Investment in internal/external ESG, CSR, Social Inclusion, Philanthropy and Sustainable related activities
Financial Impact	20%	ROE, Profitability, Revenue Growth, etc
Knowledge, Staff and Technology Transfer	20%	Degree of knowledge, skill and technology transfer to beneficiary
Achievements in the year under review	10%	The ability to articulate an achievement that is not captured above

2. The Business Achievement in Wealth and Society Awards

To recognise institutions that through their value/principle, expertise, experience and infrastructure enable their clients to invest and deploy their wealth in ways to bring about positive impacts on the society, while at the same time making a positive financial return on investments.

We believe that the best institutions are able to understand and look after the client's personal aspiration as well as family and business interests through their entire life and social cycles through integrity, exceptional service, a deep empathy of the client's needs through segmentation and other analytics, superior and timely product innovation resulting in the preservation and expansion of the client's wealth in their lifetime.

Dimension	Weight	Criteria
Value of Franchise	10%	Market share and growth in AUM, business size or volume Number/growth in high and ultra-high net-worth clients Number/growth rate in high and ultra-high net-worth client centre Number, breadth and depth of products and services that are exclusive to high and ultra-high net-worth clients
Financial Performance	10%	Revenues, operating profit and growth Return on assets Portion of income which is recurring Composition of invested assets
Social Impact	20%	Stated Vision/Mission/Policy on ESG, CSR and Social Inclusion Number, ratio and composition of products and services based on ESG, CSR and Social Inclusion principles Number, ratio and composition of client activity designed on ESG, CSR and Social Inclusion principles Investment in internal/external ESG, CSR and Social Inclusion related activities
Products and Services	20%	Tailored products and services Key features and functionality of products Risk weighted return of the product (if applicable) Product level profitability and product AUM/size/volume Degree of product and service innovation Customer satisfaction ofhigh and ultra-high net-worth clients
Staff Skills	20%	- % of professional certificates owners (CFP, CFA) - % of relationship managers serving high and ultra-high net-worth clients - Number/growth in relationship managers serving high and ultra-high net-worth clients - Breadth and depth of expertise or skillset a relationship manager can bring to high and ultra-high net-worth clients
Technology and Efficiency	15%	Time to market for a complex solution involving more than two internal department or third-party vendor Level of system integration A comprehensiveness IT system with built in CRM and data analysis capability
Achievements in the year under review	5%	- The ability to articulate an achievement that is not captured above

3. The Product and Service Achievement in Wealth and Society Awards

To recognise products and services that are highly customised and tailored to high and ultra-high net-worth clients, aspirational, risk diversified, innovative and offer superior performance to enable clients to achieve a positive financial return on investments or meet their lifestyle goals.

We believe that the best products and services in wealth and society are aligned to high and ultra-high net worth clients’ personal investment philosophy and objective and enable them to achieve their financial and lifestyle needs by meeting their risk profile and investment objectives, as demonstrated by a strong wallet share of the assets and liabilities of the client and his/her family.

The criteria by which we assess candidates for this award are:

Tailored products and services
Key features and functionality of products
Risk weighted return of the product (if applicable)
Product level profitability and product AUM/size/volume
Degree of product and service innovation
Customer satisfaction of high and ultra-high net-worth clients