Page 24 - Investment Advisor December 2022/January 2023

Why Recognition Matters:

The LUMINARIES

Program in Action

BY JANET LEVAUX

e launched ThinkAdvisor’s LUMINARIES program last year to showcase the powerful,
innovative ways the financial services industry is making a difference. What the program has
W demonstrated to date is how many advisors and firms are expanding financial wellness in their
communities and nationwide — and how creative and moving these efforts truly are.
We received a large number of nominations from those pelling effort that supports a small (or large) business can be
working on programs to improve the financial education of replicated elsewhere — regardless of its size — by adapting its
K-12 children and young adults, for instance. To ensure that exemplary approach to a different context.
the students he supports have a safe place to learn, one advi- Second, in order to spotlight such powerful stories and exam-
sor regularly brings large groups to study at his office. Other ples, we ask all nominees (of all shapes and sizes) to share
advisors work to improve the lives of underserved communi- detailed, comprehensive information about how their innovative
ties, such as formerly incarcerated individuals who are start- approach is making a difference in the industry and in the wider
ing businesses and first-generation Americans facing hurdles community. This is the foundation of our merit-based program.
when opening financial accounts. To be competitive, nominations must provide details on ini-
These initiatives exemplify that the industry can change tiatives and impact. It is by making this uniform (and demand-
how it views and improves the financial health of both cli- ing) request of all nominees that we are able to give our judges
ents and the wider community of prospective investors. As and readers compelling information on what individuals and
we proudly announce the 2022 LUMINARIES Winners, it’s firms are doing to make a positive impact and push the indus-
worthwhile to keep this in mind and to review several other try in new directions. It’s a process with a clear purpose.
key benefits of this exciting program. Third, the program is evolving and thus is updated each year.
First, regardless of the size of the advisor’s business or a firm’s For instance, we change the award categories to reflect indus-
asset level, all nominations are considered carefully and fairly. In try trends and development, which we believe inspires differ-
other words, they have a similar chance of becoming a finalist and ent individuals and firms to participate in the LUMINARIES
winner. This is because the criteria for judging LUMINARIES each year. We also update the questions on the nomination
entries focus on replicable, scalable efforts and “must know” suc- form, for instance, so that we can obtain better information
cess stories that can help other advisors and firms. each year for our judges and to share in our coverage.
Does the nominee serve as a powerful example of industry Finally, the structure and features of the LUMINARIES
excellence and offer best practices? Firms of all sizes and spe- enable us to showcase examples of excellence and the impact
cialties should be able to learn — and find practical guidance — being made by advisors, leaders and firms. Consequently, the
from what these standout individuals and firms are doing. program’s finalists and winners serve as an inspiring standard
Overall, the size of an organization does not matter when it for the advisory business — by providing powerful and repli-
comes to what the judges are looking for: creative and inspir- cable examples of what, why and how the industry can excel,
ing approaches being taken by industry players today. A com- and what it takes to produce dynamic and far-reaching results.

22 INVESTMENT ADVISOR DECEMBER 2022/JANUARY 2023 | ThinkAdvisor.com