The Association of Financial Advisers (AFA) has launched new awards to find the best adviser and practice.

Its adviser award has previously focused on individuals giving advice, excluding principals who concentrate on running their businesses.

AFA CEO Brad Fox says the changing financial advice landscape prompted the decision to instead present two prizes.

“One of the big changes we’ve seen in recent years is the growth in new business models, with the principals of many successful and innovative advice practices no longer being client-facing advisers themselves.

“At the same time, practice consolidation has seen an increase in specialist advisers who perhaps don’t own part of the practice and aren’t so much focused on the growth and day-to-day running of their practice overall.”

The awards are sponsored by Zurich. Applications open today and close on August 8.

Winners will be announced at the AFA National Conference in Cairns from October 11-14.