Industry doyenne Gwen Fletcher will be remembered through an award for the best students in the Certified Financial Planner program.

The Gwen Fletcher Memorial Award is worth $1000 and will be funded by the Financial Planning Association (FPA).

The first winner – the student who achieves the highest mark in this semester’s three assessments – will be announced on June 20.

FPA CEO Mark Rantall says the award honours the late “First Lady of Financial Planning”.

“It supports a key legacy of her lifelong endeavours to champion the vital role of education and its central importance in nurturing a financial planning profession.

“This award is a way we can not only acknowledge her commitment from an organisational perspective, but also the role she played in developing individual financial planners and ultimately putting them in a better position to service their clients.”

Ms Fletcher played a pivotal role in the formation of the FPA through the merger of the International Association of Financial Planners and the Australian Society of Investment and Financial Advisers. She died in February aged 94.