New Zealand financial advisory pioneer Graham Rich is the inaugural recipient of that country’s Institute of Financial Advisers’ (IFA) Outstanding Contribution to the Profession award.

“Graham has been primarily responsible for creating financial planning as a discipline in New Zealand,” IFA Chairman Tony Vidler says.

Mr Rich has been involved in New Zealand’s financial services industry for nearly 40 years. He became the country’s youngest regional insurance manager in 1975, established its first financial planning practice in 1983 and followed on with a pioneering retail investment research firm.

He was the first New Zealander to join the International Association of Financial Planners, was the first chair and life member of the NZ chapter of the organisation and also developed a successful practice in Australia.

Mr Rich also helped develop the harmonisation of professional practice standards on both sides of the Tasman and pioneered the development of software for financial advisers.