Acts of kindness prevail in adviser community

Although the Bernie Madoffs and R. Allen Stanfords of the world have dominated media attention, the fact is that most financial advisers are good, honest people who put their clients’ interests first and in many cases look to give back to their communities.

I know this firsthand because of InvestmentNews’ partnership with the Invest in Others Charitable Foundation in sponsoring the Community Leadership Awards.

Each year, the award competition recognizes advisers for exemplary leadership within their communities.

Being one of the judges with the Invest in Others Charitable Foundation has been a rewarding experience. It has afforded me an opportunity to see how selfless so many people in this industry are and how they give of themselves without seeking anything in return.

These financial professionals are the anti-Madoffs.

These people are truly remarkable individuals. I am not just talking about the finalists; I am speaking of all 400 advisers nominated by their peers or companies.

The most difficult part of being a judge in this competition is selecting just a few finalists after reading one amazing and compelling application after another.

“Selecting this year’s finalists from the nearly 400 nominations was quite a challenge,” said Suzanne Siracuse, publisher of InvestmentNews and a member of the board of the Invest in Others Charitable Foundation. “Our judges — an advisory board consisting of industry executives and a team from InvestmentNews — were awed by the contributions made by financial advisers to their communities.”

The many amazing applications did create a struggle for the judges. However, like in any other competition, there are those people who distinguish themselves just a little bit more than the rest.

Those honorees will be announced and presented with their awards at a dinner in New York on Sept. 30.

Honorees’ charities each will receive a $10,000 donation, and other finalists’ charities each receive a $500 donation.

Awards will be presented in three individual categories and one group category.

During last year’s awards dinner, Kandis Bates, president of the Invest in Others foundation, told the 450 people in attendance that she felt “humbled” after listening to many stories of the selfless charitable work these advisers do each day.

She was spot on — there was no other word to use but “humbled.”

This year, in the Community Service category, the adviser finalists are W. Stephen McMahon of Wells Fargo Advisors LLC for his work with the Boys and Girls Club of Manchester, (N.H.), Robert E. Wamhoff of Wamhoff Financial Planning and Accounting Services Inc, for his work with Just Because We Care of Hazelwood, Mo.; and Stephen Brent Wells of The Solaris Group LLC for St. Mary’s Healthcare System for Children in New York.

In the Mentoring Excellence category, the adviser finalists are Mason Champion of Morgan Stanley Smith Barney for the Boys’ Latin School of Maryland Golf Program in Baltimore; Brett S. Ellen of American Financial Network/Securities America Inc., for Turn Kindness On Helping Hands of Calabasas, Calif.; and Karen True Winslow of Wintergreen Financial Group for Big Brothers Big Sisters of Southern Maine in Portland.

In the Volunteer of the Year category, the adviser finalists are William Pickens of Wells Fargo Advisors for Gift of Life Mid-South in Memphis, Tenn.; Mary Schulte of Morgan Stanley Smith Barney for DuPage PADS Inc. of Wheaton, Ill.; and Robert B. Wolford of Hollencrest Capital Management of Newport Beach, Calif., for Operation Homefront.

In the group category — the Volunteer Team Award — the adviser finalists are the Financial Planning Association’s Massachusetts chapter in Waltham for the Dana-Farber Cancer Institute; Peter Donovan and Wright Investors’ Service for The School for Ethical Education in Milford, Conn.; and Morgan Stanley Smith Barney advisers Scott Thole and Daniel Pierson for Chicago HOPE Dollars for Scholars.

These are indeed special people. I look forward to chatting with each finalist during the cocktail event and the dinner.

Every one of them exemplifies what is good about this business.

Jim Pavia is the editor of –InvestmentNews.

Related Topics: ING Group, Just Thinking