Shawn Brayman, president of Linday, Ont.-based financial planning software firm PlanPlus Inc, has won one of the premier research awards for 2007 in the area of financial planning.
Brayman was one of two entrants to be named for a Silver Level Award by the Financial Frontiers Awards, an annual world-wide competition sponsored by the Journal of Financial Planning.
There were no Gold Level winners announced in the current year.
The Financial Frontiers Awards are cash awards for outstanding research papers in financial services. The awards were created to encourage and showcase new ideas and practical solutions that can help financial advisors and their clients. Amid a sea of change in an increasingly sophisticated financial services industry, the awards program encourages thought leaders to share their latest research for the benefit of all advisors and their clients. Submissions may extend current theory or practice, identify new areas of inquiry, or be original insights on the science of financial planning and wealth management.
Shawn Brayman won the Silver Award with his research paper introducing a new mathematical algorithm that allows a replacement for Monte Carlo Simulations, a technique used by many advisors to determine the sensitivity of an investment or financial plan to variability in mortality or investment return assumptions. The new methodology can calculate the sensitivity algorithmically, making it faster and more accurate than current methods. The paper is entitled “Beyond Monte Carlo Analysis: A Replacement for a Poor Practice”.
Each competitor to the competition is asked to submit a research paper ranging from 3,000 to 5,000 words in length. The research must represent cutting edge ideas and perspectives. The ideas and solutions should inspire and benefit the financial planning industry and must be original.
“I am thrilled with the recognition of this award for a few reasons”, said Brayman in a news release. “First, I believe this type of research is a reflection of the growing development of financial planning as a profession. Secondly, Monte Carlo Simulations are a complex technique subject to misunderstanding. I hope the new methodology I have outlined will lead to a better caliber of financial planning in the industry.”
Brayman’s article will be published in the Journal of Financial Planning in December. He will be presenting his award winning research paper at the Financial Planning Association’s Conference in Seattle, from September 8 to 11.
PlanPlus Inc. is a Canadian firm that provides wealth management and financial planning software solutions to financial services firms worldwide.
PlanPlus president wins international research award
Brayman research paper introduces new mathematical algorithm that allows a replacement for Monte Carlo simulations
- By: IE Staff
- July 17, 2007 July 17, 2007
- 09:25