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YourMoney.com Awards: How we pick our personal finance and investment winners

YourMoney.com Awards: How we pick our personal finance and investment winners
Paloma Kubiak
Written By:
Paloma Kubiak
Posted:
24/01/2024
Updated:
25/01/2024

Picking a provider can be difficult. Whether you’re choosing a new current account, setting up an ISA or investing for the first time, the consumer personal finance space is so competitive that identifying the right product or firm can take time and effort.

One way YourMoney.com tries to help is through our prestigious awards, with the Personal Finance Awards in their 26th year, making them the longest-standing in the industry.

Our standalone Investment Awards are now in their third year, recognising firms for product innovation, user experience and support for both seasoned and beginner investors.

The 2023 winners have been announced, highlighting the firms which have excelled in their field over the past 12 months.

But the 2024 awards are nearly upon us, so keep an eye on our website, Twitter (X) feed (@YourMoneyUK), LinkedIn and Facebook pages for more awards information on entry deadlines.

YourMoney.com Award winner process

These awards are hotly contested. We receive hundreds of submissions each year from companies across the personal finance spectrum.

Post Office, Halifax, Nutmeg and Hargreaves Lansdown are just some of our previous winners.

We’re not saying you should choose a provider solely because they are a YourMoney.com Award winner. But knowing a firm has come out on top, having gone through our rigorous judging process, may help you narrow down your shortlist.

The way our winners are decided is the main reason so many firms – both high street names and challengers – vie for one of these highly coveted accolades.

You can’t buy an award. We don’t only give awards to our advertisers or contacts. We use a tried and tested process which has made our awards the most trusted in the industry. At their heart is you, our reader, as you are the ultimate people who decide the winners.

The first thing that differentiates us is we recognise the different ways the general public access their providers, which makes sense in today’s digital age. With different application, account management and contact channels, firms that enter are required to explain how they provide customers with appropriate support and guidance.

Price transparency is paramount for consumers who want to know exactly how much they will need to pay for a product or service before committing, and so firms are also assessed on their fee structure, overall cost and clarity in presenting the information to customers.

For each category there is a two-stage judging process. First, firms are short-listed based on competitiveness of price and structure.

Each category shortlist is then judged by a panel of readers who mystery shop each company and benchmark the quality of service provided in each product area.

This is the core of the awards, so you know that every winner has been chosen on merit, and because they really are the best in their field.

Congratulations to all of our award winners, and for our readers, we hope the awards help you navigate your personal finances.