As investment consultants transform into asset managers, some advisers have stuck to counselling, rather than managing, and Financial News has decided to reflect this by creating the new category of "Pure Consulting Investment Consultant of the Year".

Sticking to consulting rather than advising and managing avoids complaints from indignant asset managers, one of whom recently told Financial News - off the record: "Just because you watch Roger Federer playing tennis, it doesn't mean you can play like him."