Representing the East Midlands region, Mr Mullins was named small and medium enterprise (SME) director of the year.
This is open to firms with fewer than 250 employees and turnover of less than £5m. Awards are judged based on financial performance, employee engagement, innovation, reputation management, education and training and ethical behavior and community engagement.
He was nominated for his work at Fiscal Engineers which is an Accredited Financial Planning Firm based in Nottingham which Mr Mullins set up in 2000.
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He will now go forward to the National IoD Director of Year awards on 11 October.
Mr Mullins said: "I feel honoured to have been nominated for this award and particularly proud of the team effort that goes into what we deliver for our clients at Fiscal Engineers. We have a great team and I really must make mention of the team spirit that underpins all we do as a firm."
Mr Mullins is a former winner of the Institute of Financial Planning's award David Norton 'Building Excellence' award in 2011 and the Tony Sellon 'Good Egg' award in 2012 for his work on the Question of Trust campaign. This campaign was set up to improve trust levels in the financial services industry.

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