Resources for Financial Planning and Retirement Advice

At Money Wise UK, we believe in empowering advisers and individuals with the right tools. If you want to enhance your advice process without external consultancy costs, here are some excellent, free resources to help you.

Consumer Duty Alliance (CDA)

The Consumer Duty Alliance is an independent, not-for-profit professional body supporting the UK retail finance sector in implementing the Financial Conduct Authority's (FCA) Consumer Duty requirements. Established in March 2023, it promotes good consumer outcomes through collaboration among advisers and firms committed to the highest standards.

Key Resources Available:

  • Diagnostic and Benchmarking Tools: Self-assessment resources to evaluate Consumer Duty compliance.

  • Guides and Checklists: Practical support on delivering fair value, supporting vulnerable clients, and enhancing consumer understanding.

  • Forums and Events: Opportunities to learn from peers and engage directly with the FCA.

Membership:
Free for individuals and firms. Members can display a digital badge to demonstrate their commitment to consumer outcomes.

🔗 Visit Consumer Duty Alliance

Mabel Insights

Mabel Insights is a UK-based fintech platform designed to support financial advisers with investment research, due diligence, and financial planning—completely free to use.

Key Services Include:

  • Mabel Ratings: Access to 1,500+ risk-rated portfolios from 80+ Discretionary Fund Managers (DFMs).

  • Risk Profiling: Tools to assess client risk tolerance.

  • Cashflow Modelling: Tax-optimised planning models.

  • Client Investment Reports: Customisable, white-labelled client reporting.

Industry Partners Include:
AJ Bell, Brooks Macdonald, Oxford Risk, IBOSS Asset Management and more.

🔗 Visit Mabel Insights

Recommended Reading

The Financial Wellbeing Book by Chris Budd
Focuses on aligning finances with personal values for true financial wellbeing. A practical, action-oriented guide, with all proceeds donated to Penny Brohn UK.

The One-Page Financial Plan by Carl Richards
Simplifies financial planning to a single-page strategy, focusing on clarity, core values, and actionable steps.

Breaking Through: Building a World-Class Wealth Management Business by John J. Bowen Jr.
Outlines seven key strategies for advisers looking to work with affluent clients and deliver exceptional, client-centric wealth management services.

The Little Book of Behavioural Investing by James Montier
Explores how psychological biases affect investment decisions and provides strategies to counteract impulsive behaviours.

Talking to My Daughter About the Economy by Yanis Varoufakis
An accessible, story-driven explanation of capitalism, debt, inequality, and how economic systems can evolve.

FCA Thematic Review of Retirement Income Advice

In March 2024, the FCA released a thematic review examining the quality of retirement income advice across the UK.

Key Findings:

  • While most advice was suitable, some clients faced unnecessary charges or loss of valuable guarantees.

  • A significant number of firms failed to assess the sustainability of clients’ income withdrawals.

  • Cashflow modelling was sometimes based on poor or unjustified assumptions.

FCA Actions:

  • A "Dear CEO" letter urging firms to review and improve retirement advice processes.

  • Launch of the Retirement Income Advice Assessment Tool (RIAAT).

  • Continued supervision of retirement income advice practices.

🔗 Read the full FCA Thematic Review

Money Wise UK Podcast

🎙️ Looking for more insights?
Listen to the Money Wise UK podcast featuring conversations with leading financial industry professionals. We discuss retirement planning, investment strategies, financial wellbeing, and more.

🔗 Explore the Money Wise UK Podcast

Important Information

The resources and books mentioned are intended to provide general information only. They are not intended to constitute financial advice or recommendations. Before acting on any information, you should consider its appropriateness to your circumstances and seek advice from a qualified financial adviser if necessary. Money Wise UK is not responsible for any decisions made based on the content shared in these resources.