In all Chris Budd, founder Ovation Finance in Bristol, says organisers received over 330 responses from individuals and IFA practices wanting to help establish the institute.
He said: “This is way beyond our expectations and demonstrates that there is a real passion within the Financial Planning community for focussing on helping clients to become happier.
“We can therefore confirm that this initiative is going ahead.
“We have emailed everyone who responded with our next steps and are in the process of setting up the infrastructure, such as a regional network.”
“Unfortunately, to use the word ‘Institute’ in a company name requires the prior approval of the Secretary of State and this is only given for existing entities.
“We will therefore be called the Initiative for Financial Wellbeing until this approval is given.”
In addition to setting up a regional network, four initial streams were formed:
• Research (into the principles of money and happiness)
• Develop tools for Financial Planning firms to use this research in their businesses
• Connections with organisations both within and outside the financial services community
• Organise events, specifically a regional network and an annual conference
Those interested in getting involved should register their interest by visiting www.initiativeforfinancialwellbeing.org.uk, or email This email address is being protected from spambots. You need JavaScript enabled to view it.