The Initiative for Financial Wellbeing
The Initiative for Financial Wellbeing (IFW) is the brainchild of author and financial adviser Chris Budd and at the start of 2020 Henson Crisp became a founding member. The purpose of the IFW is to support financial advisers to help guide their clients to become not just wealthier but also financially happier. Further information can be found at here.
The Five Key Principles of the Initiative of Financial Wellbeing are:
1: Explore and promote the relationship between money and wellbeing
2: Provide a meeting point for the sharing of ideas
3: Influence institutions that deal with customers on a mass scale
4: Provide a resource for the financial services community to help those who cannot afford to pay for it
5: Influence financial education to focus on wellbeing
What is the Definition of Financial Wellbeing?
The IFW defines financial wellbeing as; ‘how money can be used to increase our happiness’.
In order to achieve this, members have to offer clients guidance and thoughts around establishing their understanding of money in such a way that it is likely to lead to happiness and not just wealth.
Money and Mental Health – The Link
There is a clear link in society between money and our mental health and wellbeing.
The IFW will be supporting research into exploring this link with the aim of helping to foster awareness of issues.
The IFW aims to design solutions to support those qualified to help clients navigate to personally better financial resolutions.
Becoming a founding member of the IFW is vitally important to both myself and the team at Henson Crisp. We offer our clients financial guidance, products and solutions geared to supporting their circumstances, desired outcomes and entire financial life journey. The IFW key principles reflect our client approach and we look forward to playing an important role in assisting the IFW develop further over the coming years, helping to shape the agenda.”
Jonathon Crisp, Managing Director