Centralised Retirement Propositions, or CRPs for short, have gained a lot of attention recently. The problem however, is that there doesn’t appear to be any commonly agreed definition of what a CRP actually is! Is it a fancy term for a decumulation Centralised Investment Proposition (CIP), is it just an acronym to describe retirement advice or is it all just completely fictional?
This presentation aims to answers these burning questions as well looking at the regulator’s crusade on retirement income advice. We’ll also explore the intricacies of CIP and CRP frameworks, their relationship with the PROD rules and look at how the financial planning community has been adopting and integrating these models within formal advice processes.
The presentation also covers some practical steps that financial planners can take in creating and managing a robust and complaint CRP approach for retirement clients against the backdrop of regulatory disturbance and Covid-19.
Learning objectives:
• Recognise the FCA’s concerns about retirement income advice
• Develop an understanding of the relationship between the PROD rules, centralised investment propositions (CIP)s and centralised retirement propositions (CRP)s
• Identify the various components and processes within a CRP
• Understand how a CRP approach can deliver robust client planning