The organisation says that the Institute is for anyone in financial service who wishes to help their clients to become “happier not just wealthier.”
The ‘not-for-profit’ Institute will research the principles of money and happiness and develop ways in which Financial Planning and advice firms can use this research in their businesses.
It will also collaborate with other organisations inside and outside the financial services community and organise events to spread the knowledge.
Mr Budd, who founded Ovation Finance in Bristol and also authors books about wellbeing and other topics, said: “Following the huge interest in the inaugural Financial Wellbeing Conference in June this year, I am delighted that so many people want to take this subject forward.
“We are at a pivotal moment for Financial Planning in the UK. There are many organisations, both new and well established, that are providing a hugely positive force for change and improvement.
“The goal of establishing this Institute is to bring people together under the umbrella of money and happiness, and we look forward to working with these other organisations.”
Catherine Morgan of The Money Panel said: “This new institute is a huge step towards bringing better outcomes for consumers with the focus on financial wellbeing. I can’t wait to help shape the future of this profession together.”
Adam Owen, President of the PFS, said: “Financial Wellbeing is an important part of the landscape when it comes to ensuring good consumer outcomes, increased engagement and greater public trust.
“Having an institute dedicated to researching this area and promoting good practice should bring real benefits to the profession and I am excited to see how it develops."
The initial supporters of the Institute are:
Colin Low Kingsfleet Wealth
Nick Platt Henwood Court
Nick Miles Med-Ex Financial Advisory Services
Matthew Aitchison Clear Vision Financial Planning
Anthony Villis First Wealth
Julie Lord Magenta Financial Planning
Gianpaolo Mantini Higgins Fairbairn Advisory
Karen Taylor Elite Financial Consulting
Tom Morris Ovation Finance Ltd
Chris Budd Ovation Finance Ltd
Adrian Kidd Ovation Finance Ltd
Nicholas Lee Financial Life Plans
Catherine Morgan The Money Panel
Richard Ellis Ellis Davies Financial Planning Ltd
Nick Davies Ellis Davies Financial Planning Ltd
Phil Billingham Perceptive Planning
Shannon Currie Perceptive Planning
Danielle Lecomber Hall & Costello Wealth Management
Rachel Stewart Stewart Wealth Management
Richard Allum The Paraplanners
Nathan Fryer Plan Works Ltd
Chris Daems Cervello Financial Planning
Raj Shah Blue Wealth Capital
Darren Cooke Red Circle Financial Planning
Alan Smith Capital Asset Management
Phil Bray Yardstick Agency
The Institute can be emailed at This email address is being protected from spambots. You need JavaScript enabled to view it.