Boring Money and Wealth Wizards have partnered to help people who fall into the advice gap.
The partnership will help the 12mn people in the advice gap who want help around retirement planning and will deliver a retirement planning calculator to Boring Money’s readers.
There will also be follow-up content, actions and independent pension provider reviews to support learning and informed choices.
The first pilot will see Wealth Wizard’s pension guidance capabilities integrated into Boring Money’s educational content and independent pension provider comparison tables to create a pensions guidance tool.
Boring Money chief executive Holly Mackay, said: “We know that people struggle with pensions and retirement, literally stumbling around in the dark. We wanted to partner with Wealth Wizards to combine their tech and diagnostic skills, with our ability to create targeted content journeys and pension best buys.
“Our combined skill sets help people not just to see where they are today, but also to understand how to improve their prospects and take action in a way which feels accessible and relevant to them.”
The firms said the partnership will explore how diagnostic customer journeys can be paired with independent, research-backed educational content and independently-curated product shortlists to support more informed consumer choices.
This comes as the FCA’s recent advice guidance boundary review proposed a strong emphasis on financial services firms using targeted support as one of three key pillars to deliver better customer outcomes.
Wealth Wizards chief executive Ben Hampton, said: “The industry now needs to look beyond the headlines of the advice guidance boundary review and turn its attention to how the review can practically unlock better consumer outcomes.
“By collaborating with Boring Money, we can weave together our complimentary skills to move from the regulatory aspirations to understanding how new forms of connected and actionable help can work in practice.”
alina.khan@ft.com
