What is a Centralised Retirement Proposition (CRP)?
A Centralised Retirement Proposition (CRP) is a framework used by financial advisers to deliver consistent retirement advice to multiple clients. It's similar to a Centralised Investment Proposition (CIP), which helps firms deliver consistent investment advice and governance, but looks at more complex variables to focus on sustainable retirement income rather than just securing funds.
Our CRP resources
CRP checklist
A list of the key areas to consider when building your CRP. Ideal for validating
your approach or ensuring nothing is missed.
CRP template
A short, guided CRP template. This includes prompts and suggestions so you can populate each section with your own content.
CRP framework
A completed version of the CRP template, showing what a good CRP could look like. Use it as a benchmark or inspiration for your own version.
Editable framework
A fully editable version of our framework document. Tweak the content and tailor the language to make it your own.
Reviewing my old CRP document highlighted just how much compliance standards have advanced. Royal London’s guidance made it clear that updating my process was necessary, not just to meet compliance but to ensure flexibility and clarity for all my clients. Thanks to their support, I am creating a new, robust retirement process, one that will deliver better advice and drive growth for both my business and Royal London.
Tony Walker, IFA, from Lancashire-based Tony Walker Financial Planning Services
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How does a CRP work?
A Centralised Retirement Proposition (CRP) works by giving a firm a single framework that shapes retirement planning and retirement income advice across the business. It sets shared principles, builds a consistent advice process, and supports governance and oversight, helping advisers make consistent recommendations while still allowing for individual client circumstances.
A CRP can help firms:
- Define retirement planning principles
- Create a consistent retirement advice process
- Support governance and oversight
- Monitor retirement outcomes
- Evidence regulatory requirements such as Consumer Duty
Many firms use a Centralised Retirement Proposition (CRP) alongside a Centralised Investment Proposition (CIP). Together, these frameworks can help support consistency across both investment and retirement advice.
Why having a CRP is important
Having a Centralised Retirement Proposition (CRP) is important because it helps firms deliver consistent retirement advice, improve governance and support good client outcomes. It can also help advisers evidence their approach to retirement planning and demonstrate how advice is delivering value to clients.
How a CRP can help advisers
A CRP can help advisers:
- Deliver more consistent, high-quality outcomes
- Evidence compliance with Consumer Duty
- Build trust and confidence with clients
- Future-proof your business
- Plan before placement, with impartiality in mind
Our CRP framework is designed to help your firm deliver more than just advice. It helps you deliver confidence, clarity, and compliance.
A CRP framework must not only be compelling and easy to implement - it must be better than what’s already out there. That’s how we help firms deliver consistent, high-quality retirement advice and lead the way in measuring the intangibles that matter most to clients.
CRP vs CIP
A Centralised Retirement Proposition (CRP) and a Centralised Investment Proposition (CIP) are both frameworks designed to support consistent advice, but they have different objectives.
| CRP | CIP |
| Focuses on retirement planning and income strategies | Focuses on investment selection and governance |
| Supports retirement advice processes | Supports investment advice processes |
| Considers retirement income sustainability | Considers investment risk and return |
| Focuses on retirement outcomes | Focuses on investment outcomes |
Many firms use both a CRP and a CIP as part of their wider advice framework.
Frequently asked questions
Why do financial advisers need a CRP?
A Centralised Retirement Proposition (CRP) gives advisers a consistent and governed approach to retirement advice while still allowing recommendations to reflect each client’s circumstances.
How does a CRP differ from a CIP?
A CRP focuses on retirement planning and sustainable retirement income, while a CIP focuses on investment selection and governance.
How can a CRP support Consumer Duty requirements?
A CRP can help a firm document its retirement advice approach, monitor client outcomes and demonstrate how its governance supports the Consumer Duty.
How often should a CRP be reviewed?
A CRP should be reviewed regularly to ensure it remains aligned with regulatory requirements, client needs and business objectives.