General questions

What is Moneyhealth?
Moneyhealth provides every employee in your organisation with access to confidential, one-to-one personalised financial guidance from a professional financial coach.

But we’re more than that. We’re a force for cultural change in the workplace.

We’re normalising the conversation around money, and making professional support more accessible.

The truth is, we don’t learn about financial matters in school. And it can be hard to talk to friends, colleagues, or even family members about our concerns.

That’s why financial worries are the number one source of stress at work, and the number one reason why employees leave.

Moneyhealth is real human support, from qualified professionals with FCA-recognised qualifications.

Expert help that’s available to all, not just those who can afford it.

How does Moneyhealth help my workforce?

Financial matters affect us all. In fact, life is full of them, from entering the workforce to renting, homeownership, having families, saving for retirement and legacy planning – and the boiler breakdowns and car services in between.

But financial matters can be the “elephant in the room” at work. Something many of us are thinking about, all of the time, but without someone to talk to. In fact, 9/10 employees have never spoken to a financial expert. This makes them more stressed, less productive, and more likely to leave their job.

Moneyhealth changes that culture at your organisation, and gives your people expert support from a qualified professional for the very first time, to help them make the very best financial decisions throughout their life.

This helps them deal with any concerns, improve their financial security, engage with their benefits, and feel more settled at work.

Moneyhealth is all-in-one support. Including goal tracking, budgeting tools, workshops, webinars, account connections, healthchecks, and personalised resources. It’s a complete solution that’s fast & effective.

That means individual support for your people, including pension scheme engagement, understanding their tax, equity plan education, planning for a family, dealing with debt, building an emergency fund, and everything in between.

Why should I consider Moneyhealth above other solutions?

Financial stress is one of the biggest drivers of poor mental wellbeing among UK employees and yet, our own research reveals that 58% of employees do not tell their employer about their financial worries.

The stigma around money means that these employees often seek out inappropriate guidance on money, for example from social media or well-meaning friends, which can put them at risk.

And financial advice, historically the only route to professional financial guidance, costs £180 an hour and is often only available to very wealthy employees.

So without access to a professional, most employees have to suffer in silence, impacting absenteeism, productivity, and retention.

Moneyhealth tackles these problems by providing professional financial guidance for every employee, all the way from new joiners to CEO.

And we only provide support from finance professionals who hold FCA-recognised qualifications, which means it’s professional, risk-free, effective support, for all the key moments throughout your employees careers.

By providing a professional to every employee, you’re giving them the best opportunity to take control of their financial wellbeing and protect their future.

That’s important for them, personally, but also for your business – because happy, healthier employees with better financial wellbeing are more likely to be engaged and less likely to leave.

How much does Moneyhealth cost?
Our fees are typically based on the headcount of the organisations we support, which means every employee can access our professional financial coaching and dedicated platform for all-in-one support.

The price may depend on any additional services that are included as part of the package.

With Moneyhealth there are no hidden costs, and our coaches are completely impartial for your peace of mind. This means that they have no products to sell, and no incentives other than providing dedicated professional support to your people.

Is the use of Moneyhealth confidential?

Yes, the entire platform is a confidential, safe space for employees to get the support they need. We ensure that all sensitive information provided by employees, and conversations with coaches, are encrypted, while our coaches also adhere to the highest ethical standards from the Financial Conduct Authority (FCA).

As part of our service as an employee benefit, we will on occasion provide fully anonymised and aggregated reports to employers to surface the impact Moneyhealth has on their workforce. These reports are also designed to surface insight around cohort-level financial concerns to better inform financial wellbeing strategies. It is not possible to identify individuals from the way this information is presented.

Is Moneyhealth regulated?

Bippit, who provide the underlying technology that powers the Moneyhealth platform, is registered by the Financial Conduct Authority (FCA) as a Registered Account Information Service Provider (RAISP), which means they are held to the highest standards for data protection and security.

Additionally, every coach on the Moneyhealth platform has FCA-recognised qualifications and adheres to a strict code-of-conduct from the FCA.

Is Moneyhealth considered a taxable benefit?

As part of having access to Moneyhealth, every employee receives information and support with their pension. When they first register, they receive illustrative pension guidance to help them understand their current position, which includes a forecast of their future pension situation.

This forecast is viewable on their home screen whenever they log in to the platform, and every conversation that they have with their financial coach includes guidance around their current pension and retirement situation.

This overarching employee experience means that HMRC’s EIM21803 exemption may be available for the services we provide, which includes a tax exemption of £500 per employee in each tax year.

Ultimately, it is the responsibility of your own organisation to determine whether an employee benefit is taxable or not, and as such you may wish to seek advice and document any positions taken on the tax treatment.

Moneyhealth financial coaching
Who are the Moneyhealth coaches?
Every Moneyhealth coach is a qualified financial adviser or financial planner, with FCA-recognised qualifications. They are strictly vetted in a multi-stage process, and have years of full-time study, along with years of experience working with individuals to help them achieve their financial goals. All coaches must undertake regular CPD (a minimum of 35 hours per year as set out by the FCA) and are governed by a code of conduct as set out by the FCA.
Are Moneyhealth coaches independent?
Yes. Our coaches are remunerated solely for their time and do not receive any other incentives. As such you can trust that they are focused exclusively on giving the very best guidance to your employees, at all times.

Moneyhealth offers holistic support covering all financial areas and the majority of the time we can support individuals with all of their financial needs across their lives. But we do recognise that in some cases, people may have additional financial needs that are best supported by specific specialist services. Our External Service Signposting Policy (available on request) ensures that your employees are signposted to these services in a fair, impartial, and consistent way.

This includes regulated and specialist financial advice, legal services, mortgage brokers, tax advice, and debt counselling. This policy reinforces our commitment to providing people with the most effective financial guidance, whether that is best delivered through Moneyhealth in whole or via another external service provider.

What qualifications do your financial coaches have?
Our coaches are all professional financial advisers or financial planners, holding qualifications from the leading professional bodies in the UK – Chartered Institute of Insurance (CII) and the Chartered Institute for Securities and Investment (CISI).

The majority of our coaches also hold additional specialist qualifications from other institutes, further demonstrating the incredibly high bar of knowledge, professionalism, and experience of the team.

Over half of our coaching team are in fact Chartered Financial Planners, which is the pinnacle of the personal finance profession and demonstrates years of full-time study and practical experience with clients.

Do your coaches provide financial advice?
No. Financial advice is a regulated activity which includes recommending specific products and services.

Moneyhealth’s financial coaches, who are all professional financial advisers or planners, help your employees understand how things work, what their options are, the pros and cons of each solution and the various paths forward, but they do not recommend specific products.

Our coaches remain impartial, fully independent, and incentivised solely with compensation for their time.

How will Moneyhealth coaches interact with my team?
All employees get unlimited contact time with their coach.

This includes confidential, one-to-one video calls that can be scheduled in advance.

Employees can also message their coach via the Moneyhealth platform at any time and receive a response within 48 hours. This gives the coach enough time to conduct any necessary research and come back with an informed view.

This is not an instant messaging service: we value well-considered, insightful and valuable answers above immediacy.

What availability is there for video calls with coaches?
We provide access to a diverse pool of professional financial coaches across the UK, which means your employees will have access to a range of daytime slots and out-of-hours slots to suit their schedule.

We work with many organisations and cohorts that have specific shift patterns or requirements, and are always able to accommodate demand. If you contact our team, we will discuss the needs of your employees throughout our conversations.

How do you pick the right coach for each employee?
When your employees register on the Moneyhealth platform, we ask them a series of questions that guides our matching system.

If they tell us, for example, that their financial goals are to get on the property ladder and start a family, we’ll match them to one of our coaches with specialisms in mortgages, income protection, life insurance, and navigating joint finances as the family grows.

Whatever the employee’s goals, we gain enough insight in the sign-up process to ensure they’re matched with an expert who can help them in the most effective way.

Will employees always speak to the same coach?
Yes. The best way to help employees make long-term progress with their financial lives is by allowing them to build a long-term relationship with a financial expert.

Our technology matches individual employees to individual coaches based on a wide variety of factors to maximise the chance of a successful relationship forming.

Can an employee change financial coaches?
We have refined our coach matching service over time to incorporate many data points and we are confident that in most cases, there will be a strong basis for building a trusting, open, lasting relationship to facilitate the very best financial outcomes.

However, if things change, or if an employee feels like it’s not a good fit, we can swap them to someone who’s more appropriate. All they need to do is visit the support section in the Moneyhealth platform or email Bippit, who provided the underlying technology of the Moneyhealth platform, on [email protected].

Service & security
Are you ISO27001 compliant?

Yes. Bippit, who provide the underlying technology of the Moneyhealth platform, has achieved and retains full ISO27001:2022 accreditation. Our information security processes are regularly audited by external organisations to ensure they are compliant and effective. More details are available on request.

How do you protect user data?

By following ISO27001 and FCA security standards, Bippit – who provide the underlying technology of the Moneyhealth platform – encrypts and secures user data to the same standards as banks and other financial services institutions.

Bippit’s security is tested with regular external security penetration tests, as well as regular internal and external audits to monitor and manage Bippit’s security, data protection, and risk management.

Bippit is registered with the UK’s Information Commissioner’s Office and fully complies with the UK Data Protection Act as well as the GDPR. Further details are available in our privacy policy.

Implementation & Launch
How long does launching Moneyhealth take?
Our tried and tested implementation process makes it easy to launch Moneyhealth in your organisations. There is no heavy admin lift or integration work, which means we can launch to much shorter timescales than other enterprise financial wellbeing solutions.

Our Customer Success team will work with you to develop a launch plan that maximises uptake and engagement among your team at Go Live, and helps you meet your objectives quickly. Our process is scalable and can be tailored to your environment and working patterns.

How do employees access Moneyhealth?

Moneyhealth is available as an app on iPhone, Android and as a standalone Web app that can be accessed via desktop computers, tablets, and phones. The experience is the same across all platforms.

How do my employees sign up for Moneyhealth?
Employees can sign up for Moneyhealth via our Web app, iPhone app, or Android App. The process takes about 90 seconds and involves entering some basic personal information, as well as answering some initial questions around financial goals.

This information is used to match the employee with their own professional financial coach, chosen from our extensive pool based on the likelihood of them being able to build a long-term relationship with the employee and maximise the impact on their financial decision-making.

Once signed up, employees can access the full range of services across the Moneyhealth platform, including goal tracking, budgeting tools, workshops, webinars, account connections, healthchecks, and personalised resources.

Once you’re live
What happens if we change our company headcount?
The cost of Moneyhealth for the organisations we support will typically increase or decrease proportionally if the headcount changes. This is something that we check on a regular basis in-line with our customer contracts to ensure that you’re not paying more than is needed.
How do we know if Moneyhealth is having an impact?
Our Customer Success team will share metrics that detail engagement rates, usage patterns and anonymised insights into your team’s financial health.

As well as allowing you to see the impact Moneyhealth is having, we will use this to identify areas where your team might need more focused support – and help you develop a plan to deliver it.