Financial wellbeing is more important than ever
The financial lives of your people have changed. The cost of living has risen 20% in recent years, and there's more disinformation than ever before, but we still don't learn learn about financial matters at school.
The average increase in living costs since the Covid-19 pandemic
The number of employees who say money worries are their No. 1 cause of stress
Employees are twice as likely to leave their job when financially stressed
Lack of financial education
The school curriculum still fails to provide a sufficient level of financial literacy for those entering the workforce, with the majority of graduates unaware of how pensions, mortgages, or even income tax works.
Barriers to support
Expert financial support continues to be inaccessible to the vast majority of people, with individuals needing £250k+ of investable assets before they are deemed worthy of expert financial support. At the same time, the industry itself is antiquated and out of touch.
Increased cost of living
Prices have increased by more than 20% since the pandemic, putting pressure on household budgets, increasing financial stress, and causing employees to radically change their plans.
Greater risks
We live in an age where there is more information and disinformation than ever before, which means greater risks to employees from fake social media advice, debt traps like Buy-Now-Pay-Later, and risky investments like Cryptocurrencies.
Challenging situations
Employees are navigating a landscape that makes them significantly worse off than previous generations, with higher education costs, underfunded pensions, and a property ladder that is out of reach for many.
