Previous to starting the Financial Education website, I worked at PwC for 10.5 years, where I was a Director and led the national Defined Contribution Pension and Benefits business for a number of years.
As part of this role, I worked with some of the biggest global and UK organisations on their pensions, financial education and wellbeing programmes. It was doing this role that I learnt that there was a real need for financial education in the workplace.
And that’s where this journey begins……..
What my client experiences
Whilst working with employers, of all sizes, on developing pension and financial wellbeing programmes, 2 key problems consistently kept coming up:
1 – The need for unbiased guidance and education
Whilst looking for financial wellbeing solutions, for both employers and employees, it was clear that there were a lot of companies/providers offering a broad range of services. However, by scratching the surface, what I found was that many providers were pushing products and/or services, but under the financial wellbeing banner.
This in turn was causing confusion to the buyer (the Company) and the end user (the employee).
This lack of clarity around the purpose of what is being offered is often the reason for the poor uptake of financial wellbeing solutions that organisations put forward to their workforce.
I felt that there was a space to develop something that provided individuals with unbiased education and guidance. Our purpose is to treat individuals as individuals, first and foremost, and not as a consumer to push products on to.
Likewise, feedback from many employers was similar, and there was a clear demand for help, which was genuinely impartial.
And that is how the idea for financialeducation.co.uk was born.
2 – A lot of people need help
It is great to see many organisations are now adding financial wellbeing and education as a core component of their overall wellbeing strategy.
Through employee presentations, and one-to-one discussions, what I often saw was that many people needed help. More often than not, the employer is oblivious to the financial and mental struggles that individuals are having outside of the workplace. The reason for this is simply that people are fearful of opening up, to their employer, about their challenges.
That is why this site was created. By offering our Assessment tools, the ability to Analyse the results people are getting, and our programme that helps Educate the workforce, we are well placed to help employer’s help their people improve their overall financial wellbeing.
In particular, the Analysis tool provides an insight into the challenges people are having without them having to tell you. You can see the underlying data from the Assessment tool.
Like the tag line on our home page says, financial education is the journey you need to take people on, and the destination they need to get to is one of overall financial wellbeing.
We're on a mission to help
1 million people
Like any organisation with a mission, we want to aim big.
We know many people need help in improving their financial wellbeing, so through the tools and education programme that we have created, we want to improve the lives of 1 million people.
It’s as simple as that.
We believe we have the tools and processes to achieve this and we would like as many employers as we can to join us on the journey, particularly utilising the FREE tools that will be made available.
You can join us in our mission by contacting us using the options below.
Creating the 'Why'
The business case for a financial wellbeing programme
There have been many studies that specifically look at the financial benefits that a financial education and wellbeing programme could have on an organisation. In essence, what would a programme add to the bottom line of the business.
Many of these studies show that there needs to be a tangible and financial benefit to introducing and running a financial education and wellbeing programme. The studies provided the evidence as to how and why the case could be made.
To me, the business/financial case was always clear, and it’s great to see that the paternal case is now starting to catch up.
If you would like to know more about how we can help your organisation with the development and deployment of a financial education programme, or anything related to Defined Contribution pensions and savings, please get in touch.