Financial Wellbeing for Businesses

Wellbeing is characterised as the overall wellness of an individual and is comprised of three key components:

Physical wellbeing – This is about being safe, sheltered and in good health.

Mental wellbeing – This is where an individual realises their own potential, can cope with the normal stresses of life and is able to work productively.

Financial wellbeing – This is about having a sense of security and feeling in control of meeting day-to-day financial requirements, whilst having the freedom to enjoy life.

A person’s ability to live life effectively is ultimately dictated by these variables. Financial wellbeing is core to this and has been shown to directly impact an employee’s motivation, productivity and absenteeism. A study by the Money and Mental Health Policy Institute discovered that 67% of respondents struggled to concentrate at work due to financial pressures, whilst Aegon calculate that poor financial wellbeing costs UK employers £1.56 billion a year due to absenteeism, with 4.2 million days lost.

As a result, financial wellbeing is increasingly becoming an essential component of modern employee benefit offerings and it is now considered a ‘must have’ for those organisations looking to attract and retain employees of a high quality. We are able to support your employees with a 3-step program, which is structured to provide a range of information and guidance to help individuals at each life stage, to improve their financial position in the short, medium and long term. 

 

Level 1 – The essentials
Our essentials content is aimed at employees from all lifestages and with differing knowledge surrounding their financial positions. This is delivered as a workplace presentation.

Within our content we are able to provide overarching principles, concepts and information so that your employees can identify steps to improve their financial wellbeing over the short, medium and long term.

This is ideal for organisations looking to start a multi-step employee training program.

Level 2 – Additional insights
This content has been developed to build on level 1 and is focused at audiences who are in one of the three specified life stages.

By attending one of these sessions your employees will be provided with additional insight about the financial wellbeing considerations at their specific life stage.

Your employees can also expect to learn about the steps and contingencies required to prepare for the next life stage.

Level 3 – Financial advice
Typically, level 3 is where we would expect an individual to seek financial advice in order to further develop their financial wellbeing.

From this financial advice an individual can expect to develop and implement a personal financial plan that is tailored to reflect their own financial circumstances and objectives.

It is likely that your employee would seek this advice without your financial assistance.

Pricing for our financial wellbeing program starts at £600 per session, which we believe is a cost-effective way of addressing this issue when compared to the cost of providing individual support and the positive impact this can have on employee wellbeing.

If you would like further information about these services, or if you would like to arrange a workplace presentation for your employees, please do not hesitate to contact us on 01603 706 820. Alternatively, you can email us at employeebenefits@lffp.co.uk.

Useful resources:

For more useful information, please visit our resource centre.

What our clients have to say

 

‘I know you have done your best. You have kept in touch and your conversations have always left us feeling that you care.’

Financial Planner: Kerry Holmes

What our clients have to say

 

‘During this time [Coronavirus Pandemic], I have required support with my portfolio and needed questions answering. This has been fulfilled to my total satisfaction and reassurance’

Financial Planner: Liz Burrows

What our clients have to say

 

‘I have been very impressed by how I have been looked after by my personal financial adviser and I’m entirely happy with the service she has provided.’

Financial Planner: Sarah Maguire

What our clients have to say

 

‘[I have] no concerns because I know I can always contact my financial adviser either using email or the telephone. Very happy with the service recieived to date.’

Financial Planner: Liz Burrows

What our clients have to say

 

‘You have been invaluable, giving me peace of mind concerning my financial affairs for many years.’

Financial Planner: Graham Moore

What our clients have to say

 

‘Thanks for your help and the great service.’

Financial Planner: Nathan Munt

What our clients have to say

 

‘I am extremely grateful for your understanding and patient approach to dealing with this for me. Thanks Nathan.’

Financial Planner: Nathan Munt

What our clients have to say

 

‘Lucas Fettes have been dealing with our Health Insurance Cover forever and I would highly recommend them to deal with your requirements.’

*Part of a client referral

Financial Planner: Beverly Lee and Neil Clarke

What our clients have to say

 

‘I am delighted that Liz was recommended to me. She is super knowledgeable, incredible trustworthy, makes the world of pensions easier to navigate and to top it all off she is just a really great person.’

Financial Planner: Liz Burrows

What our clients have to say

 

‘My adviser made me feel he had my best interests at heart and I believe he organised the best retirement package for my needs.’

Financial Planner: Graham Moore

What our clients have to say

 

‘I am very happy with the professional and friendly service I recieved from Angela Carpenter of your Chichester office.’

Financial Planner: Angela Carpenter

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