Expert: Andy Davies - Momentum
Facilitator: Innes Miller - Scydonia
Finding 1:
Financial wellness is growing in importance as the government and employers recognise the implications of people feeling under stress due to the state of their employees.
Finding 2:
Financial education at school and early in life is key to creating financial wellness and awareness of basic money management.
Finding 3:
There is an acceptance among society that it is ‘OKAY’ to be not so good at money management and financial planning. This leads to change by raising awareness of the financial and mental benefits of future wellbeing.
Finding 4:
Consumers are now realising that saving is important in the UK and US. The culture of saving is gradually returning. Technology has a key role to play in making it easy for people to improve their financial wellness.
Finding 5:
By working with a financial adviser, people cannot only improve their financial wellbeing but also their mental wellbeing as they are safe in the knowledge that their future position is strong.
What are the next steps?
Owen James should look to help promote the research and provide advisers with ideas on what they can do to raise the importance of financial wellbeing in the communities in which they operate.
