Features include a cutting-edge digital platform with integrated financial counselling provided by licenced professionals.
This is because the cost-of-living crisis and skyrocketing borrowing costs continue to put a strain on household finances.
Employers can use the service to provide staff at all income levels, from trainees to senior executives, with a comprehensive approach to successful money management.
The website gives workers all the tools they need to face their financial issues, including financial coaching with a licenced financial planner and thorough advice on saving, budgeting, and debt.
It will also include credit scores, tax, mortgages, financial planning, investing, and much more.
In turn, this will aid employees in concentrating on their work, increasing production, and benefiting the business.
A recent Evelyn Partners study of more than 500 business owners found that workers’ top priority is now their financial wellness.
The largest concern for their employees is their financial security in the face of the cost-of-living problem, according to nearly one-third of business owners (30%), which has led some responsible employers to look for a specific support programme.
Evelyn Partners’ Moneyhealth benefits:
- Financial counselling with a skilled expert;
- thorough assessment of their financial situation;
- full view of their wealth;
- customised financial strategy;
- study and guidance, and
- access to the Bestinvest investment platform directly
In addition, as a component of the overall Moneyhealth service, senior managers with complex financial affairs may utilise Evelyn Partners’ executive consulting service.
Through this service, they can access extensive knowledge in wealth management, financial planning, and tax with the option to sign up for formal, ongoing advice.
Employees of all income levels can also take advantage of a tailored programme of financial wellbeing workshops led by Evelyn Partners practitioners.
These workshops include guides, webinars, and in-person seminars covering a variety of important topics, such as pensions and protection, budgeting, saving, and investing.
As well as issues such as executives’ concerns about wealth preservation and transferring it on to the following generations in an effective way.
John Bunch, chief financial services director of Evelyn Partners, stated: “It is well documented that the UK has an ‘advice gap’, with millions of people not gaining access to the financial support that they need. We believe that employers have a critical role to play in resolving this dilemma. Looking after the financial health of your workforce is more than just an employee benefit, it should be a strategic business objective. People worried about their finances are six times more likely to struggle with productivity and seven times more likely to be affected by absenteeism.
“Our new digital hybrid Moneyhealth service can enable staff members to tackle the fundamentals of personal finance, such as tracking expenditure, saving towards a goal, shifting debt to a 0% credit card, and taking advantage of tax-efficient savings products, such as ISAs and pensions with the support of a dedicated coach. Meanwhile, senior executives requiring bespoke guidance can tap into Evelyn Partners’ extensive expertise on wealth, financial planning, tax and professional services.
“Our full Moneyhealth employee financial wellbeing proposition provides businesses with a valuable benefit to offer their staff to help them improve their personal finances at all levels of the organisation. A workforce with healthy financial habits is likely to be an engaged and productive and focused team, creating a win-win scenario for all parties.”