## Positive Money Conversations with Octopus ## octopusmoney --- When it comes to financial wellbeing, employers and employees speak different languages. There’s a fundamental disconnect. **EMPLOYERS THINK** **BENEFITS** **EMPLOYEES THINK** **LIFE MOMENTS** - Pay New job - Pension Buying a home - Protection Parental leave - Bonus Bereavement --- ## People are your biggest investment. But often, the money you spend falls short. It’s not understood. It’s rarely maximised. **66%** employees don’t think their company cares about their personal finances* **1 in 4** employees say their manager is awkward when talking about money* BUT... **58%** of HR leaders believe they create an atmosphere where employees feel comfortable discussing financial concerns° *Octopus Money Research, May 2023, n=4,000, °HR Ninjas --- ## And to make things worse, we’re told not to talk about money. **7x** People are 7x more likely to tell a stranger how many sexual partners they've had, whether they've had an affair, and whether they've ever had an STD, than to talk about money.* *University College London, 2015 --- ## This is why we see... **Money Stress** “I don’t have enough to keep up with rising costs…” **Salary Hunting** “If only I can make a bit more, I’ll be closer to the life I want…” --- ## “Financial wellbeing” has given rise to hundreds of new apps, filled with content. ## So why aren’t they making an impact? **One size doesn’t fit all** – employees want to know what’s important for them Most people aren’t self-directed about money – **they want** someone to talk to People actually want accountability – someone to help them **follow through** --- ## The missing piece of the puzzle? A real person to help. We give you the best financial education and tools in the market. But with a human touch at the centre of it all. Great content Great services Great tech --- ## Here’s how we do it --- ## We give every employee a dedicated “GP for their money.” - with a Money Coach for most people - with a Financial Adviser for some with more complex circumstances (e.g. senior managers and leaders) --- ## Access to all the resources they need to action their goals ## Education Bite-sized and accessible - ✓ Monthly webinars - ✓ Content hub - ✓ Money tips newsletter - ✓ Money team helpline ## Access to Market Leading Services We pick the best in the market - ✓ Free Mortgage Advice - ✓ Discounts on wills - ✓ Protection check - ✓ Pension check - ...and more coming soon --- ## We start by talking about their hopes and dreams. - Holidays - Home - Freedom to retire early - IVF treatment - Furry friend --- ## We create an interactive forecast and plan that shows them how to get there. - Conversation - Money Plan --- ## We define specific actions and add real accountability. ## Actions 1. New budget 2. Increase pension 3. Increase emergency fund 4. Upgrade savings account 5. Consider investing --- ## We give them a digital home for all of it. - Learn by interacting with tools - Explore different scenarios and trade-offs - Go deeper with bite-sized content and jargon-free webinars - Get step-by-step help through your actions --- ## Employees love that it’s 100% personalised to them ## Conversations - “I've very happy I met my coach…she totally understands my goals.” - “The plan has opened my eyes to what is possible.” - “I feel really excited to start taking action and to work towards my goals.” ## Achievement - “We just got the keys to our new house. We can’t thank you enough for everything!” --- ## What makes us different - Certified B Corporation - FCA Registered - ISO 27001 Certified - Associate Firm Personal Finance Society - INITIATIVE FOR FINANCIAL WELLBEING The London Institute of Banking & Finance - 1st Accredited Training Program in the UK - More ★★★★★ employee reviews than any other provider - Only accept 5% of people who apply to become coaches - Every call is recorded, with a dedicated team for monitoring and review --- ## We’ve built the UK’s most diverse network of accredited money coaches and financial advisers --- ## Friendly, non-judgmental people who meet you wherever you are, with whatever you want to achieve - Helping grads get off to the right start - Supporting women to become financially confident - Helping parents plan for family finances - Advising high earners to maximise their money --- ## We’re all about transforming lives We measure success and share with you along the way ## EMOTIONAL - Employee satisfaction - Feeling more financially confident - Feeling they’ve maximised their overall pay and benefits ## FINANCIAL - Number of positive financial actions employees have taken - Building an emergency fund - Introducing a savings habit - Optimising their pension - Improvement to “net worth” over time --- ## The results speak for themselves **1000s** of 5-star reviews **55%** increase their savings **100%** create a retirement plan **25%** increase their pension contributions **51%** reduce their debt --- ## Companies work with us to make their pay go further ## £289,326 Better off in retirement This figure reflects our average client - with a salary of £54,000, age of 37 and retirement age of 68. And the average recommended improvements we've made across our client book. --- ## How does it all work? --- ## When we launch, everyone automatically gets access to our Basic Membership. - Matched with a dedicated expert - 1 free Starter Session - Monthly webinars - Content hub - Money tips newsletter - Money team helpline - Free mortgage advice (worth £500) - Discounts on wills - Free protection check ## So much value... free for all employees! --- ## Every employee gets a free session. And we make sure they speak to the right person for their needs. - Starter Session Free for everyone --- ## Then, they can get their custom money plan. - Starter Session - Planning Session - Actions Sessions Free for everyone Employees opt-in --- ## Employees can choose to get ongoing support or investment advice if they want. - Starter Session Free for everyone - Planning Session Employee opt-in - Actions Sessions Ongoing Advice or Support Employee opt-in – only if they want additional coaching or investment / pension advice --- # We’ve already got your launch plan sorted – with ‘drag and drop’ templates for every stage ## BUILD BUZZ - ✓ Leadership Team Email - ✓ Manager Briefing Packs - ✓ Mental Health First Aider Briefing Packs - ✓ Posters and Screensavers - ✓ LinkedIn Post ## LAUNCH WEEK - ✓ Team Webinar - ✓ All Company Email - ✓ 1-to-1 Introduction Emails ## ONGOING - ✓ Monthly Webinars - ✓ 1-to-1 Introduction Emails for New Starters - ✓ Work closely with our Success team to keep your employees engaged - ✓ Feedback and insights on your employees’ financial wellbeing --- ## What it costs --- ## Basic - ✓ Dedicated coach or adviser - ✓ 1 free Starter Session - ✓ Monthly webinars - ✓ Monthly newsletter - ✓ Access to content hub - ✓ Money team support - ✓ Free mortgage advice - ✓ Free protection check - ✓ Discounts on wills £1 per FTE per month (+ VAT) Paid by employer for all staff ## Plan My Goals - ✓ Custom Money Plan - ✓ 1 x Money Plan Session - ✓ Up to 2 Money Plan Check-ins - ✓ Personal Action Tracker £299 £14-17 p.m. for 12m Paid by employee if opted-in Pass on a 33-42% “discount” to employees through salary sacrifice --- ## Ongoing services for employees ## Ongoing Support - ✓ Continued access to our tools - ✓ Up to 1 hour with your coach £30 per quarter (cancel anytime) ## Ongoing Advice - ✓ Add unlimited new money goals to your plan every year - ✓ Up to 3x 1-to-1 sessions every year - ✓ Get holistic advice for the best things to do with your investments and pensions 0.75% per year (£299 minimum) --- ## Appendix --- 1-to-1 Budgeting Bootcamp Available Employer Funded Some lower paid staff may not be ready to think about their future plans, because they feel stressed about the present. For these employees, we’ve created the UK’s first 1-to-1 budgeting programme for workplaces – focused on building good short term money habits. --- ## Plan My Goals **AMANDA** is 33 and is a developer at a software firm, making £80,000 a year. She’s about to get married and wants to make sure she’s doing the right things with her money and retire comfortably. Our coach and our planning technology can look at her finances, her short, medium and long-term goals and build an actionable plan to help Amanda live her best life in her later years. **SEEMA** is 45 and is a director at a law firm. Her pay is £165,000 with sizeable and variable bonuses depending on the deals she closes every year. One of our financial advisers can help build a plan for Seema and also provide ongoing advice to ensure she is managing her finances in the most tax-efficient way. **SALLY** is 34 and works in customer service in a bank. She has two children and makes £30,000 a year. She is struggling to make ends meet, but finds it overwhelming to even look at her bank account. A coach can help sit down with her, analyse her spending habits and provide clear steps to help give her peace of mind. **ADAM** is 25 and works in recruitment sales. He makes £60,000 in base pay and another £60,000 in bonuses in a typical year. But he is saving no money at all. A coach can help work through Adam’s attitudes to money, understand why and where he spends and help him start to build some savings habits. --- # Where's the catch? # There isn't one! But these are some of the questions we get asked. We've got short guides on each topic ... just ask and we'll send them over. | Question | Answer | | --- | --- | | Are you FCA-regulated? | Yes. However, our coaches do not provide regulated “financial advice”. | | Are your coach-introduction emails GDPR compliant? | Yes. We act as a data-processor, sending emails only under your specific instruction | | How does Salary Sacrifice work? | We can share files directly with your Payroll function, or we integrate with most major UK benefit platforms | | What's the difference between money coaching and advice? | Coaches don’t recommend specific products, nor have any financial incentive to do so. As a company, Octopus MoneyCoach does have automated low-cost product-advice services, that clients are welcome to use | | How do your fees qualify for tax-efficient salary sacrifice? | In 2017, a bill was passed allowing an employee to receive up to £500 p.a. of 'pension advice' as a non-taxable benefit. Check out EIM21803 | | How strong is your information security? | We are ISO27001 certified, and have successfully completed InfoSec due diligence with many large global employers |