Financial Wellness Group launches with a mission to improve the wellbeing of people with money worries

Today sees the launch of Financial Wellness Group, with the ambitious mission of improving the wellbeing of people with money worries, enabling them to ‘live more and stress less’.

Financial Wellness Group brings together three sector-leading businesses: Gregory Pennington, Freeman Jones and Wilson Andrews to create one of the largest providers of free debt advice, and solutions, in the UK. This year Financial Wellness Group will provide advice to over 35,000 people and 10,000 of its customers will become free of serious problem debt. The business manages £1.1bn of customers’ debt and will return over £90m to creditors in 2020.

Commenting on the launch, Deborah Ware, chief operating officer of Financial Wellness Group said: “There are now 9m people in the UK who are over-indebted. By putting the needs of these people at the heart of what we do, we are creating a service that is unique and goes well beyond what other debt advice and solution providers offer.

“We are taking a holistic view of customers’ ‘financial lifestyle’ – for example, by focusing on early intervention strategies to support people with budgeting and provide them with the tools and support they need to get back on track before they get to the point of needing a debt solution.

“We continue to work with customers who are on a debt solution to improve their financial capability and we will support customers when they leave us, to ensure that they are equipped with the confidence and skills to stay that way and build a healthy and sustainable ‘financial lifestyle’.”

Financial Wellness Group brings together the outstanding level of personalised customer service offered by its advisers and customer service team, with cutting edge technology. It has recently earned Feefo’s Platinum Trusted Service award for sustained excellent customer feedback for the past three years.

Both IVA and DMP customers already have access to their plans online, and this will soon be complemented by an app, providing a slick and seamless digital process from advice to plan completion and beyond. As well as being able to track their progress it gives them access to counselling, the videoDoc service and discounts on everything from groceries to treats. Over the coming months we’ll be expanding the support we provide to help customers adjust to their new ‘financial lifestyle’.

Financial Wellness Groups’ existing creditor portal, which enables creditors to manage the debts held in solutions efficiently in a secure online environment, will be enhanced to provide additional management information and data to creditors. Currently, 88% of DMP debts are managed via the portal.

Deborah Ware added: “Whilst we are expanding our digital offering for customers, we will always be available for those that want to speak to us. Many customers, especially those that are vulnerable, say that the sometimes they want the personal touch and reassurance of speaking to one of our team.

“Customers tell us that getting their finances under control improves all aspects of their lives. Financial Wellness Group is about improving customers’ financial capability – and therefore their wellbeing – wherever they are in their journey.”