Ruth Handcock, CEO at Octopus Money, said: “We’re delighted to see the Chancellor putting financial advice and investing confidence firmly on the UK’s agenda. For too long, investing has been overlooked by most people in the UK. That’s slowly starting to change, thanks in part to initiatives like auto-enrolment, but the reality is that many people still don’t invest – and 91% have never had access to personalised money advice.
Done well, these initiatives could help people feel more confident about how much to keep in cash, how much they can afford to invest, and crucially, understand not just the risks of investing – but the risks of doing nothing.
While the AGBR is a positive move, it remains focused on products and not on planning. What we need sitting alongside targeted support to give people the confidence to invest is affordable, personalised, human-supported advice – made accessible through technology – to help people build financial plans that reflect their lives, their goals and their worries.
At Octopus Money, that’s exactly what we’re working to deliver. By combining smart technology with expert human coaching, we’re giving people personalised, practical plans – whether they have £1,000 or £100,000. With the right tools, and this renewed government focus, we’re optimistic about seeing a future where thousands more people feel confident, informed and in control of their financial future.“
Octopus Money has also supported the UK Investment Campaign to encourage greater retail investment in the UK.
At Octopus Money, we’re building the future of financial advice – helping more people get the support they need to plan for the life they want.
We’re a new kind of advice business – combining the best of humanity, smart technology and investment expertise. Anyone can get started directly through our website – and we work with some of the UK’s leading employers to give over 200,000 employees access to 1-to-1, personalised help through the workplace.
We also license our award-winning methodology, training and technology to financial services brands – helping them deliver holistic, regulated financial advice to more customers, at a lower cost than ever before.
Part of the Octopus Group and a certified B Corp, Octopus Money is committed to doing the right thing for customers, advisers and the future we all share.