Leading international law firm Simmons & Simmons has joined forces with Octopus Money, a financial advice platform, to offer employees personalized money coaching and planning services. The initiative has already seen impressive engagement, with over 25% of the firm’s approximately 1,000 UK employees consulting a money expert within the first two months and 41% signing up for the full service. This highlights the growing recognition of financial wellbeing as a key workplace priority.
Financial stress is a significant concern for employees, with two-thirds (66%) believing their employers do not care about their personal finances. As the new year and political shifts, such as rising energy costs, compound financial anxiety, employees are also navigating life milestones like purchasing homes, starting families, and planning for retirement..
Caroline Turner-Inskip, Partner & Global Head of Wellbeing at Simmons & Simmons, said: “We understand that financial stress can be particularly prevalent at this time of year. It doesn’t just impact individuals—it affects their ability to be present and productive at work. Partnering with Octopus Money has allowed us to provide meaningful support at a time when our people need it most, whether they’re planning for life’s big moments, finding out what political changes might mean for their money, or simply looking to feel more in control of their finances.”
Other firms, including Browne Jacobson and Fieldfisher, have already partnered with Octopus Money – which has supported over 200,000 employees across the UK to-date.
Anasuya Iyer, Chief Commercial Officer at Octopus Money, said: “We regularly hear from professionals in sectors spanning law to financial services who, while extremely organised at advising their clients’ futures, have neglected thinking about their own. By partnering with Simmons & Simmons, we’re demonstrating how law firms can step up and make a real difference in their teams’ lives. The early uptake speaks volumes about the need for this kind of support.”
The impact of the service is already being felt. A review from an employee at Simmons & Simmons said: “I had never had any financial coaching before, so I was unsure what to expect. However, [my coach] put me at ease, was clear in what we would cover, gave me plenty of opportunities to input, and provided a straightforward summary of where Octopus could help me going forward.”