The CEO of the Money Advice Service has flagged the stark issue that whilst we all have financial plans and goals in life, less than half of us have savings in place to actually deliver them .

It’s positive reading that the service has joined forces with the UK Financial Capability Board, helping people across the UK to manage their money and to plan ahead. It’s a good strategy.

People have to appreciate their financial situation, and to do their utmost to make a life plan and to be prepared. And, whilst it’s positive to see such a move from the Money Advice Service, I still advocate that employers have a role to play in getting the message across. Workplace financial education, I think, is a necessity.

Clearly, it’s going to take time, but I firmly believe strides are being taken and it won’t be long before more and more of us do have a plan in place, and hopefully the poor savings trends will be reversed. Joined-up strategies are the way forward.

By Darren Laverty, Partner, Secondsight