Octopus launch Octopus Moneycoach, taking financial coaching to the mass market
Octopus Group, the London headquartered financial services and energy firm, today announces its plan to launch Octopus Moneycoach with the acquisition of Hatch Financial Coaching as it bids to take financial coaching to the mass market.
As part of this service, Octopus Moneycoach often partners with established advice firms to provide a comprehensive financial advice solution to workplaces. Under such partnerships, advice firms serve employees with more complex planning needs, while Octopus Moneycoach helps those who are typically early-career to mid-life, wanting to plan for their future, build up savings, and possibly start investing. On average, its customers invest circa £10,000 per year.
Matthew Mitten, Partner at Secondsight, part of advice firm Foster Denovo, said, “Partnering with Hatch allows us to offer our corporate clients a truly inclusive financial planning service, as we can now help every employee, from graduates to senior execs, making it a compelling proposition.
He continued, “We recently launched with one of the UK’s largest professional services employers and, between Hatch and ourselves, we’ve already had planning sessions with more than 800 employees. The feedback so far has been brilliant and is a great example of the opportunities that partnerships like this can offer advice firms.”