LifeSight has partnered with Octopus Money to offer members access to financial guidance services.
As part of this service members will be offered access to a dedicated coach or adviser, with support tailored to their own circumstances. Members will also be able to access group webinars and other resources to aimed at helping with longer-term financial planning.
LifeSight says this new partnership and range of services has been designed to help members make their money go further and support overall financial wellbeing.
Given the immediate cost of living challenges, the support will also help members with issues that are currently affecting personal finances, such as rising inflation, energy costs and interest rates, and their impact on mortgages, savings and day-to-day budgeting.
Octopus Money has been designed to offer financial guidance from a real person, rather than an AI-generated ‘bot’. LifeSight says this one-to-one support will allow members to talk with an expert about their personal money questions, and understand what wider financial conditions mean for their specific circumstances and budgets. These experts will also be able to provide options and reassurance, and help people plan for the future through forecasting and setting achievable goals.
Stewart Patterson, head of product strategy for LifeSight, said: “People all across the country are feeling the pressure of the rising cost of living and many are trying to work out how to manage the impact of these wider economic issues on their own personal finances, both now and in the years to come.
“The pensions industry has a big role to play in this process, but has too often tripped over itself with complicated communications and reliance on industry jargon.
“LifeSight set out from the start to communicate with its members in an accessible and easy to understand way, helping members understand their retirement savings, wider finances and the options available to them.
In addition to this latest financial wellbeing initiative, LifeSight has been building a range of other personal finance resources for members. This include a financial education library and its LifeSight money app. LifeSight says it also offers access to Isas, Lifetime Isa and Junior Isa products – all via Cushon – to help members meet shorter term as well as longer-term saving goals.
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