Hoyland Common Academy Trust (HCAT) has appointed Lifetime Financial to provide financial education and guidance to its 560 employees at five schools across South Yorkshire.
The new initiative aims to help the staff better understand their financial position and make more informed decisions about their future.
Lifetime Financial, which provides financial planning, mortgage and protection broking services, recently launched a personalised financial review service that offers a bespoke 10 minute video explaining an individual’s current financial position, including the interaction between work related and private finances.
The initiative is underpinned by Lifetime’s digital portal and includes a staff survey, ongoing support through a suite of educational videos and a personalised financial review delivered by a Lifetime Financial coach.
Commenting on the new initiative, Tom Banham, HCAT chief executive officer said: “HCAT is a high performing multi academy trusts, based in Barnsley. We pride ourselves in providing only the highest quality of education to our learners. We also provide some of the best staff benefits for our employees. However, sometimes these benefits are not fully understood, and rarely does anyone understand how their employer provided benefits dovetail with their private provision, whether this is their pension, life insurance or any other benefit. We have therefore appointed Lifetime Financial to help our staff understand, and appreciate, how important their non-salary benefits are and enable them to make more informed financial decisions in the future”.
Ian Dickinson, managing director, Lifetime Financial, adds: “Our ambition is to enable everyone to have access to financial education and advice where needed. Tom Banham and his team have demonstrated their commitment to both HCAT and its employees to better understand the fantastic benefits that the trust provides and how they fit within their broader financial needs.”
Andrew Wealthall, national business development manager, Lifetime Financial, adds; ” A third of all workers already report that money worries have affected their ability to do their jobs. Given the ongoing economic uncertainty this will almost certainly increase. One of the issues is that many employees don’t understand or appreciate their work related benefits. We hope and believe that other organisations will follow in HCAT’s footsteps and commit to improving their employees’ understanding of their benefits, which can often total more than the value of the homes in which they live.”