International law firm Simmons & Simmons has joined forces with Octopus Money to give employees access to personalised money coaching and planning to support their financial wellbeing.
The employer, which has around 1,000 UK employees in the UK, said the initiative has already had “exceptional uptake”. More than a quarter of the law firm’s employees scheduled a money expert appointment in the first two months. The employer said the engagement was “a testament” to the growing importance of financial wellbeing in the workplace as it said 41 percent of eligible employees had signed up to the full service.
Provider Octopus Money said money is a primary cause of stress for employees. Its customer survey 2022 found that 66 percent believe their employer does not care about their personal finances.
Key differentiator
Caroline Turner-Inskip, partner and 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.”
Financial wellbeing initiatives are becoming a key differentiator in the legal sector as competition for talent grows. Other firms that have partnered with Octopus Money include Browne Jacobson and Fieldfisher, meaning the provider now supports over 200,000 employees across the UK.
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. 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.”
