Posted on by Tolu Akisanya


Press Release

PIMFA Launches Mental and Financial Wellbeing Campaign

Monday 18th November 2019

 

 

PIMFA – the trade association for personal investment managers and financial advisers – has today launched their ‘Financial Journeys Campaign’ to help highlight the importance and link between financial and mental wellbeing.

PIMFA’s campaign aims to raise awareness and start the conversations that people often find so hard – from fighting the stigma around mental health to the prevailing reticence around discussing money. The campaign encourages a better understanding of finances, and access to the help they need to make important decisions about their financial futures.

Financial decisions can be stressful and can affect mental and financial wellbeing, however professional financial advisers and personal investment services play a vital role in supporting clients and provide suitable advice, to ensure clients are not facing difficult decisions alone.

Research has shown that money and mental health are often linked. Poor mental health can make managing money harder and worrying about money can make your mental health worse. In the UK it has been reported that 94% of employees are suffering from money worries* and 59% rank it as their biggest cause of stress and anxiety**.

The campaign also highlights the roads to safeguarding people’s financial and mental wellbeing – namely the ‘peace of mind’ that can come from individuals managing their money, planning ahead to meet their needs, being informed or from having a trusted adviser that helps them navigate through their life’s most significant moments.

PIMFA CEO, Liz Field, said: “at whatever point we are at in our journey through life, at various times we are all faced with difficult decisions that often involve money and planning for our financial future. This can be stressful and can affect our mental and financial wellbeing.

“However we don’t have to face these decisions alone. From better financial education to advice from qualified financial professionals for guidance, we want to ensure that people have a better understanding of their finances, and access to the help they need to make important decisions.  Our firms are at the forefront of helping people build and navigate their personal financial futures and safeguarding their financial and mental wellbeing”.

The campaign has industry widespread support and for any organisations that would like to be involved, they can visit the Financial and Mental Wellbeing: Financial Journeys Campaign microsite.

We’re encouraging financial firms to share the tips and guides available with us and with their customers and potential clients to help improve financial education, and help highlight the benefit of financial advice and personal investment services from qualified financial professionals.

The PIMFA microsite can be found at https://campaigns.pimfa.uk/sites to access and share a variety of case studies, infographics, information and tools and download the partner pack here.   

Further information can also be found on social media and the campaign hashtags:  #MyFinancialJourney and #FinancialJourneys.

 

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Notes for Editors

*Source: Close Brothers, Financial Welling Index 2019

**Source: GettaSub

 

About PIMFA – the Personal Investment Management & Financial Advice Association

  • PIMFA is the leading trade association for firms that provide investment management and financial advice to everyone from individuals and families to charities, pension funds, trusts and companies.
  • The sector currently looks after £1.3 trillion in private savings and investments and employs over 55,000 people.
  • PIMFA represents both full and associate member firms. Full members provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families, to charities and pension funds, all the way to trusts and companies.  Associate members provide professional services to the PIMFA community
  • PIMFA leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena.  Our mission is to create an optimal operating environment so that its member firms can focus on delivering the best service to clients, providing responsible stewardship for their long-term savings and investments.
  • PIMFA was created in 2017 as the outcome of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) with a history as a trade association since 1991 – read more.
  • Further information can be found at pimfa.co.uk
  • To become a member of PIMFA for access to training, benefits and discounts, please visit https://www.pimfa.co.uk/become-a-member or contact us directly at membership@pimfa.co.uk


Contact

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