Gregory Pennington, Freeman Jones and Wilson Andrews have been brought together to launch as Financial Wellness Group creating one of the largest providers of free debt advice, and solutions, in the UK. The launch means that as a Group the company will provide advice to over 35,000 people and it is predicted that 10,000 of its customers will become free of serious problem debt. The business manages £1.1 billion of customers’ debt meaning that the company will return over £90 million to creditors in 2020.
Commenting on the launch, Deborah Ware, Chief Operating Officer of Financial Wellness Group said “There are now 9 million people in the UK who are over-indebted*. By putting the needs of these people at the heart of what we do, we are creating a service that is unique and goes well beyond what other debt advice and solution providers offer.”
“We are taking a holistic view of customers’ ‘financial lifestyle’ – for example, by focusing on early intervention strategies to support people with budgeting and provide them with the tools and support they need to get back on track before they get to the point of needing a debt solution. We continue to work with customers who are on a debt solution to improve their financial capability and we will support customers when they leave us, to ensure that they are equipped with the confidence and skills to stay that way and build a healthy and sustainable ‘financial lifestyle’.”
“Whilst we are expanding our digital offering for customers, we will always be available for those that want to speak to us. Many customers, especially those that are vulnerable, say that sometimes they want the personal touch and reassurance of speaking to one of our team.”
“Customers tell us that getting their finances under control improves all aspects of their lives. Financial Wellness Group is about improving customers’ financial capability – and therefore their wellbeing – wherever they are in their journey.”