Bankers, Lawyers & Consultants - as financially lost as anyone?

When we started trialling Hatch in workplaces, the first two firms were a management consultancy and an investment management firm. 

Not the easiest place to start - these people were financial services professionals. But they valued Hatch as much as anybody, with 95% employees saying they were highly likely to recommend us to colleagues.

Another anecdote - just this weekend I spoke to about 70 Oxford Economics graduates, covering the full age spectrum. A show of hands - how many are confident they are managing their money well? Only a handful.

So, why might good financial support be as important in these types of workplace as anywhere?

1. Breadth of roles

Not everyone in these firms is a technical specialist. People in customer service, operations, technology and other areas may have little need to understand the details of financial products and markets.

2. Specialised roles

Even the more technical roles may have a very niche specialism. You may know a lot about venture capital investing, but very little about life insurance.

3. Time starved

Roles in these professions are often extremely demanding. It's hard to find the time to step back, plan your life....and take care of admin!

4. Earn it. Spend it.

Higher earners can often be equally high spenders. It's easy to assume the earnings will continue, and under-appreciate the likelihood that in future you may want more time with the family, or a few years trying to start a business. Planning and saving discipline can make a huge difference in future.

5. Think More vs Think Happy.

Linked to the point above, professional services people can often be high achievers, with a relentless focus on improving - themselves... and their wealth. But to what end? Why does money matter? What would you like to do in life? And how should you manage your finances accordingly?

This session finally made me start thinking about my finances in general and also made me decide on some financial goals (pay off credit card, buying a house, sending money home to my family)

Learn more about Hatch financial planning in the workplace