There are three main kinds of money help in the UK, and they do different jobs. Choosing the right one saves time and money.
Free guidance
MoneyHelper, run by the government-backed Money and Pensions Service, gives free, impartial information on budgeting, pensions and debt. It is a good starting point for general questions.
Regulated financial advice
A financial adviser, regulated by the Financial Conduct Authority, recommends specific products, such as an investment, a pension transfer or insurance cover. Advisers charge fees, although protection products can still pay commission, and their recommendations come with consumer protection.
Personal finance coaching
Coaching sits in between. It looks at the whole financial picture alongside money mindset and behaviours, sets priorities, and provides ongoing accountability to follow a plan through. A coach doesn't recommend products, and coaching isn't regulated by the FCA.
| Free guidance | Personal finance coaching | Regulated advice | |
|---|---|---|---|
| Cost | Free | Fixed fees | Fees (some commission on protection) |
| Recommends products | No | No | Yes |
| Mindset and behaviours | No | Yes | No |
| Ongoing accountability | No | Yes | Periodic reviews |
| Regulated by the FCA | No | No | Yes |
Which one fits
General questions suit free guidance. A specific product decision needs regulated advice. Wanting a clear plan, a better relationship with money, and accountability to stick to it is where coaching fits. Many people use more than one.
Anyone struggling with debt should go to free debt advice first, from MoneyHelper, Citizens Advice or StepChange.
More about personal finance coaching
General information, not advice. Personal finance coaching is provided by Money Saviour Financial Solutions Ltd and is not regulated by the FCA. Debt advice is provided by Money Saviour C.I.C. through commissioning organisations only.