Bristol Financial Resilience Action Group
In response to the cost-of-living crises, Hargreaves Lansdown wanted to use its expertise and influence to support those most affected.
As a first step, we developed our 5 to Thrive campaign, focusing on the 5 building blocks of financial resilience: control your debt, protect your family, save a penny for a rainy day, plan for later life, and invest to make more of your money.
In partnership with Oxford Economics, Hargreaves Lansdown developed the Savings and Resilience Barometer, which uses 16 indicators within these five pillars of financial behaviour to report on the financial resilience of the UK.
The reports, released every six months, are aimed at advising policy makers as to the impact of their decisions.
Hargreaves Lansdown wanted to apply these findings, and the expertise we hold internally, to generate greater financial resilience in Bristol, where Hargreaves Lansdown is based and prides itself on being.
So the concept of Bristol Financial Resilience Action Group (BFRAG) was born.
Programme overview
Bristol Financial Resilience Action Group is a network of employers aimed at boosting the financial resilience of Bristol. This is achieved through signatories fulfilling 3 key commitments:
Distribution to their employees of a free guide to financial education, provided by Hargreaves Lansdown, across the 5 pillars of 5 to Thrive, giving foundational knowledge and links to where to find further information
If a signatory already has financial education resources, it is not a requirement to distribute the flyer provided by Hargreaves Lansdown
A commitment to work towards internal changes within the organisation to boost financial resilience of employees. We recognise that some of these may take longer to achieve, especially in the current environment. We will work with employers within the action group on reaching these goals:
Sorting payroll errors within one week
Signposting to debt advice
Offering paid for life cover by default for all staff upon employment
Sick pay in excess of statutory sick pay
Incentivizing pension contributions of at least 12% of pay
Anytime pension contribution changes
Encourage employees to sign up to a course of 12 monthly virtual webinars hosted by Hargreaves Lansdown across the 5 pillars of 5 to Thrive.
The programme was launched in 2023, with 19 signatories taking part in the pilot year. Please see our End of Pilot report. With 32 signatories, we launched year 2 of the programme in January 2025, with a course of 12 financial wellbeing webinars covering key financial topics delivered by experts from Hargreaves Lansdown.
Mission statement
As the latest Savings and Resilience Barometer report shows, there is room for improvement for Bristol in relation to financial resilience. Hargreaves Lansdown is proud to be a Bristol firm and want to make a positive impact for the community where we are based.
Objective 1
To utilise Hargreaves Lansdown’s knowledge and expertise to make a positive and proactive impact in relation to the cost-of-living crisis
Objective 2
To provide employers with the tools they need to help their employees with their financial struggles
Objective 3
To make Bristol the most financially resilient city in the UK
Benefits of the programme
Employer
Cost-free employee support
Increased financial resilience of employees
Showcase having a positive impact in your local community
Part of a wider business community in Bristol that is proactive in its response to the cost-of-living crisis and builds strong financial resilience for the future beyond the current situation
Employee
Access to financial education in a simple and readable format
Increased financial resilience
Work for an employer who cares about their impact in the local area
New year, new financial you
Kickstart the new year with the BFRAG course launch. In this session, we walk you through the course format, how to sign up for webinars, and where to access recordings. We discuss the importance of having a good money mindset: this is the unique overriding attitude you have to your finances that can influence your daily financial decisions. Plus, get introduced to our "5 to Thrive" framework and learn how to build strong financial habits for the year ahead.
Take control of your debt
Debt isn't a bad thing, if you're controlling it and it's not controlling you. In this session, we explore different types of debt, how it works, and the average interest attached to each product. Also covered are affordability, debt management strategies and how your credit score fits in. Buy-now-pay-later schemes are taking the retail industry by storm, and we’ll tell you why you should be wary of them.
How to be a smart spender
Budgeting is the key to financial freedom - and enjoying what matters most. We’ll break down income and taxes, show you how to stay in control of your day-to-day money, and share tips to become both a smart saver and savvy spender. Plus, discover practical ways to cut costs as daily life continues to be expensive.
Protecting you and your family
Nobody is immune to things going wrong. It pays to have a plan B for both you and your loved ones. In this session, we discuss the different types of financial insurance available on the market, triggers for insurance, what financial protection benefits may be offered by your employer and how to remain alert to the warning signs of financial scams.
Rainy day money – everything you need to know
Bad luck can strike when we least expect it, and it’s impossible to predict, so it’s important that you have a cash buffer for when life throws you a curveball. In this session, we explore how much you should have stashed as an emergency fund, how to calculate the magic number, how to shrink your savings target, and the best cash savings options.
Building a house deposit
For many people, getting onto the property ladder is a life goal, and in order for the majority to realise that ambition, it typically requires a combination of saving and borrowing. In this session, we explore the UK housing market, why a bigger deposit is always better, the different types of mortgages available, the extra costs involved, and how using the Lifetime ISA could provide a boost to your savings.
Hear from Lisa, We The Curious
Hear from James, Great Western Credit Union
Hear from Brian, Brunel Care
Signatories of Bristol Financial Resilience Action Group
Below are the employers who have signed up to Bristol Financial Resilience Action Group:
