Minding The 45 Million Gap With Claro Wellbeing

Claro Wellbeing won runner-up in the “Best Fintech by an Established For-profit” category for its focus on the 45 million people in the UK that fall into the “financial advice gap”. 

An absence of accessible financial education leaves individuals ill-equipped to navigate financial decisions. This leads to repercussions for personal finances, relationships and well-being. Claro Wellbeing‘s commitment to addressing this void is both timely and commendable.

That’s why it won a MAIA. 

“As we delve into communities with inadequate financial literacy, Claro Wellbeing stands as a beacon of empowerment,” Trudi Harris, co-founder of the MAIAs, acknowledges.

Serving The Underserved 

At the heart of Claro Wellbeing’s approach lies innovation and inclusivity – applied to communities that are otherwise ignored. 

Over an 11-month period, the organisation offered tailored, one-on-one financial coaching calls to hundreds of adults across the UK. Each call, personalised through a pre-call survey, guides individuals towards improved financial comprehension, behaviours, and skills. This approach dismantles barriers, ensuring financial guidance is accessible to all.

Michael Gilmore, co-founder of the MAIAs, emphasises the importance of Claro Wellbeing’s approach: “Amid a landscape where financial education remains exclusive, Claro Wellbeing introduces a pioneering alternative.”

Concrete Commitment to Inclusivity

Inclusivity isn’t just a claim for Claro Wellbeing; it’s the cornerstone of their initiatives. 

Designed to bridge the UK’s financial advice gap—a void affecting over 45 million adults—their coaching transcends conventional constraints. These coaching sessions provide a platform for individuals to openly discuss their financial relationships, enabling smarter decisions and elevated financial literacy.

“Our focus extends beyond disseminating financial knowledge; it is about empowering individuals with autonomy over their financial destinies,” a representative from Claro Wellbeing asserts.

Quantifiable Impact

Claro Wellbeing’s impact is far from abstract. With the provision of 1,000 free coaching hours, they’ve touched the lives of hundreds. Evident in 349 positive reviews on Smart Money People, their average 4.8 out of 5 rating underscores their effectiveness. 

Testimonials resonate with tales of transformation, documenting how clients turned financial challenges into triumphs.

Paving the Way Ahead

Looking to the horizon, Claro Wellbeing’s vision is resolute. Their plans for global expansion entail extending financial coaching and education to workplaces worldwide. Challenges loom, including the training of a diverse coaching team and crafting region-specific content. Yet, Claro Wellbeing remains undeterred in their pursuit of financial well-being.

Claro Wellbeing’s impact on financial education and empowerment reverberates. Their legacy of inclusivity and transformation continues to shape a brighter, financially literate future for individuals and communities alike.

To learn more about Claro Wellbeing, as well as all the other winners at MAIA 2023, visit: https://maiawards.org/winners-2023