Money Advice Service: Improving financial behaviour

Ali Pugh, Luke Perry and Michael Healey
Jigsaw Research and Money Advice Service


This research will potentially impact 1 in 6 people in the UK. The Money Advice Service was given the mission of improving the financial behaviour and decision making of 10.2 million individuals, who were designated their new target market in 2013. This market was selected on the basis of having low disposable income, and making insufficient provision across five key financial outcomes. The market was known for an erratic approach to finances, poor financial literacy, and low sophistication. Improving its financial behaviour posed a significant challenge.

The research needed to provide an enduring foundation for the new market strategy and to build a lasting sense of the new customer into ongoing proposition and communication design.

The cognitive and behavioural challenges posed by the market had to be addressed in the approach. This was achieved by incorporating different theoretical frameworks, and blending together multiple methodologies including behavioural, introspective, and contextual/social, to produce a genuinely innovative hybrid. The deliverables went far beyond conventional debriefing, using film and segment books to ensure the research was an ongoing resource of working insight.