- BareRock to donate £75 to JFF for every new policy written
- Advisers invited to deliver financial education in their own communities
- BareRock transforms the universal requirement of PII into a vehicle for positive social change
BareRock, the pioneering Professional Indemnity Insurance (PII) provider serving financial intermediaries, has partnered with the national financial education charity, Just Finance Foundation (JFF). Through the partnership, BareRock will donate £25 for every new PII application form received, even if the application doesn’t proceed to a bound policy. For applications that do convert, BareRock will contribute an additional £50, bringing the total donation to £75. The £50 donation is an evergreen commitment that BareRock has pledged for every PII policy that is renewed via their platform in subsequent years.
These contributions will directly support JFF’s efforts to empower teachers, families and change makers with the confidence, knowledge and tools to deliver the life-changing financial education all children need to thrive as adults.
Jonathan Newell, CEO and Founder of BareRock, stated, “At BareRock, our proposition has been crafted to support the best financial advisers and planners in derisking their businesses and help optimise end-consumer outcomes. However, to truly make a generational and lasting impact, we believe that financial education should start at a young age, which is why we are delighted to support the great work of the JFF as this goes to the very heart of our mission.”
Babs Crane, BareRock’s Head of Behavioural Science & CXO (Advisory) explains the importance of early financial education: “Research has shown a clear link between financial knowledge, self-esteem and financial behaviour. However, the development of financial literacy is so often left to chance. Our attitudes and behaviours towards money begin forming at a very young age, heavily influenced by our family members’ financial habits. This can occur long before children typically have opportunities to practise financial decision-making through their pocket money or other allowances.
This highlights the critical need to deliver objective and standardised financial education from an early age. JFF addresses this by providing tangible changes for future generations. Their approach of delivering financial education through a child’s class teacher is particularly effective – it makes use of the existing trust between the children and their teachers, potentially increasing the likelihood that the financial knowledge will resonate and stick with the children long-term.”
In a groundbreaking move, BareRock will make these impactful donations in the name of each of its member firms. This means that each BareRock member will be directly recognised, complete with a Certificate of Impact showcasing their commitment to financial literacy.
The initiative also opens the door for advisers to become local champions of financial education. By helping JFF reach more schools, participating firms will have the unique opportunity to create tangible, lasting change in the heart of their own communities and to shape the financial future of the next generation where it matters most to them.
Commenting on the initiative, Newell continues, “PII is not just a regulatory mandate – it underpins adviser-client trust. By recasting our PII application process to align with meaningful social impact, we’re demonstrating that regulatory compliance and societal contribution need not be mutually exclusive.
BareRock believes that a more financially literate population will help bridge the advice gap and increase the demand for comprehensive financial planning.
Newell adds, “As an industry, we have both an obligation and a moral duty to safeguard the financial wellbeing of the next generation. Our collaboration with JFF aims to raise awareness and mobilise today’s financial advice community.”
He concludes with a poignant reflection:
“As the proverb goes, ‘A society grows great when we plant trees in whose shade we shall never sit’.”
Sarah Wallace, Director at JFF, commented, “We are thrilled to partner with BareRock. Their commitment to help the financial advice industry and the customers they serve resonates with our mission to empower children with the confidence and skills to manage money well throughout their lives. BareRock’s innovative approach of linking PII applications to donations will help us expand our reach and impact, ensuring more young people have access to crucial financial literacy programs. We are thankful to BareRock for demonstrating their commitment to provide the best possible financial education for children across the UK.”
