Money Wellness

What Money Wellness does

Money Wellness, a trading style of Gregory Pennington Limited (Co Reg No. 02855061, founded 1994), is a UK-based financial wellbeing company that provides free debt advice and arranges debt solutions for individuals unable to meet their repayment obligations. The company is headquartered in Blue Tower, MediaCity UK, Salford (Greater Manchester), and operates under FCA regulation (Reference No. 664019) for consumer credit activities. Its core product set comprises five debt solutions — Debt Management Plans (DMP, fee-free), Individual Voluntary Arrangements (IVA, delivered through associated firm Freeman Jones), Debt Relief Orders (DRO, free since the £90 application fee was scrapped on 6 April 2024), Debt Consolidation advice, and Bankruptcy — supplemented by Money Booster (benefits, budgeting, rent/mortgage, cost-of-living tools) and Money Saver content. The company has helped over 1 million people across its 30-year history and reports a 4.9/5 average Feefo rating from 7,789 verified reviews.

The business is delivered through a dual-channel model: a telephone-based advisory service staffed by trained advisers and an end-to-end online advice platform with a Solution Finder tool, both supported by soft credit search functionality. Distribution is direct-to-consumer, driven by organic search, content marketing (active blog and social channels on Facebook, X, Instagram, LinkedIn, YouTube, TikTok), PR coverage in major UK media, and a referral partnership with the UK government's MoneyHelper service. Revenue is generated predominantly through the IVA channel (fees paid out of customers' monthly payments only on creditor-accepted cases), bankruptcy application referrals, and debt-consolidation lender leads, while DMPs and DROs are provided free. The company has no disclosed external funding, operates only in the United Kingdom, and is not part of a larger group beyond the Freeman Jones IVA arrangement.

Name

Money Wellness

Legal name

Gregory Pennington Limited

Website

https://moneywellness.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

Money Wellness is a UK FCA-regulated debt advice and financial wellbeing provider offering free DMPs and DROs alongside fee-bearing IVAs, bankruptcy, and consolidation services to individuals struggling with unmanageable debt, delivered via phone and online channels.

Ownership category

akta.pro rank

Product category

Consumer Debt Management Services

NAICS

Finance and Insurance (52)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Debt Management & Paydown (Student Loans, Credit Cards) (FSAGADAD)

akta.pro secondary industries

Expense Tracking & Financial Dashboards (FSAGADAB), Budgeting & Cash-Flow Management (FSAGADAA)

Keywords

• Debt management services
• Debt advice solutions
• Consumer credit counselling
• Financial wellbeing services
• Insolvency advice

Headquarters

HQ city

Manchester

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. Debt Management Plan (DMP): Free debt management plans - no fees charged for DMPs. All money paid by customers goes towards paying off their debts.
2. Debt Relief Order (DRO): Free to apply for DRO. The £90 fee was scrapped on 6 April 2024. Revenue may come from associated services or referrals.
3. Individual Voluntary Arrangement (IVA): Fees are payable for IVAs, paid out of customers' regular affordable IVA payments rather than as additional charges. Set up by associated company Freeman Jones. Fees vary but only charged if IVA is accepted by creditors.
4. Bankruptcy: Bankruptcy application costs in England and Wales: £130 application fee + £550 bankruptcy deposit. In Northern Ireland: approximately £683 total including court fee, deposit, and solicitor fee.
5. Debt Consolidation Advice: Advisory service for debt consolidation options. The company advises that debt consolidation loans may not be the best option and recommends alternatives, suggesting some revenue comes from referring customers to consolidation lenders.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Money Wellness is a UK financial wellbeing platform that provides free, FCA-regulated debt advice to individuals and arranges formal and informal debt solutions including Debt Management Plans (DMPs), Individual Voluntary Arrangements (IVAs), Debt Relief Orders (DROs), debt consolidation, and bankruptcy. It supplements debt resolution with income-maximisation tools (Money Booster) and money-saving content (Money Saver), delivered through telephone advisers and an end-to-end online advice platform.

Product overview

Money Wellness is a financial wellbeing platform offering free debt advice and multiple debt solutions. The core offering includes Debt Advice (personalized guidance via online and phone channels) complemented by five debt solutions: Debt Management Plan (DMP - fee-free informal arrangement), Individual Voluntary Arrangement (IVA - legally binding with 70-85% write-off potential), Debt Relief Order (DRO - free 12-month freeze for debts under £50,000), Debt Consolidation (loan to consolidate multiple debts), and Bankruptcy (formal insolvency). Additional services include Money Booster (budgeting tools, benefits help, cost of living support) and Money Saver (money-saving tips). The Solution Finder tool guides users to appropriate services based on their circumstances.

Differentiator

Problem solved

Functional benefit

Products and services

• Debt Advice Free, confidential, practical and impartial debt advice service providing personalised recommendations and solution finding through online and phone channels for UK individuals struggling with debt.
• Debt Management Plan (DMP) An informal arrangement with creditors allowing lower monthly payments over an extended period to repay non-priority debts such as credit cards, loans, and store cards. Money Wellness does not charge fees for this service and all customer payments go directly to creditors.
• Individual Voluntary Arrangement (IVA) A legally binding agreement to repay debts at an affordable rate over five to six years, after which any remaining debt is written off. Typically achieves approximately 70% debt write-off, potentially up to 85%. Set up via associated company Freeman Jones, with fees payable only if the IVA is accepted by creditors and built into the affordable monthly payment.
• Debt Relief Order (DRO) A formal insolvency solution freezing debts for 12 months for individuals owing £50,000 or less with limited income and assets. If circumstances do not improve, debts are written off. Available in England and Wales only, and free to apply following the removal of the £90 fee on 6 April 2024.
• Debt Consolidation Advice and arrangement of taking out a loan to pay off multiple debts, consolidating them into a single monthly payment. Available as unsecured or secured (against possessions such as home or car) options.
• Bankruptcy A formal insolvency solution for those unable to pay debts exceeding the value of their possessions. Typically lasts 12 months and releases the individual from most debts. Costs £680 in England and Wales (£130 application fee + £550 bankruptcy deposit) and approximately £683 in Northern Ireland (court fee £151, deposit £525, solicitor fee ~£7).
• Money Booster Suite of tools, calculators and guides to help increase income and reduce bills, including Rent & Mortgages Help, Benefits Help, Cost of Living Help, and Income & Budgeting support for UK consumers affected by rising costs.
• Money Saver Money-saving tips, discount information, and ideas for affordable activities to help users reduce everyday spending and manage financial stress.
• Solution Finder An online tool that asks users questions about their financial situation to identify the most suitable debt solution or advice path for their circumstances, enabling self-service guidance into the appropriate Money Wellness service.

Quantifiable outcome

• £3.5 million written off for customers on medical grounds since 2021
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• MoneyHelpercoreGTM or Marketing PartnerPartnership with the UK government's MoneyHelper service which provides free financial guidance and directs people with money troubles to Money Wellness for debt advice. MoneyHelper features Money Wellness as a recommended resource for people seeking debt advice.
• Young EnterpriseminorStrategic or Co-development PartnerMoney Wellness has partnered with Young Enterprise to run budgeting workshops in local schools in the Manchester area. This supports the company's mission to help kids develop vital life skills around managing money.
• Stop Loan SharksminorGTM or Marketing PartnerPartnership with Stop Loan Sharks, an organisation that investigates and prosecutes illegal money lenders and provides support for borrowers. Money Wellness refers affected customers to Stop Loan Sharks for additional support.
• Freeman JonescoreImplementation/ SI/ Consulting PartnerAssociated company that provides Individual Voluntary Arrangement services. Freeman Jones sets up IVAs for Money Wellness customers and charges fees only if the IVA is accepted by creditors.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Citizens Advice: National UK charity providing free, independent debt advice alongside broader consumer guidance. Comparable to Money Wellness on debt advice delivery, customer base (vulnerable UK consumers), and channel mix (phone and web).
• ClearDebt: UK debt solutions company offering IVAs, DMPs, and sequestration (Scotland-specific). Comparable to Money Wellness on product mix and target customer, with particular overlap on IVA administration and creditor negotiation.
• Christians Against Poverty: UK charity providing free debt advice and money management support, with church-based local presence. Comparable in customer base (struggling UK households), service mix (DMPs, IVAs, budgeting), and phone/web delivery model.
• National Debtline: Free, confidential debt advice service funded by the Money and Pensions Service. Directly comparable in offering DMPs, IVAs, and DROs to UK consumers via phone and web, operating in the same regulatory and referral ecosystem as Money Wellness.
• Debt Advice Foundation: UK charity offering free, confidential debt advice via phone and web. Directly comparable on customer base, channel strategy, and service portfolio (DMP, IVA, DRO), competing for the same MoneyHelper and government referral flow.
• PayPlan: Free UK debt advice service offering DMPs, IVAs, and DROs, operated by the Money Wellness's peer set under StepChange-adjacent infrastructure. Closely comparable in product mix and target market, with significant overlap in online advice and solution-finding tools.
• StepChange Debt Charity: UK's largest debt advice charity, providing free debt management plans, IVAs, and DROs. Directly comparable to Money Wellness in product offering and target customer (financially distressed UK consumers), with overlap on FCA-equivalent authorization and government referral partnerships.
• Aperture (formerly The Debt Advisor): UK IVA and debt solutions provider offering IVAs, DMPs, and protected trust deeds (Scotland). Comparable to Money Wellness on formal insolvency solutions and consumer finance customer base, with some geographic complementarity in Scotland.

Others

• MoneyHelper (Money and Pensions Service): UK government-backed service providing free money and pensions guidance, including a debt advice locator that refers customers to providers like Money Wellness. Functions as both a referral partner and partial competitor for free impartial advice.

Emerging players

• Freeman Jones: Associated company that administers IVAs for Money Wellness customers. Operates in the same UK debt solutions space with overlapping customer referrals, making it a structurally linked peer rather than pure third-party competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ukmoneywellness
• YouTubeyoutube.com/@moneywellnessuk
• Facebookfacebook.com/ukmoneywellness
• LinkedInlinkedin.com/company/moneywellness
• Instagraminstagram.com/moneywellnessuk
• TikToktiktok.com/@moneywellnessuk

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Money Wellness