The Financial
Wellbeing in Law
Review 2024
The past year has proven once again that building financial acumen is a business critical issue in law.
- Carla Hoppe, Founder and CEO, Wealthbrite
Financial Confidence is Lacking
The business case for building financial acumen:
Keep Good People
Stem the tide of top talent leaving the profession by giving them the skills they need to succeed.
Maintain Industry Crown
Stand out from the crowd as a great place to work by providing holistic support to your people beyond the day job.
Make More Money
The data is clear – less stressed people are more productive and better productivity means better commercial outcomes. It's a win-win
Market leading innovation
We’re proud that in the two years since we launched our annual review much positive change has been made to improve the conversation around financial wellbeing in law.
We’ve been recognised for our innovation in this space as a multi-category finalist at the Women & Diversity in Law Awards 2024 and winner of the Money Awareness and Inclusion Awards 2024 for best for-profit adult education.
This has made it possible for us to continue to work with leading employers in the legal sector and strengthen our relationship with training providers who are committed to making financial confidence the norm in law.
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Insights Report
Deep dive into what you can expect in this report
Why wellbeing starts at the top
"Leaders have a unique opportunity to break this cycle by creating psychologically safe environments where financial concerns can be openly discussed without stigma."
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Financial wellbeing & inclusion
"Financial worries don’t exist in a vacuum—they impact mental health, and firms have a duty of care to address both."
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Financial wellbeing and social mobility
"Not everyone has the same level of financial literacy or support. That's why building financial acumen is crucial—so that everyone has an equal opportunity to succeed."
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No more boring emails! How firms can effectively engage their people on finance
"Many young people now turn to social media and online platforms for information, so it’s no surprise they prefer dynamic, tech-driven learning when it comes to finances."
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Money & Performance at Work
Juniors Experience More Financial Stress Than Seniors
Money worries often lead to anxiety, decreased motivation, and sleepless nights, especially for those in the legal field. The constant pressure of financial concerns can heavily impact mental wellbeing and effect how people perform on the job.
Signs of Problematic Financial Behavior
Overspending Due to Financial Pressure
Many lawyers feel the need to spend beyond their means, with 60% acknowledging this behavior. The issue is even more prevalent among junior lawyers, where 73% admit to spending more than they can afford.
Reliance on Credit Cards When Money Runs Out
A significant number of legal professionals use credit cards to manage shortfalls when they run out of money. This trend shows a direct correlation with poor budgeting habits, as 77% of those who don’t budget regularly are frequently using credit cards.
Finance is a language—one that permeates every function of business. Whether you’re just starting out or leading teams, you need fluency to navigate the numbers. Building that confidence is fundamental to driving better business decisions.
- Sofy Richards COO at Dentons
Stand out from the crowd
Lack of Financial Wellbeing Support at Work
Existing support isn't cutting through. Too few people know or engage with their workplace wellbeing support and yet more people are looking to their employers to give them holistic life support, not just technical training.
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