Octopus Group bought financial coaching business Hatch last month, rebranding it to Octopus Moneycoach with a pledge to invest £10m to help it achieve scale.

The coaching service partners with employers to offer financial coaching to staff for £250 per year, but newly-appointed CEO Adam Price - formerly chair and founder of advice directory Vouchedfor - says this can be paid through salary sacrifice, taking the real cost to roughly £144.

Staff can also choose to upgrade to a full financial planning service, which Hatch provides through partnerships with established advice firms.

Octopus’s investment in the business will, he says, help scale the business and increase the number of financial coaches from 30 to 200 over the next two years.

He also explains to Laura Purkess Price that the business aspires to ‘transform a million lives’, amid FCA estimates that 18 million people in the UK would benefit from affordable financial advice.