Could Your Smartwatch Help Shape Your Financial Future? Plus the results of our June survey!
It is very important to us that any work we do is client-informed, purposeful and brings clear benefits. We are using your feedback to explore how technology might add value to the client experience across the Purposeful Group. In the spirit of transparency, we’re sharing some of the insights below, along with a few thoughts on how everyday health information could one day help make financial planning even more personal.
70% of you reported being interested in health-informed financial planning
A very encouraging finding. We know from population studies that sleep, physical activity and nutrition are all linked to both lifespan and healthspan: in other words, not just how long we live, but how many of those years are lived well, free from major disease. That matters because the quality of our later life is closely connected to the financial choices we make today, from when we retire to how we plan for care, travel, family support and day-to-day independence.
36% of you said you ordinarily use wearables, such as a smartwatch, fitness tracker or ring
For some people, that might simply mean counting steps on a dog walk, checking whether a poor night’s sleep explains a sluggish morning, or noticing that a busy week has left very little time for movement. For others, it might be about building confidence: seeing that they are gradually walking further after an operation, keeping an eye on resting heart rate, or spotting patterns between stress, sleep and energy levels.
The real value is not in the gadget itself, but in the story the data can help tell. Imagine someone approaching retirement who dreams of spending more time hiking, travelling, helping with grandchildren, or volunteering locally. Their financial plan might already show whether that lifestyle is affordable. Health and lifestyle information could add another useful layer: helping conversations focus not only on “Can I afford to retire?” but also “How can I make the most of the years I am planning for?”
71% said they would be comfortable having a discussion about health and lifestyle-related factors in the context of financial planning.
The areas most people felt comfortable discussing were physical activity (65%) and sleep (45%). If clients could opt in to provide this information, 68% said they would be happy to discuss it with an adviser, while some (13%) said they would prefer to provide it privately. A minority reported not wishing to provide this information (9%), which is equally helpful to know.
Top tips for getting more out of a wearable
- Focus on trends, not one-off numbers. A single bad night’s sleep or low-step day is normal; patterns over time are much more useful.
- Pick one small habit to improve. That might be a lunchtime walk, a regular bedtime, or standing up more often during the day.
- Use reminders gently. Alerts should support you, not nag you. If they become annoying, change them.
- Look for links between behaviour and wellbeing. For example, do you sleep better after fresh air, less screen time, or a more active day?
- Remember that wearable data is not medical advice. If something concerns you, speak to a qualified health professional.
If we were to incorporate this layer of personalisation, entirely optional and on an opt-in basis, a large majority said they would find it most helpful for planning long-term care as well as retirement income and drawdown. That makes sense. A good financial plan is not just a spreadsheet of income, tax allowances and investment returns. It is a plan for real life: staying independent for as long as possible, making choices while you have the confidence and capacity to make them, and ensuring your money supports the life you want to live.
This is where the link between healthspan and financial planning becomes so important. If we can plan with a clearer understanding of how someone hopes to live (and what might help them stay well for longer), we can have richer conversations about retirement timing, spending patterns, contingency funds, care preferences and legacy planning. It is not about predicting the future perfectly. It is about making the plan more personal, more realistic and more useful.
Of course, privacy and choice are central to this. Any use of health or lifestyle information would need to be transparent, secure and entirely led by you. Some people may welcome the opportunity to share this information; others may prefer not to, and that is absolutely fine. The purpose would never be to judge, but to support better conversations and better planning.
Last but not least, we would like to say we’ve drawn the winner of the promised hamper. Ailsa from Worcester has recently received a Fortnum & Mason Thank You hamper. Thank you again to everyone who took part, your feedback is helping us think carefully about how financial planning can continue to evolve in a way that is practical, personal and genuinely useful.
This article is for general information only and does not constitute medical, financial or investment advice. Wearable devices and health-related data should not be relied upon as medical evidence or diagnosis. Any financial planning discussion should take account of your individual circumstances, objectives and attitude to risk. If you are unsure, please seek advice from a qualified medical professional and talk to your financial adviser.