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17/02/2016

The UK’s highest-rated money skills programme for young people is coming to Southampton in an exciting new schools project.

Award-winning financial education charity MyBnk and Southampton-based, Old Mutual Wealth, have teamed up to arm over 3,500 students with real-life money skills through hands-on workshops.

Southampton is one of the UK’s most indebted cities, adding over £359m of unsecured loans to the country’s £1.45 trillion personal debt mountain. Locals also have a higher than national average cost of living.

With MyBnk, 11-18 year olds will learn how to budget, bank and borrow, understand taxes, tuition fees and employment rights and prepare for the cost of university and independent living.

Teachers are invited to register their interest with MyBnk now for access to free workshops.

The government’s Money Advice Service has deemed MyBnk’s projects for young people as the country’s most effective. After the sessions, students see a 40% increase in understanding of credit, interest rates and inflation, an 18% rise in positive attitudes towards money and a 25% jump in skills.

Guy Rigden, MyBnk Co-CEO, said:

“We are thrilled to be bringing money to life for young people in Southampton schools. Managing money well opens up new opportunities and helps make informed decisions. When it comes to debt, prevention is always cheaper than the cure and right now, as individuals, we owe £1.45 trillion! Schools, teachers, please get in touch.”

Paul Feeney, CEO, Old Mutual Wealth, said:Paul Feeney

“Gaining the skills and confidence to manage finances early in life is critically important. We are delighted to support MyBnk to expand their services in a local community where we are a major employer. Learning how to use credit effectively, tackle debt or make wise spending decisions will help the students to live more prosperous lives.”

 

About MyBnk

MyBnk is the UK’s leading trainer, designer and direct deliverer of financial and enterprise education programmes for young people.

Its experts bring a range of 100 minutes workshops covering topics such as saving, tax, budgeting and university finance, to 11-25 year olds in schools and youth organisations.

Programmes are created by its in-house team and young people. Education Officers are rigorously trained and are assessed by young people and teachers after every session. 

For more information contact

Declan Wilkes

Head of Communications, MyBnk

declan@mybnk.org

Notes to Editors:

Old Mutual Wealth is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Old Mutual Wealth oversees £131.3 billion in customer investments (as at 30 September 2017).

It has an adviser and customer offering spanning: Financial advice; investment platforms; multi-asset and single strategy investment solutions; and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Old Mutual Wealth’s multi-asset investment solutions business.

Following managed separation from Old Mutual plc, Old Mutual Wealth will rebrand to Quilter plc. Each of the businesses within the Quilter Plc group will be rebranded over a two-year period, with the exception of Quilter Cheviot, which will retain its existing name.

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million (as at 31 December 2016) customers across the world and has a total of £212.3 billion of assets under management (as at 30June 2017).

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

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These materials are not an offer to sell, or a solicitation of an offer to purchase, securities in the United States. The securities to which these materials relate have not been registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offering of the securities in the United States.

These materials do not constitute or form a part of any offer or solicitation or advertisement to purchase and/or subscribe for Securities in South Africa, including an offer to the public for the sale of, or subscription for, or the solicitation or advertisement of an offer to buy and/or subscribe for, shares as defined in the South African Companies Act, No. 71 of 2008 (as amended) or otherwise (the “Act”) and will not be distributed to any person in South Africa in any manner that could be construed as an offer to the public in terms of the Act. These materials do not constitute a prospectus registered and/or issued in terms of the Act. Nothing in these materials should be viewed, or construed, as “advice”, as that term is used in the South African Financial Markets Act, No. 19 of 2012, as amended, and/or Financial Advisory and Intermediary Services Act, No. 37 of 2002, as amended.

These materials are distributed in any member state of the European Economic Area which applies Directive 2003/71/EC (such Directive, together with any amendments thereto including Directive 2010/73/EU, the “Prospectus Directive”) only to those persons who are qualified investors for the purposes of the Prospectus Directive in such member state, and such other persons as these materials may be addressed to on legal grounds, and no person that is not a relevant person or qualified investor may act or rely on this document or any of its contents.

This document is being distributed to and is only directed at: (i) persons who are outside the United Kingdom; or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 as amended (the “Order”); or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “relevant persons”). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Old Mutual Wealth Management Limited, a Private Limited Company (Company Number 0604270), Old Mutual House Portland Terrace Southampton Hampshire SO14 7EJ.