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MyBnk and Old Mutual Wealth launch money skills programme for Southampton students

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:

About Quilter plc:

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

Quilter plc oversees £116.5 billion in customer investments (as at 30 June 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset 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; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

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 Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.