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Press comment: Parents call for financial education to take priority over other PSHE topics

12/02/2018

Jane Goodland, Responsible Business Director at Old Mutual Wealth comments:

“The MyBnk and MUFG research shows parents are asking for financial education to take priority over other PSHE subjects, like sex education, as they recognise that financial education will better equip their children with the knowledge they need to succeed in the world. 

Jane Goodland“Last year, the FCA’s Financial Lives Survey revealed an astonishing catalogue of statistics:  4.1 million have failed to pay bills or credit commitments in three or more of the last six months, 3.5 million Brits are borrowing from friends and family to make ends meet and only just over a third (35%) of those age 45-54 having prepared for retirement.

“An understanding of budgeting, investing and making financial plans is hugely important. Research shows being good with money is not only about numeracy, but about behaviours and attitudes which begin to evolve at a young age. The Money Advice Service has shown that many of these key financial habits are set by the age of seven. We urge the government to give serious consideration to introducing financial education onto the primary school curriculum in order to tackle the epidemic of financial illiteracy which blights families across the country.”

 

*Old Mutual Wealth supports KickStart Money, the collaborative project that aims to take financial education to over 18,000 primary school children and support calls for financial education to become a compulsory element of the Primary National Curriculum.

For more information contact

Kathleen GallagherOld Mutual Wealth023 8072 629307990 004932kathleen.gallagher@omwealth.com

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 £114.9 billion in investments (as at 31 March 2019).

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: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

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

The Quilter plc businesses are being re-branded as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Charles Derby Group (becoming Quilter Financial Advisers)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
  • Old Mutual International (becoming Quilter International in 2020)

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.