Financial Education Policy Committee

Our vision is to ensure that everyone receives a high-quality and effective financial education

Background and Purpose

Our vision is to ensure that everyone receives a high-quality and effective financial education in order to promote good financial habits early on in life. The purpose of this group is to consider, advise and lead industry initiatives that improve the provision of financial education from primary school age to young adulthood and beyond.

Previous evidence has shown that younger children aged 10–11 changed their financial habits following successful intervention in primary school. We understand that it shouldn’t stop here, as more recent studies have highlighted that many young people are still entering the world of work not being prepared for the money-related realities that lie ahead. This can lead to debt problems, affect their mental health and also find them suffering in the workplace.

Areas of focus

Ensuring everyone receives access to high quality and effective financial education early on in life.
Supporting the Centre for Financial Capability and its mission to ensure every child in the UK develops the skills and behaviours necessary to navigate critical financial decisions in their life – starting from primary school.
Supporting staff in the workplace with personal financial education, through training provision.

The Centre for Financial Capability
TISA supports new charity founded to target primary school financial education as new research shows almost a quarter worry about money.

TISA is delighted to support the Centre for Financial Capability and its mission to ensure every child in the UK develops the skills and behaviours necessary to navigate critical financial decisions in their life – starting from primary school.

This charity was formed by the backers of KickStart Money, an award-winning coalition of financial services firms founded in response to ground-breaking research by the Money and Pensions Service that showed money habits are formed by age 7. Now, having proven the impact of early intervention financial education, the members of KickStart Money put their commitment on a longer-term more sustainable footing to combat the key challenges preventing effective financial education for all.

Structure of Meetings

The Financial Education Committee meets quarterly, the TISA lead in this area is Carol Knight, CEO at TISA.

Achievements of the Group

TISA and the backers of our previous Kickstart Money scheme supported the launch of The Centre for Financial Capability (TCFC) in 2020 and its mission to ensure every child in the UK develops the skills and behaviours necessary to navigate critical financial decisions in their life – starting from primary school.
Following research highlighting a large gap in financial education in young adults and in the workplace, TISA successfully launched its first training initiative in 2022 on The Essentials of Money Management, which is aimed at providing people with the tools and confidence to make sense of everyday money matters, including budgeting, saving, investing and borrowing.

Participating member firms

Columbia Threadneedle Fund Management Limited
Enterprise Investment Scheme Association
Interactive Investor
Invesco
Investec Wealth & Investment Limited
JPMorgan Asset Management
Lloyds Banking Group
LVFS
Model Office
Money & Pensions Service (MAPS)
Nationwide
Northern Trust

OneFamily
Pensions Management Institute
Personal Finance Society
RateSetter
RedStart Educate
Schroders PLC
Scottish Friendly
Scottish Widows Plc
SS&C
St James Place Wealth Management
Tesco Bank
Young Enterprise

Carol Knight, Chief Executive Officer leads on this work at TISA

Chair: Robert Gardner, St James Place Wealth Management

If you are a TISA member, and would like to get involved with the Financial Education work, please get in touch

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Financial Education Groups & Resources