‘Collaboration’ is key to closing the financial literacy gap

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The advice gap is ever-growing and as a profession, financial advisers have a role to play. But is it solely up to the financial services industry?

A recently conducted poll on Twitter asked financial advisers what their views were on financial education in schools and whether it should be a collective effort by the advice / financial services industry or whether the onus should be on schools and the government.

More than half of the advisers said schools need to do more, around 32% said advisers need to help and some 13% said it’s not advisers' problem.

Collaboration seems to be a key necessity here in order for it to work and many of the larger financial advice businesses are already trying to do their bit, but what more can be done to reduce the advice gap and increase financial literacy?

This week FTAdviser deputy news editor Sonia Rach talks to Mina Karshala, board trustee at Young Enterprise, Jade Rose, wealth planner at Kingswood Group and Daniel Williams, IFA at Morgan Williams & Co and the current PFS Education Champion of the Year.

They discuss the extent to which schools and government have a role to play, how advisers can contribute and help and they also touch on the role of social media.

The FTAdviser Podcast is the podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues.

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