Improving the consumer’s financial know-how

Can a financial professional’s role be made easier if their customers know more about basic finance, economics and therefore financial products? Jane Curtis, President of the Institute and Faculty of Actuaries, definitely thinks so, laying out several initiatives in her recent article on The Actuary website. In fact, she urges fellow actuaries, accountants and financial managers to get involved in some of the projects already underway. Projects start with teaching personal finance in school to all ages. For older students the actuarial profession is working with the Royal Statistical Society to promote the teaching of statistics. The profession also gets involved with initiatives for consumers such as the report produced by their ‘Consumer Information Working Party.’ Jane Curtis recommends their report as ‘enlightening and an essential read for anyone in the profession who has to draft communications for non-experts.’ Could you help consumers to be more financially literate? Read the full article at http://www.theactuary.com/opinion/2012/03/presidents-comment-never-too-young-to-learn/