The Quilter Foundation, the charitable arm of Quilter, has allocated £3.5m from its new Financial Futures Fund to three financial education partnerships.
Money Ready, Carers Trust and The London Foundation for Banking & Finance (LFBF) have been selected by the foundation as the first organisations to receive support over five years.
The £3.5m commitment will fund programmes designed to improve financial education, capability and confidence at key stages of life, from unpaid carers dealing with changing financial circumstances to young adults navigating employment, housing and independent living.
Money Ready, which has a long-standing partnership with the Quilter Foundation, will receive £1.1m. The funding will support 20,000 young adults, including 5,000 people at risk of homelessness, with practical financial education covering areas including budgeting, saving, debt, tax and tenancy management. Money Ready will also facilitate a volunteer-led financial education programme in schools with the foundation’s support.
Carers Trust will receive £1m to develop a financial education programme for unpaid carers. Delivered through five local ‘Quilter Hubs’ alongside digital support, the programme is expected to reach 16,830 carers, providing practical support around budgeting, financial entitlements and longer-term financial planning.
LFBF, with support of up to £1.4m, will develop and roll out an AI-powered money coaching solution designed to provide accessible and personalised financial guidance when people need it most. Its initial rollout will focus on university and college students, before the model is expanded through charity partners to reach wider groups.
Since launching in 2018, the foundation has directly supported over 130,000 people through 64 charity partnerships across the UK.
The foundation has also appointed two new independent trustees, Sarah Dryden, LFBF’s director of research, and George Reid, a former Quilter board member.
Steven Levin, CEO of Quilter and chairman of the Quilter Foundation, said: “Through these partnerships, we are committing significant, long-term funding to three organisations with the expertise and ambition to help address this.
“Whether someone is adapting to the financial impact of becoming an unpaid carer, managing rent and bills for the first time or simply needs somewhere trusted to turn with a money question, the right financial education at the right time can make a significant difference.”
He added: “By combining funding with the expertise and volunteering support of Quilter colleagues and advisers, we want to give more people the skills and confidence to take control of their money and build a stronger financial future. I’m also pleased to welcome Sarah and George as trustees, whose considerable experience across financial services, financial capability and the charity sector will support us in delivering the Foundation’s ambitions.”
