The quest for the holy grail of financial literacy
By International Adviser, 9 Nov 17
Seven Investment Management’s Justin Urquhart-Stewart is on a personal crusade to promote financial literacy.
He sees parallels between financial professionals use of jargon and the perception in schools that maths is hard. He argues they fuel an unjustified mystique around aspects of financial planning, which is driving clients away.
Here are his four bugbears:
Build and promote smart technology
“We can teach people basic skills and they’ll take them a long way, but we can also offer them the tools to do the more complex stuff.
“We’ve done it by creating the free 7IMagine app, which uses modern gaming technology to bring your finances to life and help you estimate what you might need to do to help achieve your financial goals. It’s the old ‘carrot and stick’ approach, rebooted for the digital age.
“I want to see more creative apps that encourage consumers to understand their savings better.”
