Financial Services should be a compulsory subject until the age of 16 in every school in the UK.

The subject should cover:

UK Regulatory structure and your rights as a consumer

Distribution channels (bancassurers, IFAs, Direct sales etc) and the advice process including the key sales documents.

Concept of risk

Types of financial products, Savings, Investments, Bonds, pensions, Mortgages

Basic Tax planning

State benefits

Projections, charges, fees and costs.


Why is this idea important?

There is no better regulator than a knowledgeable consumer.

Te huge raft of regulation introduced in the last 10n years has not stopped the recurring financial scandals that have blighted the economy (pension mis-selling, endowment mis-selling, Equitable life etc).

Something as complicated as financial services cannot be controlled by regulation alone. Consumers must be able to distinguish for themselves when a practise is shady or a product too risky or the issues we have faced will keep re-occurring.

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