Education can help restore confidence in financial services

Phil Hall, Head of Media & Public Affairs at the ifs School of Finance said, "The financial services sector is in turmoil, and is likely to stay that way for the foreseeable future. No one can make assumptions about the final shape and structure of the industry but one certainty is that education and good practice will be critical to rebuilding a sustainable sector."

The position statement sets out four key areas requiring attention as well as identifying how the ifs School of Finance will play its part in addressing these areas: 1) education for the consumer 2) education for sales staff/customer advisers 3) education for financial managers 4) education for current and future industry leaders.

The document concludes, "With almost 130 years experience in financial education, over 20,000 holders of financial services qualifications at degree level and over 80,000 students in 100 different countries, the ifs School of Finance is a global leader in financial learning at all levels.

As such, we are uniquely placed to support the industry in re-establishing a core of financial learning and development, and to assist individuals from all walks of life to understand their personal finances better. This experience will play a vital role in assisting both the industry and consumers in rebuilding trust and confidence in the financial services industry."