ASIC ups focus on financial literacy
The Australian Securities and Investments Commission (ASIC) is showing its support for National Close the Gap Day, introducing a financial literacy tool for indigenous students and aiming to address cultural and community values around money and finance.
ASIC’s financial literacy teaching resource – Knowing, Growing, Showing, would be presented in three stages to provide progressive learning for students and focus on individual interests. Knowing would provide an introduction to the basics of money, while growing would aim to develop skills for smart financial decisions. The final stage would see students apply their learning successfully.
Indigenous Australians were a key priority under the National Financial Literacy Strategy coordinated by ASIC, as well as in the regulators’ Indigenous Outreach Program (IOP).
“Knowing, Growing, Showing is one way we are working collaboratively with schools to equip students with the skills and strategies needed to manage their money,” ASIC commissioner, Cathie Armour said.
“Having the right skills and knowledge to understand financial concepts, such as budgeting, saving and managing debt will support their financial wellbeing.”
AUTHOR
Hope William-Smith
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
