High schoolers should learn financial literacy



Financial literacy training should be embedded in the high school curriculum, a review has concluded.
After a lengthy consultation process, The Australian Securities and Investments Commission (ASIC) came up with a series of financial literacy priorities for the next three years, the cornerstone of which was educating the next generation about finance.
The plan involves educating school teachers to confidently talk about financial literacy and formalising its teaching in the high school syllabus.
Other priorities included increasing the number of trustworthy internet sources of information for consumers and investors and improving referral and support networks.
When asked about current gaps in the market, respondents identified access to low-cost services for those not in crisis, information tailored to indigenous people, and financial literacy programs in workplaces as areas that need improvement.
The consultation, which elicited 58 written responses, formed the basis of ASIC’s financial literacy strategy paper for 2014-2017.
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.