The company found that a quarter of 18-24 year olds in a survey lacked confidence when it came to managing their money and only 10 per cent felt they had received an adequate or good level of financial education while at school.
Course subjects will include: budgeting and managing debt, tax, employer benefits, savings and pensions, purchasing property and making a long-term plan.
Jo Thresher, head of money at work at Jelf Employee Benefits, said: “Many graduates may not know or understand what to do with their money – especially if they’ve been supported by the bank of Mum and Dad.”
This announcement came as the AIC encouraged parents to start the savings habit early.
Citing figures that a £100 investment into the average investment trust would have grown to £428 over the 18 years to 31 October 2015, Annabel Brodie-Smith, communications director at the AIC, said: “Parents might like to contribute towards a gift that can last long into the future, and an investment trust can be a useful way to access the long-term potential of the stock market.”
Adviser view
Robin Keyte, financial planner at Somerset-based Keyte Chartered Financial Planners, said:
“One of the points the AIC made is the number of investment trusts which have successfully run children’s saving plans over the years. The main benefit to regular saving in this way is pound-cost averaging.”
