Personal Finance Society  

PFS sees 900 members join pro-bono work

PFS sees 900 members join pro-bono work
 Keith Richards, chief executive of the PFS

More than 900 members of the Personal Finance Society have joined its pro-bono programme to provide financial education in schools across the country.  

It comes as the professional body has launched a website to continue educating students despite national school closures as a result of the coronavirus lockdown. 

The My Personal Finance Skills programme sees advisers deliver financial workshops to students aged between 14 and 18 years old, with the professional body last year setting its sights on rolling out the scheme to every school in the UK. 

Under the current social distancing measures students will be able to access workshops via the newly-launched website, which cover scam awareness, moving on from school, future finances and how to make financial decisions.

Before the coronavirus outbreak, and under the guidance of more than 900 PFS members, the programme delivered 400 workshops to 12,000 students in the current academic year. 

Keith Richards, chief executive of the PFS, said: "We launched My Personal Finance Skills as a pro-bono programme allowing members to demonstrate the professions wider commitment to financial awareness and education by serving to wider community they operate in.

"While in-school workshops are currently on hold due to the ongoing Covid-19 outbreak, the Personal Finance Society has adapted our in-school material to offer students free online financial education.

“We hope teachers, parents and pupils find these online sessions useful in educating the nation’s teenagers about money matters while school buildings remain closed to pupils whose parents aren’t identified as key workers."

Under usual circumstances the professional body trains its advisers to deliver the workshops, which are designed to fit within a typical one-hour school lesson. 

Last year the PFS estimated its members gave more than one million hours of free financial guidance each year, making them the biggest source in the country.

In September last year Mr Richards estimated 24,000 of the professional body's members who provide regulated advice had either committed to its pro-bono programme or provided free financial guidance of their own accord. 

rachel.mortimer@ft.com 

What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know.