The True Potential Centre for the Public Understanding of Finance (PUFin) will deliver free modules to develop knowledge of financial matters, and will offer insight through research into financial understanding.
David Harrison, managing partner of True Potential LLP, is an MBA alumnus of the OU Business School. He says:
"We want to arm people with the knowledge and information they need to enable them to embrace their financial dealings, to ask the right questions of the right people, and to eventually fix the savings gap that is presenting an incredibly serious problem to the UK.
“This is something that I have felt strongly about for many years and we are investing in the True Potential PuFIN in a bid to make a real long-term difference to people’s personal finances.”
Professor Rebecca Taylor, Dean of the Open University Business School, says: "We will together create a learning journey that will provide individuals with the skills and confidence to take control of their finances, building from the basics of understanding personal finance products to understanding investment and risk.
"PUFin will help to address the urgent need for greater understanding by consumers, as highlighted by recent research from the Financial Services Authority."
This research suggests that only 45 per cent of people aged over 30 and earning at least £10,000 are making adequate provisions for retirement, and that few will be able to afford to retire at age 70.
Posted 23 July 2013
