Istruzione e Formazione
Family Offices Address Inadequate Financial Literacy in Schools by Partnering With Private Tutors
Adam Caller , CEO of Tutors International, comments:
There is evidence of a problem around financial literacy in private school education. The standard of financial literacy taught in private schools in the UK varies from school to school. There is no national curriculum for financial literacy in the UK, so private schools are not required to teach any specific financial topics.
A 2023 survey by the Money and Pensions Service found that less than half of UK children have been taught about money at home or in school.[1] This suggests that there is a need for more financial literacy education in all schools, including private schools.
To address the problem, some private schools in the UK now offer more comprehensive financial literacy programs, for example:
UHNW families often feel that the financial literacy curriculum in schools is too limited and does not cover all of the topics that their children need to know. They may want their children to learn about complex financial concepts such as estate planning, philanthropy, and managing wealth across generations.
They may need to learn about topics such as dealing with the complexities of trusts and foundations, managing wealth across generations, and navigating the unique tax implications of their wealth.
To address these perceived shortcomings, UHNW families are taking proactive measures to supplement their children's financial education.
Hiring private tutors can provide more in-depth instruction on complex financial topics and tailor their teaching to the specific needs of the child, addressing the limitations of the standard curriculum.
Adam Caller , CEO of Tutors International, comments:
Private Tutors are implementing a variety of initiatives to enhance financial literacy among students:
Joanna Dunckley Phillips has been a private tutor with Tutors International for more than 10 years, and she explains how incorporating real-life examples of financial concepts into day-to-day teaching, and having the time and freedom to explore them further is one of the great advantages of private tutoring:
Private Tutor, Mark Cleaver , agrees:
[1] UK Children and Young People's Financial Wellbeing Survey: Financial Foundations, 2023, Money and Pensions Service, https://maps.org.uk/en/media-centre/press-releases/2023/less-than-half-of-uk-children-have-been-taught-about-money#
Tutors International provides an unparalleled private tutoring service that matches the right private home tutor with the right child for the student to reach their personal potential and academic excellence fully. Delivering an international private tuition service for children of all ages at different points in their educational journeys, Tutors International is founded on a commitment to finding the perfect tutor to realise each student's specific goals and aspirations. Tutors are available for full-time residential positions, after-school assistance, and home-schooling .
Founded in 1999 by Adam Caller , Tutors International is a private company based in Oxford , a city renowned for academic excellence. Our select clientele receives a personally tailored service , with discretion and confidentiality guaranteed.
Web: www.tutors-international.com
Email: marketing@tutors-international.com
Phone: +44 (0) 1865 435 135
Tutors International
Prama House
267 Banbury Road
Oxford OX2 7HT
England
Photo - https://mma.prnewswire.com/media/2295756/Tutors_International.jpg
Logo - https://mma.prnewswire.com/media/699064/4445114/Tutors_International_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/family-offices-address-inadequate-financial-literacy-in-schools-by-partnering-with-private-tutors-302009180.html