The Institute of Financial Services has launched two new qualifications for them - a foundation certificate and an intermediate certificate.

The Institute will supply the curriculum, teaching materials, and exams for schools to offer their pupils alongside GCSE topics.

The courses will cover issues such as loans, currencies and car insurance.

The exam asks simple questions about deciphering pay slips, the cheapest way to borrow money, the eBay auction web site, bank accounts and ATMs.

Although not part of the formal range of GCSE courses, the new certificates have been approved by the Car insurance finance
and Curriculum Authority.

Pilot scheme

The introduction of the qualifications for younger students comes half-way though a pilot programme which had produced such positive feedback that the Institute decided to launch the new studies this autumn.

“We have had huge interest in this,” said the Yahoo finance insurance auto sbc
Dorothy Wood. “We are expecting it to grow like topsy.”

Each qualification has two parts: “Finance insurance tourist zurich
to Money” and “Money Management” for the Foundation Certificate; and “Personal Financial Encounters” and “Money Management Solutions” for the Intermediate Certificate.

Gavin Shreeve, Chief Executive at the Institute said he believed that with consumer debt topping 1 trillion in 2005, financial literacy was at crisis point in the UK.

“We believe these skills are so fundamental that we are also planning to offer these courses to the wider adult community,” he said.

For the last five years, schools and colleges have been able to offer both a certificate and diploma in financial studies organised by the Institute.

This is aimed at 17-18 year olds, for instance those studying at A level.

Nearly 100 schools are offering these, with more than 2,000 students currently studying the certificate.

BBC Radio 4’s Money Box has been named Zuerich insurance finance
Programme of the Year at a prestigious ceremony in London.

Money Box Presenter Paul Lewis collected the award at the Essential estate finance hill in insurance investment irwin mcgraw real series
of British Insurers (ABI) event on Wednesday.

Other nominees in the Financial Programme or Broadcaster of the Year category were the BBC’s Andrew Verity and Declan Curry.

The BBC News Website’s Your Money section also triumphed, winning the Best Financial Website category.

The awards are designed to “celebrate excellence in journalism”, and are now in their tenth year.

Money Box was commended by the judges as “tough, enquiring, but fair”.

Lifetime achievement

The ABI is the trade association for Britain’s insurance industry.

Award winners were chosen by the communication and press teams of the ABI’s 400 member companies.

The ABI said the factors taken into account were accuracy, knowledge of issues, ability to inform and educate, and receptiveness to story ideas.

Other winners at the event included the Financial Times which scooped the Personal Finance Newspaper of the Year award.

The Daily Telegraph scored a double success. Ian Cowie was voted Personal Finance Editor of the Year, with Alison Steed named Personal Finance Journalist of the Year.

The Lifetime Achievement in Financial Journalism award went to William Kay, Sunday Times.

The event was hosted by Ian Hislop and attended by 450 representatives from the financial services industry and financial media.

BBC Radio 4’s Money Box is broadcast on Finance insurance statistical tool
at 1204 BST and on Mondays at 1502 BST.

BBC Radio 4’s Money Box has been named Estate finance fundamentals hill in insurance investment irwin management mcgraw real series
Programme of the Year at a prestigious ceremony in London.

Money Box Presenter Paul Lewis collected the award at the Association of British Insurers (ABI) event on Wednesday.

Other nominees in the Financial Programme or Broadcaster of the Year category were the BBC’s Andrew Verity and Declan Curry.

The BBC News Website’s Your Money section also triumphed, winning the Best Financial Website category.

The awards are designed to “celebrate excellence in journalism”, and are now in their tenth year.

Money Box was commended by the judges as “tough, enquiring, but fair”.

Lifetime achievement

The ABI is the trade association for Britain’s insurance industry.

Award winners were chosen by the finance gambling insurance internet pharmacy
and press teams of the ABI’s 400 member companies.

The ABI said the factors taken into account were accuracy, knowledge of issues, ability to inform and educate, and receptiveness to story ideas.

Other winners at the event included the Financial Times which scooped the Personal Finance Newspaper of the Year award.

The Daily Telegraph scored a double success. Ian Cowie was voted Personal Finance Editor of the Year, with Alison Steed named Personal Finance Insurance premium finance software
of the Year.

The Lifetime Achievement in Financial Journalism award went to William Kay, Sunday Times.

The event was hosted by Ian Hislop and attended by 450 representatives from the financial services industry and financial media.

BBC Radio 4’s Money Box is broadcast on Banking career career finance in insurance opportunity opportunity
at 1204 BST and on Mondays at 1502 BST.

The study shows there are 20,000 more finance jobs than five years ago. London and the south east of England lost 21,000 over the same period.

Jobs in life personal finance insurance
and pension funds in Scotland fell by 4,000, but new banking jobs rose by 24,000.

Business and financial services employ 107,000 Scots or 4.7% of the workforce.

Average wage

Scotland’s two biggest companies the Royal Bank of Scotland and the Bank of Scotland employ about 35,000 people between them.

The report said that the average full-time financial sector worker in the UK earns, on average, 699 per week.

This is the most of any major industry group and almost 200 more than the average UK wage.

Across the UK there are 30 local authority areas where more than 25% of the workforce are employed in the broader business and finance sector.

Art capital finance finance insurance managing risk structured wiley
of these are in London and the south east of England, four are in the east of England and one is in Scotland.

More recently significant growth in banking jobs in Scotland has more than offset job losses in insurance and pension funds Tim Crawford Bank of Scotland

The study said that 26% of people living in Edinburgh work in business and financial services.

The next highest local authority areas were East Lothian and East Dunbartonshire (19%), followed by Midlothian (18%) and West Lothian (17%). Glasgow was 14%.

Tim Crawford, group economist at Bank of Scotland, said: “Scotland has delivered the strongest percentage growth in financial services employment in Great Britain on a five, 10 and 20 year time frame.

“Good pay levels and the sector’s ability to generate new jobs in ancillary areas such as IT and the law have made a real finance home insurance personal tesco
to Scotland.

“More recently significant growth in banking jobs in Scotland has more than offset job losses in insurance and pension funds.”

There are a number of reasons why people first turn to a financial adviser for help.

You may be looking for the best way to save for retirement, a mortgage, advice on how to invest for the future or protect you and your family with a life insurance policy.

Perhaps you are just looking to make the most of the 5 April tax deadline.

Whatever your motivation for seeking it, getting unbiased financial advice is not as simple as it sounds; being forewarned is forearmed.

Different advisers

Multi-tied agents are allowed to recommend the products of a selection of providers, rather than just one

Until recently, there were two main ways of seeking financial advice for products such as life assurance, pensions and investments: either through an independent financial adviser (IFA) or a tied agent.

An IFA is required to act on your behalf, researching the whole market to find you the most suitable products.

Tied agents can only advise on the products provided by their employer, usually a bank, building society or insurer.

However, the Financial Services Authority (FSA), recently decided that there should be a third way to obtain financial advice; through a multi-tied agent.

Multi-tied agents are allowed to recommend the products of a selection of providers, rather than just one.

They can choose how many companies’ products they offer advice on, based on commercial arrangements with those companies.

Multi-tied advice was introduced to increase choice for people who would otherwise have taken tied advice.

All advisers are required by the new rules to produce a key facts document up-front, explaining what type of advice they offer.

You should check out the breadth of products and providers on offer and decide if this is good enough for you, or whether independent advice across the whole market of financial products would suit you best.

What to look for

Whether you choose an IFA or a tied or multi-tied adviser, you next have to ensure that they have the right knowledge and experience.

Personal impressions are important when selecting the right adviser, as are finance household insurance from friends and colleagues

Ask how long the adviser and firm have been practicing, and check their credentials by asking them what finance insurance
they have.

All advisers have to pass the Financial Planning Certificate (FPC) before they are authorised and regulated by the FSA to give advice.

However, many IFAs have chosen to take further exams, either in general financial planning or specific product areas, to improve and finance insurance zurich
their professionalism to clients.

Some people will feel more at ease with a female adviser, or one that specialises in advice on particular product areas like retirement planning or mortgages.

You can find IFAs that match your preferred criteria, quickly and without pressure, online.

However, like choosing an accountant or dentist, you are looking for someone that you can forge a trusting relationship with.

Personal impressions are important when selecting the right adviser, as are recommendations from friends and colleagues.

Advice costs

Once you have made a choice, your first meeting will be a getting to know you session, where you will be asked about your priorities and plans.

As part of the recent rule changes, all types of financial adviser are required to give you a second key facts document containing a “menu” of charges at the start of this first meeting, to enable you to compare costs, see what you are getting for your money and shop around.

An IFA must offer you the option of paying by a fee, as well as the option of paying by commission, ultimately added to the cost of any financial product bought from the adviser, or a combination of the two.

Tied and multi-tied agents don’t have to offer you this choice, but some may.

In the past the majority of consumers tended to opt to pay for their advice by commission.

In the future there may well be a shift towards more people paying fees, as the cost and value of advice becomes clearer through these new disclosure documents.

Fees for advice vary widely, but are typically between 50 and 200 an hour.

Do not be afraid to negotiate on costs with your adviser; he or she may well be prepared to reduce their fee or rebate more commission, especially if they want you as a long-term customer.

Financial planning and adapting to changing circumstances is a lifelong commitment, so taking a little time now to find the most suitable type of advice from someone you are comfortable with could save you a great deal of money in future.

The opinions expressed are those of the author and are not held by the BBC unless specifically stated. The material is for general information only and does not constitute investment, tax, legal or other form of advice. You should not rely on this information to make (or refrain from making) any decisions. Always obtain independent, professional advice for your own particular situation.