CII calls on planners to volunteer in schools

The Chartered Insurance Institute (CII) has called on financial planners to volunteer in schools, as part of a campaign to encourage financial education.

In a new board game distributed to sixth forms, volunteers will help students work their way through five scenarios with character clients who have varying attitudes to risk.

The CII said 80% of those who played the game would consider a career in financial planning after playing.

A survey of 2,884 CII and Personal Finance Society (PFS) members found 56% are unhappy with the UK education system's ability to provide students with satisfactory preparation for working in financial services, with just 51% considering school leavers' basic skills as adequate.

Julian James, CII president, said the tradition model of drawing talent from within the sector is no longer viable.

"To ensure the sector's vitality and secure long-term viability it's important we look to the next generation and make serious efforts in attracting highly talented young people," he said.

The CII is also encouraging members to offer work placements to students and school leavers. Only a third of financial planning firms currently offer any form of work experience.