New centre aims to ease consumers’ financial plight

Aug 09, 2013

 

The new centre is the result of a partnership between The Open University Business School and financial services organisation True Potential.
 
Its primary aims will be to offer insight through research into financial understanding and to deliver free modules and courses to help develop knowledge of financial matters.
 
The True Potential Centre for the Public Understanding of Finance has been set up following new research by the Financial Services Authority that stressed the urgent need for greater understanding of finances by consumers.
 
True Potential LLP managing partner David Harrison, an OU MBA alumnus, said: “Many people in Britain have a very uneasy relationship with money and we want to do everything we can to help fix that.
 
“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.”
 
OUBS dean Professor Rebecca Taylor said: “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.”
 
The True Potential PuFIN research will be broadcast through academic and professional conferences, journals, seminars and social media, supported by an external engagement plan.
 
It will deliver information that consumers can use to make a real difference to their personal financial management, says the OUBS.
 
Mr Harrison said: “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.”
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