Quilter Foundation announces £3.5m five-year financial education partnerships
Byline: Karen Jones, founder of Citywealth, has more than 20 years’ experience in global private wealth.
As the UK marks Talk Money Week, which encourages people to have more open conversations about money, the Quilter Foundation, the charitable arm of Quilter plc, has announced £3.5 million of five-year strategic funding for three programmes designed to help people build the knowledge, confidence and practical skills to better understand and manage their money.
The Foundation has selected Money Ready, Carers Trust and The London Foundation for Banking & Finance (LFBF) as the first organisations to receive support through its new Financial Futures Fund.
The £3.5 million commitment will fund programmes designed to improve financial education, capability and confidence at key stages of life, from unpaid carers dealing with changing financial circumstances to young adults navigating employment, housing and independent living.
Money Ready will receive £1.1 million over five years, extending its long-standing partnership with the Quilter Foundation to 17 years. The programme will support 20,000 young adults, including 5,000 people at risk of homelessness, with practical financial education covering areas including budgeting, saving, debt, tax and tenancy management. In addition, with the Foundation’s support, Money Ready will facilitate a volunteer led financial education programme in schools.
Carers Trust will receive £1 million over five years to develop a financial education programme for unpaid carers. Delivered through five local ‘Quilter Hubs’ alongside digital support, the programme is expected to reach 16,830 carers, providing practical support around budgeting, financial entitlements and longer-term financial planning.
LFBF, with support of up to £1.4 million over five years, will develop and roll out an AI-powered money coaching solution designed to provide accessible and personalised financial guidance when people need it most. Its initial rollout will focus on university and college students, before the model is expanded through charity partners to reach wider groups.
The partnerships form part of the Quilter Foundation’s new strategy to create brighter financial futures through financial education and capability. Since launching in 2018, the Foundation has directly supported over 130,000 people through 64 charity partnerships across the UK.
The Foundation has also appointed two new independent trustees, Sarah Dryden, LFBF’s director of research, and George Reid, a former Quilter plc board member, bringing further expertise across financial capability, financial services, governance and the charity sector.
Steven Levin, CEO of Quilter and chairman of the Quilter Foundation, said:
“Talk Money Week is an important reminder of the role that open conversations can play in building financial confidence. But those conversations need to be backed by practical support, particularly for people reaching important moments in their financial lives without the knowledge or confidence they need.
“Through these partnerships, we are committing significant, long-term funding to three organisations with the expertise and ambition to help address this. Whether someone is adapting to the financial impact of becoming an unpaid carer, managing rent and bills for the first time or simply needs somewhere trusted to turn with a money question, the right financial education at the right time can make a significant difference.
“By combining funding with the expertise and volunteering support of Quilter colleagues and advisers, we want to give more people the skills and confidence to take control of their money and build a stronger financial future. I’m also pleased to welcome Sarah and George as trustees, whose considerable experience across financial services, financial capability and the charity sector will support us in delivering the Foundation’s ambitions.”
Rhodri Mason, Chair at Money Ready, said:
“Too many young people reach major financial firsts, from earning a wage to managing rent, bills and debt, without the knowledge and confidence they need. This investment will allow us to reach 20,000 young adults with practical financial education and skills they can carry with them throughout their lives.”
Leo Visconti, Executive Director of Income Generation and Engagement at Carers Trust, said:
“Becoming a carer can have a disastrous effect on someone’s finances. And all too often, these financial problems are made worse when they come at the same time as carers find themselves facing significant demands on their time and wellbeing. That’s why we’re so delighted to be partnering with the Quilter Foundation. Our partnership will help thousands of unpaid carers build greater financial confidence and plan for the future. And just as importantly, it will help us extend that support out across our wider network of local carer services.”
Shelley Doorey-Williams, CEO of LFBF, said:
“This partnership gives us the opportunity to further roll-out an accessible and trusted solution for people to ask financial questions and build their confidence. Starting with students, our ambition is to combine technology with trusted financial education content to make high-quality financial guidance available at scale and at the times when people need it most.”
Key Takeaways
- The Quilter Foundation announces £3.5m five-year financial education partnerships during Talk Money Week.
- They will fund three programmes: Money Ready, Carers Trust, and LFBF, to enhance financial skills and confidence.
- Money Ready will support 20,000 young adults with practical financial education, especially those at risk of homelessness.
- Carers Trust will reach 16,830 carers, offering budgeting and financial planning assistance.
- LFBF plans to develop an AI-powered coaching solution for students, aiming to extend financial guidance access.
Karen Jones is the founder of Citywealth and a wealth management commentator with more than 20 years’ experience across global private wealth, family offices and succession. Before founding Citywealth in 2005, she held publishing roles at The Times and The Sunday Times, London; Legal Business magazine; and worked on the Asia Pacific Legal 500.
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