The financial services industry is doing more for the greater good than many might think, although sometimes it is being wrongly perceived to be out to sell a product, says Nick Swales, chairman of the CISI Future Foundation.
"What the industry does is often underestimated," he tells FT Adviser In Focus. "There's an awful lot of people that I've come across in my working life doing things very quietly behind the scenes and don't want a big song and dance made about it.
"There are other initiatives which are more obvious. In aggregate, when we add all that up, there's an awful lot being done and I think it's down to the individual or perhaps the firm about how much publicity or otherwise they do or don't want for it."
He says there is a danger of financial institutions being perceived as wanting to sell a product when offering their services – something the CISI Future Foundation is hoping to get around.
"But in general I think an awful lot gets done that is unsung," he adds.
The Chartered Institute for Securities & Investment’s foundation was set up last year with a view to improving financial literacy skills and learning for young people.
It was the result of a surplus recorded by the body, which is itself a charity, which members decided should be put towards improving financial literacy.
To date it has made grants of more than £465,000 to seven organisations across the UK.
In future it plans to get access to different sources of funding.
Click on the image above to find out more about its plans.
carmen.reichman@ft.com
