For Immediate Release: Thursday 27 May 2004
UNDERSTANDING INVESTMENT RISK A KEY PART OF FSA FINANCIAL CAPABILITY STRATEGY, SAYS IMA
The Investment Management Association welcomes the FSA's paper, "Building Financial Capability in the UK", and will be bringing to the project its expertise in helping people to understand investment.
Understanding investment is a key part of financial planning for many people, whether they are just starting their first job or looking forward to retirement.
Improving the means to educate, inform and advise members of the public has been a constant theme of IMA's work. As a founder member of the Personal Finance Education Group (PFEG), the author of a range of fact sheets and a campaigner to enhance advisers' expertise on investment matters, IMA has the experience to assist the Regulator in developing and implementing its strategy.
IMA's role will focus largely on improving individuals' understanding of risk. Last September it issued "Introducing Investment", a guide written with this objective in mind, putting consumer needs first and product information second.
Victoria Nye, Director of Training and Education at IMA commented:
"IMA's goal is to arm people who can invest, with the information to do so wisely. Our information service is designed to help potential and existing investors to understand the associated risks, as well as the potential gains. Our plan is to extend this service through partnerships with other organisations and IFAs."
The IMA has a range of fact sheets and guides which are available by calling the Unit Trust Information Service by calling 020 8207 1361 or by visiting the IMA website.
For further information, please contact:
Helen Stephenson, Communications Officer, IMA, 020 7831 0898
Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089332