St James’ Place Wealth Management launches financial literacy portal for children as young as 3 y/o

St James’s Place Wealth Management (SJP) announced on Wednesday (6 January) the launch of its new online financial literacy portal Money123 in Asia, which provides one-stop access to children financial education resources.

The wealth management group operates across the United Kingdom (UK), Singapore, Hong Kong and China, with over £118 billion of client funds under management to date.

In a statement today, SJP said that Money123 consists of a variety of informative materials designed to educate children on the concept of money in an easy-to-follow and engaging way, using interactive videos and child-friendly workshops.

The firm aims to guide children in the age range of 3 to 18 years old on their personal finances and help them build good financial habits via the portal so that children are able to achieve financial well-being for their future.

It added that the initiative was created based on the concepts of “Earn it, Keep it, Grow it” introduced in the children’s book titled “Save Your Acorns” by SJP’s director of investments Robert Gardner.

Mr Gardner, who also chairs the Children’s Financial Education Policy Council in the UK, emphasised the need for the younger generation to grasp financial education at an early age in order to get them “on the right path sooner”.

“Now is an excellent opportunity to start the conversation and set the foundations for good saving and investing habits that will last a lifetime,” he remarked.

SJP noted that Money123 also hosts workshops and research papers in both English and Cantonese, adding that the portal will have new webinars and tools related to other aspects of financial literacy in the coming months.