THE charitable arm of a major Southampton employer is funding financial education programmes in the city for the next three years.

The Quilter Foundation announced a “renewed and expanded” partnership with the charity MyBnk.

The two organisations will provide financial education to more than 9,000 people aged seven to 25 in Southampton and London.

They have collaborated since 2016, delivering financial education to children aged 11-18 in schools and colleges in areas with children who have low financial capability or are from disadvantaged backgrounds.

The expansion will see the projects reach children aged seven to 11. It will also help deliver two programmes aimed at providing “survival money skills” to more than 1,200 vulnerable young people aged 16-25.

The Quilter Foundation is the charity of the wealth management business Quilter PLC, which employs 1,500 people in Southampton, where it owns the investment platform business previously called Old Mutual Wealth.

Stewart Perry, head of responsible business at Quilter said: “I am thrilled to announce our continued partnership with MyBnk. We are proud to continue to be a part of creating sustainable and systematic change through ‘best in class’ financial education. We recognise that to bring about change and truly impact the next generation we need to fix low financial capability, particularly amongst the most disadvantaged, and give children the tools to manage their money effectively.

“The nation is still coping with the economic impact of the pandemic and young people, particularly the most vulnerable, are likely to continue to disproportionately bear the brunt of this. Therefore, now is the time to be ploughing our efforts into ensuring this generation have the knowledge to ensure they don’t make costly financial mistakes and achieve financial wellbeing.”

Guy Rigden, chief executive of MyBnk, said: “We know that money habits are formed at primary school age and that young adults are facing a series of unprecedented economic pressures. This partnership will ensure young people receive a meaningful financial education to help them start saving and living independently.”

MyBnk and the Quilter Foundation said the programmes would bring Southampton communities together and help change the future for thousands of young people.