Financial Literacy Czar – Let the Hiring Begin!

We have some good news out of Ottawa this week: The Financial Consumer Agency of Canada (FCAC) is officially on the hunt for a Financial Literacy Leader. This position won’t just be a step up for the successful candidate, it could also mean great things for Canadians as a whole.

The role, which will provide leadership and coordination of financial literacy initiatives across the country, is a crucial one. While understanding the basics of money – like how to budget, save, and invest – is important at every life stage, we’re reaching a critical point with our largest cohort of Canadians, the Baby Boomers. For them, retirement is here or just around the corner, and many unfortunately lack the understanding and resources to meet their needs. It’s important that we get out there now. All Canadians face financial risk and need informed guidance that will enable them to manage their money more knowledgably, effectively and confidently.

I’ve spoken before about the need for a Financial Literacy Czar and the challenges faced when trying to improve financial literacy on a national level. Investor Education Fund isn’t and won’t be sitting on the sidelines when it comes to tackling these issues. Rather, we’re geared to continue our work to enhance the ability of Ontarians and Canadians in becoming more financially literate. We are planning an exciting series of initiatives over the coming year to get our messages out and the learning in. We’re also looking forward to working with the new Financial Literacy Leader to make the most of collaborative opportunities.

But first, the role needs to be filled! The sooner we have someone in the position, the sooner we can start making an impact.

That’s my take. What’s yours?

Tom Hamza

President

Investor Education Fund

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