The Personal Finance Society is urging the Government to make school lessons in financial education mandatory.
The IFA lobbying describes education in schools is a "key element to the financial welfare of the nation".
The Qualifications and Curriculum Authority (QCA) is this week expected to outline plans for schools to start teaching a subject called 'Economic Well-being' to children from the ages of 14.
Pupils will learn to manage their money, understand risk and reward as well as learn how money can be made through savings, investment and trade, but the class will not be compulsory.
However, Paul Lothian, director of the PFS, says this would be a mistake.
"I was disappointed to learn the adoption of financial planning isn’t mandatory," he says.
"They could have introduced it into the national syllabus as a mandatory subject or included it in one of the other subjects in the syllabus.
"There’s a lot of publicity over the savings gap and how to manage it…If people left school with knowledge of these things they would be less likely to be ripped off…school level is the place to start.”
Lothian also hit out at the Scottish educational authority for not jumping at the chance to adopt a similar scheme.
He adds: "The education of the public is a key element to the financial welfare of the nation. I would hope the Scottish executive would do something similar in the Scottish curriculum.”
Duncan Philp, senior consultant at Scottish IFA Macbeth Currie, agrees Scottish pupils would benefit from financial planning classes.
Philp, based in Fife, says IFAs in AIFA’s press club have approached Scottish schools about teaching financial planning but education authorities are uninterested.
However, there are industry-sponsored financial planning initiatives in Scotland.
Last month Standard Life and the Learning and Teaching Scotland and Scottish Book Trust launched On the Money, a financial capability project aimed at children.
The scheme teaches children between eight and 12 finances through storytelling. The stories include moral dilemmas relating to finance, debt, wants and needs with entrepreneurship and money management.
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