A programme to invest £1m in financial education in schools has been launched by TISA and 16 financial services firms, including Old Mutual Wealth and Columbia Threadneedle.
KickStart Money aims to initially invest £1m to take financial education into 100 primary schools, reaching nearly 18,000 pupils.
It has already been awarded £80,000 by the Money Advice Service.
The initiative is headed up by Rupert Pybus, global head of marketing at Columbia Threadneedle, and Jane Goodland, responsible business head at Old Mutual Wealth, and will be managed by the Tax Incentivised Savings Association (TISA).
The full list of firms supporting the project are: Aberdeen Asset Management, Alliance Trust Savings, Allianz Global Investors, Aviva, AXA Investment Managers, BlackRock, BMO Global Asset Management, Columbia Threadneedle Investments, Henderson Global Investors, Legg Mason Global Asset Management, LGIM, Old Mutual Wealth, Prudential UK & Europe, Redington, Schroders and Standard Life.
Research by the Money Advice Service has found only 40% of seven to 17-year-olds have received financial education in school, less than half of people aged 12-17 feel confident managing money, while 44% of parents did not feel secure in this area.
As a result, the first topics to be covered will include savings, budgeting and public finance.
Lord Hutton, former Secretary of State for the Department of Work & Pensions, said: "Learning about the basics of money is essential if we want to build a more financially literate nation. KickStart Money is an exciting and much needed new project aiming to help young students to understand the consequences of debt as well as the importance of saving and investing for their future."
Charles McCready, director of TISA, said: "We are thrilled to initiate an industry sponsored project with the common aim of helping future generations be more financially resilient.
"This builds on one of the six policy recommendations to emerge from TISA's Savings & Investments Policy project (TSIP), which identified education as being key to improving financial wellbeing. Research shows key behavioural attitudes to money are formed by age 11, so it is great to see TSIP's original policy idea evolve into this targeted programme to tackle the current lack of financial education resources for children."