{"id":234919,"date":"2025-11-20T13:59:11","date_gmt":"2025-11-20T18:59:11","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=234919"},"modified":"2025-11-21T12:11:26","modified_gmt":"2025-11-21T17:11:26","slug":"whats-the-real-cost-of-financial-illiteracy","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/podcasts\/ibkr-podcasts\/whats-the-real-cost-of-financial-illiteracy\/","title":{"rendered":"What\u2019s the Real Cost of Financial Illiteracy?"},"content":{"rendered":"\n<p>In this episode, Gerry Perez, CEO of IBKR UK, joins us to dive deep into the hidden price of financial illiteracy and why it matters for everyone, from students to seasoned investors. Join us as we explore practical strategies, expert insights, and innovative tools that make financial education accessible and empowering.<\/p>\n\n\n\n<iframe title=\"What\u2019s the Real Cost of Financial Illiteracy?\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);height:150px;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?i=pkmpw-19cc8dc-pb&#038;from=pb6admin&#038;share=1&#038;download=1&#038;rtl=0&#038;fonts=Arial&#038;skin=1b1b1b&#038;font-color=ffffff&#038;logo_link=episode_page&#038;btn-skin=c73a3a\" loading=\"lazy\"><\/iframe>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-summary-ibkr-podcasts-ep-323\">Summary \u2013 IBKR Podcasts Ep. 323<\/h2>\n\n\n\n<p><em>The following is a summary of a live audio recording and may contain errors in spelling or grammar. Although IBKR has edited for clarity no material changes have been made<\/em>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-nbsp\"><strong>Andrew Wilkinson<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Welcome to today&#8217;s podcast. Financial literacy is a big topic across the globe, and today we&#8217;re focusing on financial literacy in the UK. There\u2019s a gap between perception and knowledge. At IBKR, financial literacy has been an important part of our mission to empower our customers. We\u2019ve been transformative in promoting financial literacy and have made great inroads on the topic. Today, I\u2019m joined by Gerry Perez, CEO of IBKR in the UK, who\u2019s going to share insights on how IBKR has been impactful in the UK market. Gerry, welcome. How are you?&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gerry-perez-nbsp\"><strong>Gerry Perez<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Andrew, thank you once again for inviting me to your podcast. I\u2019m looking forward to today\u2019s discussion, which is a very important topic.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-nbsp-0\"><strong>Andrew Wilkinson<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Let\u2019s start with a recent study you shared with me from the University of London. It showed that volume is not quality\u2014good education is hard to find, reputable education is hard to assess, and trustworthy education is often unregulated with overlapping initiatives. So, how has IBKR been doing its part to close these financial literacy gaps?&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gerry-perez-nbsp-0\"><strong>Gerry Perez<\/strong>&nbsp;<\/h3>\n\n\n\n<p>In the context of the UK, Interactive Brokers considers itself not just an innovative brokerage house\u2014we are also educators. We\u2019ve helped bridge the gap between classroom learning and real-world investing for over a decade. We take great pleasure in guiding future talent. For example, we\u2019ve collaborated with several universities to unravel complex financial concepts and provide content from the lens of a regulated practitioner. We support students, schools, and others with easy-to-understand information, tools, and in-person speaking opportunities to empower them to confidently navigate the vast world of financial markets. Through in-house initiatives like Traders\u2019 Academy, IBKR Campus, our Student Trading Lab, AI tools, and our new free micro-learning app, IBKR InvestMentor, we aim to ignite understanding, reduce inequalities, and give people the knowledge to better manage their financial independence.\u00a0<\/p>\n\n\n\n<p>It\u2019s all about empowering individuals to make informed decisions for themselves, their families, their future, and their communities. As a representative of IBKR, being part of those journeys\u2014whether standing before students answering questions, speaking to seniors over a cup of tea, or supporting course development through our Student Trading Lab\u2014is an immense privilege.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-nbsp-1\"><strong>Andrew Wilkinson<\/strong>&nbsp;<\/h3>\n\n\n\n<p>I want to pick up on the IBKR Student Trading Lab. You say it\u2019s being used by schools for hands-on trading simulations. We created a course on Traders\u2019 Academy for this and interviewed people at several universities worldwide, including in London. It\u2019s well worth a look. Can you share some of your experiences with the Student Trading Lab and how it\u2019s been adopted?&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gerry-perez-nbsp-1\"><strong>Gerry Perez<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Sure. One of my favorite experiences with the Student Trading Lab was our outreach to Queen Mary University here in the UK. Think of our Student Trading Lab as a flight simulator for the financial markets. Suddenly, theory isn\u2019t just something from a textbook\u2014it becomes a hands-on adventure. We collaborated with the university and kicked off presentations to students by unlocking the world of investing in simple terms and practical examples. We then unveiled the IBKR Student Trading platform, giving them paper accounts to use for real-time investment simulations. What started as a tool for finance students soon grew wings into different departments. The IBKR Student Trading Lab crossed over into IT and mathematics curriculums, where students began to see how trading platforms work and how math underpins every investment decision.&nbsp;<\/p>\n\n\n\n<p>The Student Trading Lab became more than just a platform\u2014it became a spark, igniting curiosity and turning abstract ideas into real-world experiences. It set students up to approach financial markets and their everyday personal financial needs with confidence and skills. It\u2019s been rewarding to see those same students reach out years later, thanking us for their early exposure to investing. Some made careers in financial markets, while others simply manage their personal finances better. Watching curiosity turn into competence makes everything worth it. That\u2019s how we help the next generation not only understand the markets but thrive in them.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-nbsp-2\"><strong>Andrew Wilkinson<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Very impressive, Gerry. Talk to me about micro-learning. You mentioned the InvestMentor app. How has this micro-learning app resonated with users?\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gerry-perez-nbsp-2\"><strong>Gerry Perez<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Interactive Brokers is all about continuous improvement. The IBKR InvestMentor app has resonated with users by turning financial learning into something as accessible as getting a morning cup of coffee. It\u2019s easy, inviting, and available around the clock. No marathon lessons\u2014just bite-sized lessons and quizzes that stick. For those who may lack confidence in managing their money, and for the younger generation, it feels like having a financial coach on your phone, guiding you through lessons in text and video form. There are news and economic explainers, modules about foreign exchange and futures, and Q&amp;A sessions hosted by IBKR speakers.\u00a0<\/p>\n\n\n\n<p>You learn at your own pace, and complex economic and financial concepts turn into lightbulb moments. For the senior generation, the app is like an open door back into the classroom\u2014offering a refreshing, jargon-free way to stay sharp and take control of financial decisions without barriers or intimidation.&nbsp;<\/p>\n\n\n\n<p>\u00a0It\u2019s all about micro-dosing knowledge\u2014manageable lessons that fit any skill set. InvestMentor\u2019s practical, bite-sized approach bridges generations, giving both new and senior learners the confidence to engage with the market and protect themselves from scams. The more knowledge you have, the greater the barriers you put around yourself to prevent others from taking advantage. Think of the InvestMentor app as a way to improve financial literacy and make better, more secure decisions throughout life\u2019s journey.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-nbsp-3\"><strong>Andrew Wilkinson<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Gerry, recently Interactive Brokers launched Ask IBKR, an AI tool for natural language portfolio analysis questions. How does that help investors? How is it used?&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gerry-perez-nbsp-3\"><strong>Gerry Perez<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Ask IBKR is a conversational artificial intelligence tool. Imagine your portfolio as an ocean\u2014you have to navigate through all types of weather conditions to reach your destination. Ask IBKR is like giving every investor at IBKR their own financial navigator. You simply ask a plain, simple question, and it instantly maps out your portfolio journey with clear insights and visuals. For beginners, it removes the fog from your portfolio, allowing you to ask, <em>\u201cHow is my portfolio doing compared to world indices?\u201d<\/em> and understand your position at a glance. For experienced traders, it\u2019s like having an automated co-navigator who can break down sector exposures and track performance in seconds\u2014saving time and effort that would otherwise be spent navigating dashboards and reports.&nbsp;<\/p>\n\n\n\n<p>Or imagine a user who wants to invest in AI technology stocks and needs prompt answers. Instead of clicking through endless menus, just ask a question. All you have to do is prompt Ask IBKR, and it delivers an instant visual answer that empowers everyone\u2014regardless of age or expertise\u2014to spend less time searching for answers and more time making smarter investment decisions. It truly makes investing more effective for all.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-nbsp-4\"><strong>Andrew Wilkinson<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Very cool. So, finishing up, Gerry\u2014whether it\u2019s young listeners tuning in, young professionals, or seniors\u2014what\u2019s your top recommendation for helping someone advance their financial literacy?&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gerry-perez-nbsp-4\"><strong>Gerry Perez<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Good question. In my opinion, financial literacy is the compass for your financial journey\u2014whether you\u2019re just starting out navigating your first job or charting your course through retirement. Knowing how to read the map makes all the difference. Recently, as you mentioned, the UK government announced that financial literacy will become mandatory in all schools starting September 2028. This is a landmark step, opening the door for every child to learn how to understand, manage, and grow their money from the ground up. Learning shouldn\u2019t just happen in the classroom. Parents and guardians are the first captains\u2014starting conversations early sets a strong foundation for children as young as seven to make wise choices, ask questions, and feel ready for the challenges ahead.&nbsp;<\/p>\n\n\n\n<p>&nbsp;For seniors, financial literacy is the anchor in retirement\u2014helping you navigate changing tides, protect your savings, and maintain independence. There\u2019s no terminal date on learning; financial education is a perpetual journey that can begin at any time and rewards everyone. Financial literacy for all isn\u2019t a single destination\u2014it\u2019s an ongoing journey. At IBKR, we believe in sharing knowledge freely and openly, with the hope of turning uncertainty into confidence, curiosity into security, and possibly into financial independence. Financial education is deeply important to us, and we continue to take an active role in helping you bridge the gap. So visit us at <strong>interactivebrokers.co.uk<\/strong> and let us help you.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-nbsp-5\"><strong>Andrew Wilkinson<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Brilliant. Thanks for joining me, Gerry Perez, CEO at Interactive Brokers UK in London.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gerry-perez-nbsp-5\"><strong>Gerry Perez<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Thank you.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-nbsp-6\"><strong>Andrew Wilkinson<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Asnd thanks to our audience for joining us today. Don\u2019t forget\u2014if you enjoyed today\u2019s episode, please consider subscribing wherever you download your podcasts. Bye for now.&nbsp;<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this episode, Gerry Perez, CEO of IBKR UK, joins us to dive deep into the hidden price of financial illiteracy and why it matters for everyone, from students to seasoned investors. 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