Growing pains: Financial planners hit roadblock in Southeast Asia

April 20, 2015 8:21 AM

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By Miral Fahmy SINGAPORE, April 20 (Reuters) - Insurers and financial planners in Southeast Asia should gear up for the long haul. A poor grasp of basic concepts such as inflation, a deluge of information and uncertain economic prospects are hurting the ability of individuals to plan ahead.

Basic financial knowledge and skills across Southeast Asia - and the wider Asia-Pacific - fell in 2014, according to the MasterCard Financial Literacy Index published last week. The survey of more than 8,000 people last year measured basic money management as well as knowledge of financial products.

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