The Institute of Mechanical Engineers introduces financial advice service

The Institution of Mechanical Engineers has introduced a financial advice service for its 150 staff and 90,000 members.

The service, launched last month in conjunction with AWD Chase de Vere, will include seminars and discussion groups, addressing topics such as retirement planning and savings and investments. There are also plans to offer participants question-and-answer sessions with financial specialists and advisers.

Alastair Barr, commercial development manager at the Institution of Mechanical Engineers, said the financial education service was chosen to meet the needs the organisation’s diverse members, who work in a number of areas, including aerospace, railway, medical and construction.

He explained: “We have a fairly large number of members who are in the 55-plus [age] bracket who would benefit from a [financial education] seminar, as it might cover retirement planning and pensions. There will also be the usual things about savings and investments, which could be relevant for a wider age scale as well.

“Finance is a wide ranging subject that will appeal to many different members regardless what job they might be doing and regardless of what status they have. Anybody who is working on a technical job to somebody that is working as a managing director of a big engineering company will still have some need for financial services.”

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Information about the service has been posted on the organisation’s website and included in an internal newsletter, as well as emailed to members and staff.

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