The PFS is calling for members to get involved by volunteering to take part in the project and teach students essential skills to handle their finances.
Volunteers will participate in a one-day training and development course, before being partnered with local schools.
The PFS says recent research found that 800,000 school leavers believe an Isa is an Ipod accessory.
PFS chartered financial planner and president Paul Lothian says: “It is essential that we are able to give our next generation the understanding, skills and confidence to make everyday financial decisions. As a profession, financial advisers are perfectly placed to help.
“The PFS has a rich seam of highly experienced and talented professionals that are keen to engage and inspire young people by making finance interesting and relevant to their lives.”
Pfeg chief executive Wendy van den Hende says: “We are delighted to have the backing of the Personal Finance Society. With 90 per cent of teenagers worrying about money on a daily basis, improving their financial capability will give them the fundamental skills and knowledge in financial matters to participate fully in society.”