JERSEY CITY, N.J., July 23, 2015 /PRNewswire/ -- Being a
professional financial planner requires more than just being good
with numbers. Today's advisors must develop skills that can help
them build personal ties with clients, understand their needs and
create a strategy to help families pursue their goals.
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Eager to produce "job ready" graduates, many universities and
colleges are teaching the real world skills young advisors need in
the workplace. And to help more schools take their programs to the
next level, TD Ameritrade Institutional1 has awarded its
third annual Next Gen Financial Planning Grants: a $50,000 grant to the University of North Texas in Denton, Texas, to expand an existing financial
planning degree program, and $25,000
to Temple University in
Philadelphia to foster development
of a new program.
TD Ameritrade Institutional wants to help the registered
investment advisor ("RIA") industry remain vibrant for years to
come by encouraging more colleges and universities to expand and
enhance their financial planning degree programs, increasing the
number of graduates produced each year. According to U.S.
Department of Education data, roughly 700 students completed
bachelor's degrees in financial planning in 2013, while just
90 U.S. schools offered degrees dedicated to financial
planning.2
And as part of a broader effort to encourage more undergraduates
to pursue financial planning careers -- and avert a talent shortage
when thousands of baby boomer-era advisors leave the business -- TD
Ameritrade Institutional is awarding its third annual Next Gen
Financial Planning Scholarships to 14 deserving students.
"Independent financial planning is one the fastest-growing areas
of the financial services business3 and may offer some
of the brightest career prospects in the marketplace, but advisors
need more than financial expertise -- they need a strong desire to
help people and a talent for building strong ties with clients,"
said Tom Nally, president, TD
Ameritrade Institutional. "Schools like University of North Texas and Temple are helping
educate and train a new generation of advisors so they can enter
the workplace well-prepared for solving real world challenges."
University of North Texas, for
example, says students that complete its program are qualified to
register for the CERTIFIED FINANCIAL PLANNER™
comprehensive examination. UNT will use its grant money to fund
internships at its Student Money Management Center, which provides
individual financial consultations and planning services free of
charge to all UNT students. Interns will work side by side with
counselors to get hands on experience in how students, staff, and
alumni manage their financial lives.
Temple University, meanwhile, will
launch the school's first-ever financial planning program this
fall. Grant funds will help fund scholarships to attract top-tier
students, underwrite a weekly "seminar series" that brings the
workplace to campus, engaging financial planning practitioners in
the Philadelphia area to speak
with students providing insights into the profession's challenges,
trends and potential opportunities.
Students: You Do the Math
For undergrads looking for career with long-term growth
prospects, the personal financial planning may have a lot to offer.
Demand for financial advice is strong and expected to grow even
stronger over the next 20 years4, at the same time
industry research forecasts a shortage of young people entering the
business to fill the shoes of advisors getting ready to retire.
Registered investment advisors on average are 55 years old,
while about a third are near
or at retirement age. On the other end of the age spectrum, just 6
percent of advisors are under the age of 30, according to Cerulli
Associates research.3
The U.S. Department of Labor forecasts a 32 percent increase in
personal financial advisor jobs by 2020, more than double the rate
for all other occupations,4 driven by
rising demand as millions of baby boomers reach retirement age and
seek professional financial advice.
With solid job prospects and "an above average work-life
balance" U.S. News & World Report recently ranked financial
advisor No. 5 among the best business jobs and the 25th
best career overall.5
And contrary to all the hype, the emergence of technology-based
"roboadvisors" may not be likely to derail career prospects in the
financial advice industry. Indeed 85 percent of people wish they
had more human interaction, not less, when dealing with companies,
institutions and organizations, according to a recent TD Ameritrade
survey of investors.6 Moreover, just 30 percent believe
advanced technology alone could fully replace the role of humans in
helping them achieve financial goals.
Scholarship Winners
This year, 14 talented and deserving undergraduate students each
received $5,000 scholarships to help
them pursue a bachelor's degree in financial planning, including
three awards going to students from demographic groups that are
under-represented in the industry. This year's winners are:
Tom
Annin
|
Rodger
Isom
|
Jack
O'Donnell
|
Christian
Vardaman
|
Virginia
Polytechnic
|
Virginia
Polytechnic
|
Virginia
Polytechnic
|
Louisiana
State
|
Institute
|
Institute
|
Institute
|
University
|
|
|
|
|
Haley
Burgin
|
Junghyun
Lee
|
Anthony
Radice
|
Thomas
Weaver
|
Western
Kentucky
|
Utah Valley
University
|
William
Paterson
|
Virginia
Polytechnic
|
University
|
|
University
|
Institute
|
|
Madison
Nixon
|
|
|
Nicole
Dunn
|
Louisiana
State
|
Rachel
Rogers
|
Daniel
Wendt
|
Texas Tech
University
|
University
|
Butler
University
|
Louisiana
State
|
|
|
|
University
|
Shelby
Huber
|
|
Martha
Tullis
|
|
Texas Tech
University
|
|
Utah Valley
University
|
|
To celebrate their achievement, and put a face on the future of
financial planning, this year's Next Gen Scholarship and Grant
winners were invited to New York
City as guests of TD Ameritrade Institutional for a VIP
visit to Wall Street. The group walked the floor of the New York
Stock Exchange and rang the closing bell to help raise awareness of
the career opportunities in financial planning. Participants in the
event shared their experiences via Twitter using the hashtag
#RIANextGen.
Through grants, scholarships and other student programs, TD
Ameritrade Institutional has committed to investing more than
$2 million over a decade to support
the professional development of next gen talent for the industry.
And to help graduates land that first job, TD Ameritrade
Institutional launched the RIA Intern Network, an online community
of more than 600 advisory firms can connect with aspiring planners,
as well as RIA NextGen Career Exchange, the only free career site
focused on the RIA industry.
For more information about the TD Ameritrade Institutional
NextGen Scholarships and Grant Program, please visit
http://www.tdainstitutional.com/lp/nextgen-scholarship.page.
About TD Ameritrade Institutional
TD
Ameritrade Institutional is a leading provider of comprehensive
brokerage and custody services to over 4,500 fee-based, independent
registered investment advisors and their clients. Our advanced
technology platform, coupled with personal support from our
dedicated service teams, allows investment advisors to run their
practices more efficiently and effectively while optimizing time
with clients. TD Ameritrade Institutional is a division of TD
Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding
Corporation.
About TD Ameritrade Holding Corporation
Millions of investors and independent registered investment
advisors turn to TD Ameritrade's (NYSE: AMTD) technology, people
and education to make investing and
trading easier to understand and do. Online or over the phone, in a
branch or with an independent RIA, first-timer or sophisticated
trader, our clients want to take control and we help them decide
how: We've been bringing Wall Street to Main Street for 40
years. An official
sponsor of the 2016 U.S. Olympic Team, TD Ameritrade
has time and again been recognized as a
leader in investment services. Please visit TD Ameritrade's
newsroom or www.amtd.com for more information.
Brokerage services provided by TD Ameritrade, Inc., member FINRA
(www.FINRA.org) / SIPC (www.SIPC.org)
CFP and CERTIFIED FINANCIAL PLANNER are certification marks
owned by the Certified Financial Planner Board of Standards,
Inc.
1 TD Ameritrade Institutional is a division of TD
Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding
Corporation
2 National IPEDS database, U.S. Department of
Education's National Center for Education Statistics, 2013
Financial Planning and Services Program
completions.
3 Cerulli Associates, the
Cerulli Report, Advisor Metrics 2014: Capitalizing on
Transitions and Consolidation
4 Bureau of Labor Statistics, U.S. Department of Labor,
2014-15 Occupational Outlook Handbook,
http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm
5 U.S. News and World Report, "The 100 Best
Jobs,"
http://money.usnews.com/careers/best-jobs/rankings/the-100-best-jobs?page=3
6 TD Ameritrade investor survey, "Technology Progress
and the Retail Investor,"
April 2015
Contact:
Kristin
Petrick
Director, Communications
TD Ameritrade
402.574.6569 (o)
402.578.8182 (m)
Kristin.petrick@tdameritrade.com
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SOURCE TD Ameritrade Holding Corporation