Applications Accepted Now Through May 31,
2017
TD Ameritrade Institutional,1 a custodian providing brokerage
and custody services to more than 5,000 independent registered
investment advisors (“RIAs”), is pleased to announce its fifth
annual NextGen Financial Planning Scholarship & Grant Program,
part of a broader $5 million commitment to help expand the numbers
of young people joining the RIA industry.
Undergraduate students interested in pursuing a career in
personal financial planning can, now through May 31, 2017, apply
for a $5,000 scholarship. Additionally, colleges and universities
interested in expanding or launching a financial planning degree
program can apply for a $50,000 or $25,000 grant.
TD Ameritrade Institutional wants to help the RIA industry
attract a new generation of young talent and foster greater
diversity by raising awareness among more students of the career
opportunities as an RIA. The program also seeks to increase the
capacity of U.S. college campuses to train future advisors and
alleviate a looming shortage of advisors as a wave of baby boomers
gets set to retire.
"Advisors tell us that hiring young talent is one of the top
three ways they'll grow their firms and attract the next generation
of investors,”2 said Kate Healy, TD Ameritrade Institutional's
managing director of advisor marketing and sustainability. "We want
to help by making more students aware of the career opportunities
and strengthening financial planning education at schools across
the country.”
The Bureau of Labor Statistics forecasts3 30 percent growth in
financial planner jobs by 2024, well above average for all
occupations, fueled by the coming wave of baby boomer retirements
and the transfer of trillions of dollars to younger generations. On
the other end of the wealth spectrum, many Americans are not
sufficiently educated when it comes to personal finance, according
to Money Management International, a nonprofit credit counseling
agency that declares April “National Financial Literacy
Month.”4
Scholarship & Grant Applications Accepted April 3 - May
31
TD Ameritrade Institutional will award 12 scholarships of $5,000
each to undergraduates pursuing financial planning degrees. At
least two of these scholarships will recognize scholars from
demographic groups under-represented in the ranks of RIA –
including women, blacks, Hispanics and Asians – to help the
industry attract a more diverse pool of talent.
Scholarship applicants should be freshmen, sophomores or juniors
at an accredited four-year college or university with a
satisfactory academic standing and pursuing a bachelor's in
financial planning. Members of under-represented demographic groups
may apply for a Diversity Scholarship. Scholarship and grant
applications will be accepted April 3 through May 31. TD Ameritrade
Institutional has awarded 46 scholarships since launching the
program in 2013.
TD Ameritrade Institutional also provides two university grants
– $50,000 for an established program and $25,000 for an emerging
program. The goal is to increase the capacity of U.S. schools to
produce graduates with financial planning degrees and elevate the
quality of those programs so that more young advisors can meet the
real-world needs of RIA firms.
TD Ameritrade Institutional offers other programs to help new
advisors get started and build a career. RIA NextGen Career
Exchange is a free resource connecting students with RIAs for
internship and job opportunities, while the RIA Intern Network
helps advisors implement more effective internship programs to
foster the professional development of young advisors. More than
1,100 advisors and 600 students and young professionals have
engaged in the RIA Intern Network since its 2014 launch.
“We as an industry – advisors, custodians and others – must do
more to support financial planning education and help raise
awareness of this profession,” said Healy. “The sustainability of
this industry depends on attracting and retaining more young people
dedicated to helping Americans plan for and invest in a better
financial future.”
Grants Fuel Growth in Financial Planning Education
TD Ameritrade Institutional’s past grant awards – seven in all –
are putting their funds to good use. In addition to expanding
course offerings, recipients have introduced innovative programs
and approaches to help ensure their graduates are better prepared
for the workplace.
The $50,000 grant winner of 2015, University of North Texas,
established a paid internship program for financial planning
students, who developed and now teach a financial literacy course
to high school students. University of Georgia, the 2014 winner,
established a financial planning lab with an interactive 80-inch
screen for client presentation training and is developing an
advisor-in-residence program.
Temple University, the $25,000 grant winner in 2015, launched
financial planning major, established an outside speaker series and
is opening a Financial Planning Association (FPA) chapter on
campus. Texas A&M University used its 2014 grant to offer an
online learning program to help students prepare for the CERTIFIED
FINANCIAL PLANNERTM exam as well as support a diversity scholarship
and related events.
In an effort to help more schools secure additional funding
support, TD Ameritrade Institutional on Thursday, April 6, will
host a webcast for university and college program directors with
tips on how they can enhance proposal writing skills that can help
secure grants.
To Learn More and Apply Online
Visit the TD Ameritrade Institutional NextGen Scholarship &
Grant home page to learn more about the program and submit an
online application.
About TD Ameritrade InstitutionalTD Ameritrade
Institutional is a leading provider of comprehensive brokerage and
custody services to more than 5,000 fee-based, independent RIAs 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 CorporationMillions of
investors and independent registered investment advisors turn to TD
Ameritrade’s (NASDAQ: AMTD) technology, people and education
resources to help make investing and trading easier. 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 - bringing Wall Street to Main Street for more than
40 years. TD Ameritrade has time and again been recognized as a
leader in investment services. Visit our newsroom or amtd.com for
more information.
Brokerage services provided by TD Ameritrade, Inc., member FINRA
/ SIPC
1 TD Ameritrade Institutional is a division of TD Ameritrade,
Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation2
TD Ameritrade Institutional, 2017 RIA Sentiment Survey, January
20173 Department of Labor, Bureau of Labor Statistics, Occupational
Outlook Handbook, 2016-17,
http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm4
Financial Literacy Month, Money Management International,
www.financialliteracymonth.com/About
Source: TD Ameritrade Holding Corporation
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170404005107/en/
TD Ameritrade Holding CorporationJoseph Giannone,
201-369-8705Communications & Public
AffairsJoseph.Giannone@tdameritrade.com
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