Celebrating ‘Scholars in Financial Planning’
November 30, 2021 | 4 min read
By Kristine Carl, Senior Manager, Communications
Earlier this year, Schwab announced the launch of the Charles Schwab Foundation Scholars in Financial Planning, which provides a total of $3.5 million in endowed scholarships at seven public universities, as well as financial assistance and career opportunities to college students from under-resourced communities.
Today Schwab is pleased to announce the inaugural scholarship recipients – students in financial planning programs at seven universities who have received one- and two-year scholarships of approximately $10,000 per year. These students exemplify a commitment to their academics and a drive to break down barriers and help people of all walks of life achieve financial freedom. As part of their scholarship award, recipients also receive mentorship, a FINRA Securities Industry Essentials (SIE) exam voucher, resume review and interview prep, and a guaranteed interview with the Schwab Intern Academy.
Meet the recipients
“People of color are underrepresented in financial planning just as they are in many other industries. It’s really easy to think a profession isn’t open to you when you don’t see people who look like you in it. As a financial planner, I hope people in the Black community will see me and think ‘If he can do that, I can, too.’”
“I want every client to trust that I’m doing the best job possible to help them achieve their financial goals. When they achieve their goals, I achieve mine. I also want to help schools build awareness about the power of financial literacy and the role financial planning can play in people’s lives. No matter how much money you have, help from a financial planner can make all the difference in your life. Even if you have all the money in the world, you could easily go broke if you don’t know how to manage it.”
“I see in my community that a lot of people aren’t paying attention to their personal finances. They need to learn these skills or at least be given the opportunities to learn them, and I can help.”
“I’ve always known that I want to have a business career and I want my work to make people’s lives better. Financial planning offers a perfect balance between the analytical side of business that I love and the opportunity to impact people’s lives in a meaningful way. I’ll help people improve their financial literacy and achieve their dreams.”
“Growing up, my parents always emphasized the importance of taking care of money but only up to a point – the lessons never went beyond saving. I know now that making good investments that grow your money plays a huge role in financial success. I wish I had learned more about this at a younger age, so I plan to teach these things to younger generations.”
“What I start, I put my all into, and I have always been about learning new things. In pursuing a financial planning degree, I aim to help people successfully manage their financial resources so they have more control over their own lives. I’m particularly interested in helping underrepresented communities.”
“As a student of color studying in the financial planning field, the lack of diversity within the classrooms can be demotivating and even isolating. By having more people of color in the classroom, I feel it would be a more comfortable and inviting environment. This goes for the financial planning industry as well. The more people of color we see, the more motivating it can be for younger generations to participate.”
The Charles Schwab Foundation Scholars in Financial Planning program is one of the Board-approved diversity and inclusion efforts announced by the Schwab Executive Council last year. This endowment complements other scholarship programs for underrepresented communities, funded through Charles Schwab Foundation, including:
A $500,000 contribution to fund scholarships at three Historically Black Colleges and Universities (HBCUs): Bethune-Cookman University, North Carolina Agriculture and Technical State University, and Prairie View A&M University.
The RIA Talent Advantage Scholarship Program through Schwab Advisor Services, which aims to raise awareness of the independent investment advisory profession and provides $10,000 scholarships to twelve students, reserving half for students from underrepresented groups.
More information about Schwab’s commitment to diversity is available on the firm’s Diversity & Inclusion website.
IndustryIntroducing the winners of the inaugural RIA Talent Advantage Student Scholarship
Schwab Advisor Services™ and Charles Schwab Foundation have created the RIA Talent Advantage Student Scholarship to help remove financial barriers, advocate for diversity, and open doors for future talent within the independent RIA industry. Meet the winners!
Culture, Community, IndustrySchwab ramps up its ongoing D&I efforts with multiple new programs in 2021
As a firm, Charles Schwab has been committed to fostering inclusion in financial services since its founding. In 2021, the firm is expanding its efforts significantly with four new programs.
IndustrySchwab establishes endowed scholarships to support students from underrepresented communities
Through the Charles Schwab Foundation, Schwab has endowed a $3.5 million scholarship program to provide financial assistance and career opportunities to students from underrepresented communities.