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New FARE scholarship launched for diverse CFP® students

Nearly 90% of Black college students considering a financial services career report they believe there are challenges that specifically affect Black advisors and financial professionals in the industry today, according to research conducted by the Nationwide Retirement Institute®.  

The Financial Alliance for Racial Equity (FARE) is dedicated to removing barriers that prevent diverse students and financial professionals from either entering the industry or advancing in their careers. One way FARE hopes to initiate change is with a newly founded scholarship created to ease the financial burden diverse students and professionals experience when seeking additional certifications.

The CFP Board Center for Planning and FARE launched the Financial Alliance for Racial Equity CFP® Certification Diversity Scholarship to financially assist the next generation of diverse financial planners. The scholarship will award $5,000 - $7,000 to students and professionals seeking to complete a certificate or undergraduate-level CFP Board Registered Program.

“Fostering diversity and building the talent pipeline are more than just core priorities for FARE. These efforts are critical to the future of the financial services industry and key steps in beginning to address the wealth gap in our country,” said Kristi Rodriguez, Senior Vice President of the Nationwide Retirement Institute. “These scholarships are one way we’re breaking down barriers to help the next generation of talent achieve their goals as future CFP® professionals.”

The scholarship is funded by Advisor GroupFranklin TempletonHuntingtonM Financial, NFP and Nationwide. For more information on the scholarship or to submit an application, click here

FARE recently hosted an educational and recruitment event to connect students and alumni from historically Black colleges and universities (HBCUs) with leading financial service organizations. Watch the featured panel discussion for advice financial executives and young professionals shared.