TD Ameritrade Wants You To Be A Financial Planner

By Joey Figueroa on May 23, 2014

[Photo Credit: Marketplace]

In order to properly prepare the next generation of financial planners, TD Ameritrade Institutional has dedicated more of its resources to scholarships and grants for students pursuing jobs in the financial field.

According to this press release, TD Ameritrade has established the Next Generation Financial Planning Scholarship and Grant Program which will reward $25,000 to a university or college that has a relatively new and rising financial-planning undergraduate degree program. This new grant will join TD Ameritrade’s pre-existing award program of ten $5,000 scholarships for students pursuing a bachelor’s degree in financial planning and a grant worth $50,000 for an already established financial planning undergraduate degree program.

With this new grant, TD Ameritrade has reinforced their focus on increasing the number of students who graduate with a degree in financial planning and helping those already in the field. Over the next decade, TD Ameritrade has over $1.25 million committed to scholarship and grant programs aiding students that could potentially revive the dying ranks of registered independent advisors (RIAs).

Industry research reports that the field of RIAs could see a large drop in talent over the next few years due to the significant amount of Baby-Boom-era advisors that will be retiring throughout the next decade. Research shows that less than eight percent of current RIAs are younger than 35, while almost half are over 55 years old and on the path to retirement. This data shows that there won’t be enough young financial planners to replace these retirees, while the demand for financial advice and expertise will only grow, making financial planning one of the fastest growing career fields with one of largest amounts of job vacancies.

With their large investment to university programs and students in the financial field, TD Ameritrade hopes to recruit the next generation of financial planning talent. Finding the necessary talent to fill the upcoming void will be crucial for the RIA industry, and TD Ameritrade Institutional’s grant and scholarship programs will put schools and students on the right path to a career choice in financial planning.

Any school seeking to obtain the Next Generation Financial Planning grant must be an accredited, non-profit college or university in the United States that offers an undergraduate degree in financial planning. The application deadline for each of the grants is June 2, 2014 and winners will be announced on September 8, 2014. For more information, visit TD Ameritrade’s website.

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