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Future Financial Planners Take Manhattan, Ring the Nasdaq Closing Bell to Promote RIA Career TrackThey say if you can make it here, you can make it anywhere, which is why TD Ameritrade Institutional1 gathered financial planning undergraduates and university educators for a grand tour of New York, New York, culminating with the ringing of the Nasdaq closing market bell. To encourage more students to pursue financial planning careers, TD Ameritrade awarded its fourth annual NextGen Financial Planning Scholarships to 12 students pursuing bachelor degrees in financial planning. Each student receives $5,000 in scholarships, including two awards for students from under-represented demographic groups, to help increase racial, ethnic and gender diversity in the RIA industry. Also, a total of $75,000 of grants were awarded to two universities to foster financial planning education, the latest effort to encourage more schools to develop programs to educate future RIAs. To celebrate their achievement, and help put a face on the future of financial planning, TD Ameritrade Institutional invited this year's Scholarship and Grant winners for a tour of New York's financial district and a visit to the Nasdaq Market Center, where winners will help ring the closing bell on July 20. The New York event is part of a larger effort at TD Ameritrade to get more students and universities excited about the financial planning profession and to build a pipeline of future registered investment advisors ("'RIAs") prepared to sustain the industry for decades to come. "The RIA industry has seen steady growth over the past 30 years2 serving boomers, but now we need to attract young clients and new talent to mirror the changing makeup of the U.S. market," said Tom Nally, president, TD Ameritrade Institutional. "With these scholarships and grants, we hope to put more students on a financial planning career path and help RIAs get ready to serve the next generation of investors." The 2016 Scholarship and Grant Winners are:
Grant Winners TD Ameritrade Institutional also encourages more colleges and universities to expand or enhance their financial planning degree programs, increasing the capacity of U.S. schools to educate and train more young professionals to join the RIA industry. This year, University of Houston received a $50,000 grant for an established program while Delaware State University received a $25,000 emerging program grant to help launch their program. The RIA industry is facing a shortage of advisors, largely because the demand for fiduciary advice is growing: millions of baby boomers are getting set to retire, while younger investors in their prime earning years are building and inheriting trillions in wealth. At the same time, there aren't enough young people entering the profession to replace the older advisors who dominate the ranks of the RIA business and are themselves reaching retirement age.2 As a result, jobs for personal financial advisors are expected to grow by 30 percent by 2024, more than four times the 7 percent growth rate for all occupations, according to the Bureau of Labor Statistics.3 Scholarships and grants are among many programs within TD Ameritrade Institutional's broader NextGen (News - Alert) Initiative, intended to help fill the RIA industry's pipeline with diverse and talented individuals willing to lead the RIA industry in the future and who will continue the important work of caring for investors and their families. For more information about TD Ameritrade Institutional, visit www.tdainstitutional.com. Learn more about NextGen Scholarships & Grants by clicking here or emailing [email protected].
About TD Ameritrade Institutional
About TD Ameritrade Holding Corporation 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 Corporation Source (News - Alert): TD Ameritrade Holding Corporation View source version on businesswire.com: http://www.businesswire.com/news/home/20160720005064/en/ |