When it comes to helping cultivate a new generation of independent investment advisors, TD Ameritrade Institutional 1 is raising the bar by introducing a new grant for colleges and universities committed to educating future financial-planning professionals.
Through its Next Generation Financial Planning Scholarship and Grant Program, TD Ameritrade Institutional will give $25,000 to a college or university with a nascent financial-planning degree program. Last year, when the program was introduced, TD Ameritrade Institutional announced 10 scholarships of $5,000 each for students pursuing a bachelor’s degree in financial planning and a $50,000 grant for an established degree program.
The scholarships and grants are intended to help increase the number of college students graduating with a financial planning degree and who will pursue a career as a personal financial advisor. Over the next decade, TD Ameritrade Institutional is committed to investing more than $1.25 million to encourage more students to pursue financial planning careers and help fill the ranks of registered independent advisors (RIAs), an industry expected to face a shortage of talent with a wave of baby boomers set to retire.
Schools seeking a grant must be accredited, non-profit U.S. colleges or universities offering an undergraduate degree in financial planning. The application deadline for both grants is June 2, 2014 and the winners will be named on September 8, 2014. Students’ applications for the scholarships also are due by June 2; winners will be selected August 4, 2014.For more information, applicants can visit the TD Ameritrade Institutional NextGen Scholarship & Grant website, http://www.tdainstitutional.com/lp/nextgen-scholarship.page. “Last year, we encountered schools with financial planning degree programs that were promising and innovative, but still in their infancy. So, in addition to recognizing schools with exceptional programs, we want to support institutions that are just starting out,” said Tom Nally, president, TD Ameritrade Institutional. “This scholarship and grant program can help increase colleges’ capacity to develop a new generation of advisors and sustain the industry’s growth into the future.”