In an effort to promote careers in financial planning and attract top talent to the advisor industry, TD Ameritrade Institutional1 announces a series of initiatives to support the next generation of financial advisors. The TD Ameritrade Institutional NextGen Scholarship program and Financial Planning Education Grant will provide funding to increase student enrollment in financial planning programs and encourage universities to innovate in the area of financial planning curriculum. Over the next decade, the financial planning industry is expected to grow by 32 percent, nearly twice the average growth rate of all other occupations (14 percent) 2. Strong demand for advisory services, coupled with the fact that less than six percent of existing advisors are under the age of 30, points to a worsening talent shortage 3. “Advisors tell us recruiting is a top business challenge. They are concerned about succession planning and want to leave their clients in capable hands once they decide to retire or exit the business,” said Tom Nally, president, TD Ameritrade Institutional. “TD Ameritrade Institutional is committed to raising the profile of financial planning as a worthwhile career. Programs to recruit and develop younger talent can help mid-sized registered investment advisor (“RIA”) firms close the gap with their larger counterparts and position the RIA channel as a destination for new advisors, a market position previously held by wirehouses.” In 2013, TD Ameritrade Institutional will provide individual scholarships valued at $5,000 each to 10 deserving and talented students enrolled in undergraduate financial planning programs. A $50,000 grant will be provided to a university which best demonstrates a commitment to educating the industry’s future financial professionals. “We believe competition for this grant among higher education institutions will encourage innovation and support greater investment in financial planning curriculum,” added Nally. Applications will be accepted starting April 1, 2013.
- Scholarship applications are due May 15, 2013 and will be awarded Aug. 1, 2013.
- Grant applications are due June 1, 2013 and will be awarded Sept. 1, 2013.
For more information about the NextGen Scholarship and Grant program, please email ScholarshipsatTDA@tdameritrade.com.For more information about TD Ameritrade Institutional, please visit www.tdainstitutional.com. For updates and news, visit www.TDA4advisors.com, follow us on Twitter @TDA4Advisors and connect on LinkedIn. TD Ameritrade is separate from and not affiliated with the educational institutions mentioned above. About TD Ameritrade InstitutionalTD Ameritrade Institutional 1 is a leading provider of comprehensive brokerage and custody services to more than 4,500 fee-based, independent registered investment advisors and their clients. Our advanced technology platform, coupled with personal support from our dedicated service teams, allows investment advisors to run their practices more efficiently and effectively while optimizing time with clients. About TD Ameritrade Holding CorporationMillions of investors and independent registered investment advisors (RIAs) have turned to TD Ameritrade’s (NYSE: AMTD) technology, people and education to help make investing and trading easier to understand and do. Online or over the phone. In a branch or with an independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how - bringing Wall Street to Main Street for more than 36 years. TD Ameritrade has time and again been recognized as a leader in investment services. Please visit TD Ameritrade’s newsroom or www.amtd.com for more information. Brokerage services provided by TD Ameritrade, Inc., member FINRA ( www.FINRA.org) /SIPC ( www.SIPC.org) /NFA ( www.nfa.futures.org) 1TD Ameritrade Institutional is a division of TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation. 2Bureau of Labor Statistics, “Employment Projections to 2020”, Monthly Labor Review, January 2012 3Cerulli Quantitative Update, Advisor Metrics 2010 AMTD-G