Charles Schwab and Texas Tech University celebrated the opening last week of the newly renovated Charles Schwab Personal Financial Planning Technology Complex1 at a ribbon cutting event attended by university faculty, students and financial professionals currently studying at Texas Tech for CE credits. Over the past several years, Schwab has contributed millions of dollars in support to universities and has developed programs to help mentor, train and provide hands-on learning experiences for future financial services professionals.
Schwab's Bernie Clark addresses the crowd at ribbon cutting event at Texas Tech. (Photo: Business Wire)
The Charles Schwab Personal Financial Planning Technology Complex at Texas Tech, originally constructed in 2009, is used today by more than 300 undergraduate and graduate students in the University’s Personal Financial Planning Department. It is an approximately 4,500 square foot facility that now includes two state-of-the art classrooms, a 16-unit technology lab, a high-tech conference room, and a recording room to produce high-quality distance education modules. “Attracting young people to the RIA space is critical to the channel’s success going forward,” said Bernie Clark, head of Schwab Advisor Services. “We are honored to be working with Texas Tech and other universities to provide support for young people entering the business so that they can be strong champions for the independent advice model in the decades to come.” In early February, Schwab conducted a study with students at Texas Tech to gain their perspective on the financial services industry. Schwab Study Findings: Attracting and Retaining the Next Generation Today’s developing financial advisors are gravitating to a career where they can interact daily with people and have a role in relationship management (69%), as well as do work that matters and help others achieve their goals (63%), according to a recent survey conducted by Schwab Advisor Services among more than 100 students studying Personal Financial Planning at Texas Tech University.