Offering a pathway for students from historically Black colleges and universities to learn about the financial services profession and get a head start in their careers
KING OF PRUSSIA, PA – August 5, 2020 – The American College of Financial Services announced yesterday at the virtual Conference of African American Financial Professionals (CAAFP) it will be awarding 15 scholarships dedicated to historically Black college and university students to help increase diversity and representation in the financial services profession.
One of the biggest problems facing the financial services profession is a profound lack of diversity. Around 13% of the U.S. population is African American, yet among financial services practitioners, just under eight percent are of African ancestry. The College believes the financial services profession must make a concerted effort to recruit, educate, place, and support thousands more Black financial advisors.
Industry ‘Must Catch Up’
“The financial services industry must catch up so our profession looks more like the nation it serves. In order to help close this racial gap, The College has committed to awarding at least 25 African American scholarships with 15 dedicated to students from historically Black colleges and universities,” said George Nichols III, President and CEO of The American College of Financial Services. “HBCUs have played a key role in the fight for racial equality and are stewards of Black intellectual thought leaders and professionals.”
The College’s HBCU Student Scholarship Program offers students from historically Black colleges and universities the ability to learn about the financial services profession and offers a head start in their careers. Students who have completed their sophomore year, and are enrolled and in good academic standing at any four-year, Bachelor’s degree-granting HBCU are eligible to apply for an HBCU Scholarship. Full tuition scholarships are available for the Retirement Income Certified Professional® (RICP®) designation, the Chartered Financial Consultant® (ChFC® designation, and the CERTIFIED FINANCIAL PLANNER™ (CFP®) education program.
“One of the ways The College can increase diversity in the financial services profession is to start by inspiring the next generations of professionals,” said Deborah Eskridge Glenn, MA, MSM, SPHR, SHRM-SCP, Vice President of Administration and Chief Human Resources Officer at The American College of Financial Services. “This kind of engagement starts at the undergraduate level when students are still considering their career options. Partnering with HBCUs can help us reach the next generation of Black leaders.”
For more information on The College’s HBCU Student Scholarship Program and the African American Advisor Scholarship Program, created for financial services professionals, and to submit a scholarship application, visit our website.
ABOUT The American College Of Financial Services
The American College of Financial Services was founded in 1927 and is the nation’s largest nonprofit educational institution devoted to financial services. Holding the highest level of academic accreditation, The College has educated one in five financial advisors across the United States and offers two master’s degrees in management and financial services, along with prestigious financial planning designations such as the Retirement Income Certified Professional® (RICP®), Chartered Life Underwriter® (CLU®), Wealth Management Certified Professional® (WMCP®), Chartered Advisor in Philanthropy® (CAP®), Chartered Special Needs Consultant® (ChSNC®), Chartered Financial Consultant® (ChFC®), and education leading to the Certified Financial Planner™ (CFP®) certification. The College’s faculty represents some of the foremost thought leaders in the financial services profession. Visit TheAmericanCollege.edu and connect with us on LinkedIn, Facebook and Twitter.