CFP Board Center for Financial Planning, The American College Announce New CFP® Exam Scholarship

The CFP Board Center for Financial Planning and The American College jointly announced a new scholarship today that will help grow and diversify the financial planner workforce.

The partnership was announced at the Conference of African American Financial Professionals in Washington, D.C. The CFP Board Center for Financial Planning will provide scholarships to take the CFP® exam to The American College scholarship awardees who have graduated from its CFP Board Registered Program.

“This joint scholarship provides an opportunity for African American graduates of The American College’s program to continue their journey to CFP® certification,” said CFP Board Center for Financial Planning Executive Director Marilyn Mohrman-Gillis. “We need to create more pathways into the profession for people of color not only because it can be a rewarding career, but so that all Americans have access to competent and ethical financial planning.”

The American College’s African American Scholarship Program offers full tuition scholarships for designation and degree programs. To be eligible, applicants must be Black or African American and cannot be eligible for educational reimbursement from an employer.

Todd M. Schoon, JD, CLU, ChFC, Interim President & CEO, at The American College of Financial Services said, “We are excited about this partnership with The CFP Board Center for Financial Planning.” The College’s African American Scholarship is part of its Double by 2027 initiative to double the number of African American financial advisors by 2027 from the current rate of approximately 8 percent, as reported by the Bureau of Labor Statistics.

Recipients of a scholarship from the African American Scholarship Program who successfully complete the coursework at The American College to sit for the CFP® exam and intend to pursue CFP® certification will be eligible for the CFP® exam scholarship. Up to 15 CFP® exam scholarships per year will be awarded to first-time CFP® exam-takers on a “first come, first served” basis.

The CFP® exam is just one of several requirements that need to be met in order to become a CFP® professional. In addition to passing the exam, candidates also must meet CFP Board’s experience requirements, pass a background check, have a Bachelor’s degree (or higher) and successfully complete a college-level program of study in personal financial planning.

Those interested in learning more about The American College’s African American Scholarship Program can click here. More about the Center can be found here.

ABOUT THE AMERICAN COLLEGE

The American College of Financial Services was founded in 1927 and is the nation’s largest non-profit 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 prestigious financial planning designations such as the Retirement Income Certified Professional® (RICP®), Chartered Life Underwriter® (CLU®), Chartered Financial Consultant® (ChFC®), Wealth Management Certified Professional® (WMCP®) and education leading to the Certified Financial Planner™ (CFP®) certification. The College’s faculty represents some of the foremost thought leaders of the financial services profession.  For more information, visit TheAmericanCollege.edu.