JERSEY CITY, N.J.--(BUSINESS WIRE)--TD Ameritrade Institutional,1 provider of custody and brokerage services to more than 6,000 independent registered investment advisors (RIAs), is pleased to announce its sixth annual NextGen Scholarships & Grants, part of a 10-year, $5 million commitment to help expand the numbers of young professionals joining the financial planning profession.
U.S. undergraduate students interested in pursuing a career in personal financial planning can apply for a $5,000 scholarship now through June 1, 2018. This year, TD Ameritrade Institutional will award a total of 12 scholarships, including at least two awards recognizing scholars from demographic groups under-represented in the RIA industry to help foster greater racial, gender, and ethnic diversity in the ranks of advisors.
Scholarship applicants should be freshmen, sophomores or juniors pursuing a bachelor's degree in financial planning at an accredited four-year college or university, with a satisfactory academic standing.
TD Ameritrade Institutional, which since 2013 has awarded 58 scholarships totaling nearly $300,000, seeks to help the RIA industry attract a new generation of young talent, and foster greater diversity among advisors by raising awareness of the career opportunities available to RIAs.
Additionally, colleges and universities interested in expanding an established financial planning degree program can apply for a $50,000 grant, while schools with a new or start-up program can apply for a $25,000 emerging program grant. These awards are intended to help increase the capacity of U.S. colleges to train future advisors, helping alleviate a looming shortage of advisors, and elevate the quality of programs so that more young advisors can meet the real-world needs of RIA firms. Since 2013, TD Ameritrade Institutional has awarded $350,000 in grants to five schools.
"Finding, recruiting and developing the next generation of investment advisors are among the biggest challenges faced by independent RIAs. With our NextGen Scholarship and Grant Programs, we want to help expand the pool of top talent by raising awareness of the career prospects among students and supporting the growth of financial planning degree programs,” said Kate Healy, managing director of Generation Next at TD Ameritrade Institutional.
Job prospects are indeed bright for financial planning graduates. The U.S. Bureau of Labor Statistics forecasts 15 percent growth in financial planner jobs by 2026 -- double the overall 7 percent growth rate projected for all other occupations2 -- as a wave of baby boomers depart the financial advice industry and retirees drive demand for wealth management services.
Visit the TD Ameritrade Institutional NextGen Scholarships & Grants home page to learn more about the program and to submit an online application.
About TD Ameritrade Institutional
TD Ameritrade Institutional is a leading provider of comprehensive brokerage and custody services to more than 6,000 fee-based, independent RIAs 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. TD Ameritrade Institutional is a division of TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation.
About TD Ameritrade Holding Corporation
TD Ameritrade provides investing services and education to more than 10 million client accounts totaling more than $1 trillion in assets, and custodial services to more than 6,000 registered investment advisors. We are a leader in U.S. retail trading, executing more than 700,000 trades per day for our clients, nearly a quarter of which come from mobile devices. We have a proud history of innovation, dating back to our start in 1975, and today our team of 10,000-strong is committed to carrying it forward. Together, we are leveraging the latest in cutting edge technologies and one-on-one client care to transform lives, and investing, for the better. Learn more by visiting TD Ameritrade’s newsroom at www.amtd.com, or read our stories at Fresh Accounts.
Brokerage services provided by TD Ameritrade, Inc., member FINRA / SIPC
1 TD Ameritrade Institutional is a division of TD Ameritrade,
Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation
2 Department of Labor, Bureau of Labor Statistics, Occupational Outlook Handbook, http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm
Source: TD Ameritrade Holding Corporation