CFP Board Receives $150,000 Donation for Women’s Scholarship
The donation from Schwab Advisor Services will be used to support the Women’s Initiative Endowed Scholarship.
The Certified Financial Planner Board of Standards Inc. has announced a $150,000 donation from Charles Schwab Corp.’s Schwab Advisor Services, in partnership with the Charles Schwab Foundation, to support the CFP Board’s Women’s Initiative Endowed Scholarship.
This contribution brings the total scholarship fund to $500,000, reaching the threshold needed for the scholarship to begin making its first awards, according to an announcement from the CFP Board, which provides the Certified Financial Professional designation. The initiative is aimed at supporting women pursuing CFP certification by providing financial aid to eligible women students and professionals.
Scholarship recipients will receive up to $5,000 to complete CFP Board registered programs at the undergraduate or certificate level. After completing the required coursework, they will be eligible to sit for the CFP exam and pursue certification. The Women’s Initiative Endowed Scholarship launched in March 2023.
Schwab Advisor Services and the Charles Schwab Foundation have partnered with the CFP Board since 2015. As founding sponsors of the CFP Board Center for Financial Planning, they have helped fund several initiatives with the goal of building an inclusive workforce.
“Schwab’s contribution to the WIN Endowed Scholarship program opens doors for more women, helping us expand the number of women in the financial planning profession,” CFP Board CEO Kevin Keller said in a statement.
The CFP Board credited programs like the WIN Advocate and mentorship program, along with research and events, with playing a role in breaking down gender and diversity barriers. The board stated that the certificate class of 2023 was the most diverse in the board’s history, with nearly 30% of new CFP professionals identifying as women.