A new program to help increase the number of women in the financial planning industry was announced by the CFP Board Center for Financial Planning.
The CFP Board said it will launch an endowed scholarship to mark the 10th anniversary of its Women’s Initiative (WIN): the WIN Endowed Scholarship program. The scholarship is aimed at helping qualified women students and professionals who want to complete the educational requirements for achieving CFP® certification.
Under the program, $5,000 will be awarded per qualified student to help them complete a CFP Board registered program. Upon completing the required coursework, recipients of the scholarship will be eligible to take the CFP® exam and pursue the next steps to achieve CFP® certification.
The CFP Board began WIN in 2013 to address the underrepresentation of women as financial planners, by attracting and developing more women for the profession. It said the scholarship program will support the next generation of women who are committed to becoming CFP® professionals.
“By becoming financial planners, women can empower themselves and other women to take control of their finances and achieve financial independence. They can help educate women about financial literacy, investment strategies and retirement planning, which can be particularly valuable in a society where women often face financial challenges and inequalities,” said CFP Board CEO Kevin R. Keller, CAE. “The WIN Endowed Scholarship program will help to ensure that talented and motivated women have the support they need to pursue a career in financial planning and earn their CFP® certification.”
The CFP Board said it has seen some improvement in the number of women CFP® professionals but added there is still much work to be done. The board noted that only 23.6% of all CFP® certificants are women at a time when women make up over half of the U.S. population.
The 2022 class of new certificants represented the most diverse class in history, with a record 1,519 new women CFP® professionals.
The WIN Endowed Scholarship program is the second endowed scholarship offered by the CFP Board, after last year’s creation of the LeCount R. Davis, CFP® Scholarship, honoring the first Black CFP® professional.
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