TD Ameritrade Institutional Ushers in National Financial Literacy Month with 5th Annual NextGen Financial Planning Scholarship & Grant Program

Applications Accepted Now Through May 31, 2017

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JERSEY CITY, N.J.–(BUSINESS WIRE)– TD Ameritrade Institutional,¹ a custodian providing brokerage and custody services to more than 5,000 independent registered investment advisors (“RIAs”), is pleased to announce its fifth annual NextGen Financial Planning Scholarship & Grant Program, part of a broader $5 million commitment to help expand the numbers of young people joining the RIA industry.

Undergraduate students interested in pursuing a career in personal financial planning can, now through May 31, 2017, apply for a $5,000 scholarship. Additionally, colleges and universities interested in expanding or launching a financial planning degree program can apply for a $50,000 or $25,000 grant.

TD Ameritrade Institutional wants to help the RIA industry attract a new generation of young talent and foster greater diversity by raising awareness among more students of the career opportunities as an RIA. The program also seeks to increase the capacity of U.S. college campuses to train future advisors and alleviate a looming shortage of advisors as a wave of baby boomers gets set to retire.

“Advisors tell us that hiring young talent is one of the top three ways they’ll grow their firms and attract the next generation of investors,^”2 said Kate Healy, TD Ameritrade Institutional’s managing director of advisor marketing and sustainability. “We want to help by making more students aware of the career opportunities and strengthening financial planning education at schools across the country.”

The Bureau of Labor Statistics forecasts³ 30 percent growth in financial planner jobs by 2024, well above average for all occupations, fueled by the coming wave of baby boomer retirements and the transfer of trillions of dollars to younger generations. On the other end of the wealth spectrum, many Americans are not sufficiently educated when it comes to personal finance, according to Money Management International, a nonprofit credit counseling agency that declares April “National Financial Literacy Month.”⁴

Scholarship & Grant Applications Accepted April 3 – May 31

TD Ameritrade Institutional will award 12 scholarships of $5,000 each to undergraduates pursuing financial planning degrees. At least two of these scholarships will recognize scholars from demographic groups under-represented in the ranks of RIA – including women, blacks, Hispanics and Asians – to help the industry attract a more diverse pool of talent.

Scholarship applicants should be freshmen, sophomores or juniors at an accredited four-year college or university with a satisfactory academic standing and pursuing a bachelor’s in financial planning. Members of under-represented demographic groups may apply for a Diversity Scholarship. Scholarship and grant applications will be accepted April 3 through May 31. TD Ameritrade Institutional has awarded 46 scholarships since launching the program in 2013.

TD Ameritrade Institutional also provides two university grants – $50,000 for an established program and $25,000 for an emerging program. The goal is to increase the capacity of U.S. schools to produce graduates with financial planning degrees and elevate the quality of those programs so that more young advisors can meet the real-world needs of RIA firms.

TD Ameritrade Institutional offers other programs to help new advisors get started and build a career. RIA NextGen Career Exchange is a free resource connecting students with RIAs for internship and job opportunities, while the RIA Intern Network helps advisors implement more effective internship programs to foster the professional development of young advisors. More than 1,100 advisors and 600 students and young professionals have engaged in the RIA Intern Network since its 2014 launch.

“We as an industry – advisors, custodians and others – must do more to support financial planning education and help raise awareness of this profession,” said Healy. “The sustainability of this industry depends on attracting and retaining more young people dedicated to helping Americans plan for and invest in a better financial future.”

Grants Fuel Growth in Financial Planning Education

TD Ameritrade Institutional’s past grant awards – seven in all – are putting their funds to good use. In addition to expanding course offerings, recipients have introduced innovative programs and approaches to help ensure their graduates are better prepared for the workplace.

The $50,000 grant winner of 2015, University of North Texas, established a paid internship program for financial planning students, who developed and now teach a financial literacy course to high school students. University of Georgia, the 2014 winner, established a financial planning lab with an interactive 80-inch screen for client presentation training and is developing an advisor-in-residence program.

Temple University, the $25,000 grant winner in 2015, launched financial planning major, established an outside speaker series and is opening a Financial Planning Association (FPA) chapter on campus. Texas A&M University used its 2014 grant to offer an online learning program to help students prepare for the CERTIFIED FINANCIAL PLANNER^TM exam as well as support a diversity scholarship and related events.

In an effort to help more schools secure additional funding support, TD Ameritrade Institutional on Thursday, April 6, will host a webcast for university and college program directors with tips on how they can enhance proposal writing skills that can help secure grants.

To Learn More and Apply Online

Visit the TD Ameritrade Institutional NextGen Scholarship & Grant home page to learn more about the program and submit an online application.

About TD Ameritrade Institutional
TD Ameritrade Institutional is a leading provider of comprehensive brokerage and custody services to more than 5,000 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
Millions of investors and independent registered investment advisors turn to TD Ameritrade’s (NASDAQ: AMTD) technology, people and education resources to help make investing and trading easier. Online or over the phone. In a branch or with an independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how – bringing Wall Street to Main Street for more than 40 years. TD Ameritrade has time and again been recognized as a leader in investment services. Visit our newsroom or amtd.com for more information.

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 TD Ameritrade Institutional, 2017 RIA Sentiment Survey, January 2017
³ Department of Labor, Bureau of Labor Statistics, Occupational Outlook Handbook, 2016-17, http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm
⁴ Financial Literacy Month, Money Management International, www.financialliteracymonth.com/About

Source: TD Ameritrade Holding Corporation

View source version on businesswire.com: http://www.businesswire.com/news/home/20170404005107/en/

TD Ameritrade Holding Corporation

Joseph Giannone, 201-369-8705

Communications & Public Affairs

Joseph.Giannone@tdameritrade.com

Source: TD Ameritrade Holding Corporation