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TD Ameritrade awards $25,000 grant to Fox’s new Financial Planning program


July 24th, 2015

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Photo of Fox School of Business and TD Ameritrade representatives on Wall Street.
Director of Development Don Kirkwood (fourth from left) and Financial Planning program director Cindy Axelrod (fifth from left) represent the Fox School of Business July 22 on Wall Street, with a group from TD Ameritrade Institutional, which award Fox’s new Financial Planning major a $25,000 grant. (Courtesy TD Ameritrade Institutional)

TD Ameritrade Institutional has awarded a $25,000 grant to Temple University’s Fox School of Business to foster development of a new financial planning degree program, as part its third-annual Next Gen Financial Planning Grants.

Through its Next Gen Financial Planning Grants, TD Ameritrade Institutional hopes to help the registered investment advisor industry remain vibrant for years to come by encouraging more colleges and universities to expand and enhance their financial planning degree programs, increasing the number of graduates produced each year. According to U.S. Department of Education data, roughly 700 students completed bachelor’s degree programs in financial planning in 2013, while only 90 U.S. colleges and universities offered degrees dedicated to financial planning.

“Independent financial planning is one the fastest-growing areas of the financial services business and may offer some of the brightest career prospects in the marketplace, but advisors need more than financial expertise. They need a strong desire to help people and a talent for building strong ties with clients,” Tom Nally, President of TD Ameritrade Institutional, said in a statement. “Schools like … Temple are helping educate and train a new generation of advisors so they can enter the workplace well-prepared for solving real world challenges.”

As part of a broader effort to encourage more undergraduates to pursue financial planning careers, and avert a talent shortage when thousands of baby boomer-era advisors leave the business, TD Ameritrade Institutional also awarded a grant to the University of North Texas, in Denton, Texas, to expand its existing financial planning degree program.

Temple University’s Fox School of Business will launch its Financial Planning undergraduate program this fall. Grant funds will help fund scholarships to attract top-tier students, underwrite a weekly “seminar series” that brings the workplace to campus, engaging financial planning practitioners in the Philadelphia area to speak with students providing insights into the profession’s challenges, trends and potential opportunities.

The Financial Planning major will prepare students for careers in the growing field bearing the same name, which takes a holistic approach to working with clients in order to enable them to identify and attain lifestyle and retirement goals. Students who complete the Financial Planning curriculum are eligible to sit for the Certified Financial Planner (CFP) examination upon graduation – a unique feature of the program.

“We are incredibly proud to have been selected by TD Ameritrade Institutional as the recipient of this grant,” said Cynthia Axelrod, Program Director of Fox’s Financial Planning major and Assistant Professor of Finance. “Professionals in this field are in high demand, and this grant will bolster Fox’s efforts to provide highly qualified students that will excel as Financial Planners. “

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