College students that are pursuing a degree in financial planning are eligible to apply for a scholarship offered through TD Ameritrade Institutional.
“Less then 6 percent of current advisors are under the age of 30 and the average age of most advisors is in the mid fifties," says Kristin Petrick, TD Ameritrade's communications and public affairs spokesperson. "So if you look at those numbers, it tells a story that there is a big opportunity for the next generation of advisors.”
The projected growth rate for personal investment advisors is 32 percent through the year 2020, according to the Bureau of Labor Statistics, which is more than double the expected growth rate (14.3%) for all other occupations for the same time span.
“Also, today’s advisors say recruiting is a top challenge for them. They are concerned about succession planning and they want to leave clients in capable hands, so this is a potential issue,” says Petrick.
Ten $5,000 scholarships will be awarded to students currently enrolled in a Bachelor’s degree program in financial planning at an accredited 4-year college or university.
TD Ameritrade Institutional is also offering a $50,000 grant to a university which best demonstrates a commitment to educating future financial professionals.
For more information on the scholarship program, click here