The CFP Board’s Center for Financial Planning has established a $5,000 minority scholarship in partnership with Baltimore-based Facet Wealth Inc., the companies announced yesterday.

The Facet Wealth Scholarship for Increased Diversity in Financial Planning will support African American candidates seeking to become certified financial planner professionals, regardless of a candidate’s household net worth.

Up to 20 scholarships will be awarded over four years, with the first to be awarded this autumn. The first application deadline closes on August 31, and the first round of scholarship recipients will be announced in November.

The CFP Board launched its Center for Financial Planning in 2015 to promote industry diversity by collaborating with stakeholders within and without the financial planning profession.

In April 2020, CFP Board partnered with California Lutheran University to establish a $5,000 minority scholarship.

"Scholarships can help to ensure a pathway to CFP certification for those from communities that are underrepresented in the financial planning profession, and they can provide an important incentive for candidates to realize their dreams,” said D.A. Abrams, managing director of CFP Board's Center for Financial Planning, in the press release announcing the scholarship with Facet Wealth.  

For further information about the Facet Wealth Scholarship, including application instructions, visit the scholarship webpage.

The Certified Financial Planner Board of Standards Inc. is a non-profit organization in Washington, D.C., that fosters professional standards in personal financial planning.