Asked what industry changes he would like to see that would broaden its appeal to potential scholarship candidates such as himself, Lugo said there needed to be more of a focus on college students, not just career changers.
“A lot of times, the younger generation wants to get rich quick by starting the next Facebook or Windows and doesn’t understand the level of sacrifice that goes into creating a successful business,” he said.
Jasmine Ball, a financial advisor with her own practice, Bamboo Financial Partners in Tulsa, Okla., said she entered the scholarhip program to better serve clients.
“There are many financial advisors who have their own practices and do not have their CFP designation,” Ball said in an email. “I knew that both personally and professionally this was something I wanted for myself and my clients.”
“I was confident I would be able to pass it, so I took a leap of faith and began my own practice in December 2021, about three months before testing for the CFP,” Ball said. “Although there are many financial advisors who have their own practices and do not have their CFP designation, I knew that both personally and professionally this was something I wanted for myself and my clients. I knew it would also be a great way to stand out to future clients.”
Ball said she would not have been able to complete the certification process as quickly as she had without the financial assistance of the Diversity Scholarship.
Born in San Jose, Calif., and raised in the rural community of Orland, Calif., Ball said she was the first in her family to attend college. She graduated from Macalester College in St. Paul, Minn., where she received undergraduate degrees in education and psychology. In 2017, she returned home to attend the University of Southern California, where she earned a master’s degree in social work two years later.
In 2011, she got her start as a sales assistant to a financial advisor at Minneapolis-based Foresters Financial Services Inc. while still attending undergraduate classes at Macalester.
Financially independent since age 17, Ball said she financed her bachelor’s degree, master’s degree, most of her Finra exams and CRC certification, but made herself a promise she would not to go into debt again to earn a CFP. The scholarship made that possible.
“I chose to start a business with high start-p costs and expensive marketing opportunities in Los Angeles, one of the most expensive cities in the U.S.,” she said. “Could I have paid for my certification? Yes. Could I have paid for it without going into debt? No.”
Scholarship program graduate Camille York Adrien is a Tampa, Fla.-based advisor affiliated with Raymond James.
“I began my career in youth financial literacy,” she said in an email. “It was through this work that I recognized the importance of increasing my own financial education. I set a goal of one day becoming a Certified Financial Planner professional and achieving the highest standard in personal financial planning for the benefit of my community and future clients.”
York Adrien not only set a goal for herself, but for her clients as well.
“It is my goal to encourage all individuals to harness their full potential to attain financial wellness and develop a healthy relationship with money,” she said. “However, my specific passion and focus is helping women build confidence regarding money management. Whether its encouraging a woman to pull up a seat next to her spouse and engage in major financial decisions or encouraging single women to put on their CFO hat with pride, I aspire to make a major impact in the way that women across the world choose to manage their finances.”
York Adrien faced two obstacles when it came to achieving her goals: the impact of the Covid-19 pandemic and a personal crisis just 10 days before she was scheduled to sit for the CFP exam.
“My husband suffered an accident in our home, resulting in a trip to the ER and an overnight visit,” she said. “I truly believe that had it not been for the study program support and materials provided by the scholarship program, I would not have been successfully prepared to move forward with sitting for the exam after having experienced such a traumatic family event. I am thankful to all the instructors and for all the resources provided that ensured I was successful passing my CFP exam on the first attempt.”
As a certified divorce financial analyst practitioner, York Adrien said she understands how money can be a huge stressor and one of the leading causes of failed marriages.
“Divorce is often a new beginning,” she said. “It’s a chance to make different decisions mentally, emotionally, and financially. As a financial advisor, I have a chance to educate, empower and help develop positive money management behaviors beneficial to individuals and their families as they move forward in a new chapter of their lives.”
Asked what advice she would offer those following in her footsteps, York Adrien indicated that a belief in one’s own potential was the best guarantee of success on the career path to becoming a CFP.
“Don’t let anyone discourage you from realizing your dreams,” she said in the email. “There may be people who say you are not ready and try to discourage you from pursuing the CFP designation altogether, whether intentionally or unintentionally, but if you’ve set a goal for yourself, make sure you give it your all. Throughout my studies, my promise to myself was that I was going to give it everything I had, no matter what. I kept my promise. Make sure you keep yours.”
Ten Eyck said the Diversity Scholarships will now be awarded twice a year, totaling up to 60 scholarships annually, and will coincide with the start of the one-year, structured-pace education programs. The next application deadline is December 31. CFP candidates awarded a Diversity Scholarship associated with this deadline will begin their one-year online studies in March.