The CFP Board Center for Financial Planning said Wednesday that it’s joining the Financial Alliance for Racial Equality, a partnership between financial services firms and associations and historically Black colleges and universities.
The group was formed late last year to contend with the barriers to entering the financial services profession faced by Black advisers and financial professionals.
Next year, FARE plans to fund a scholarship to help people of color earn the certified financial planner designation.
“We are eager to join FARE and help Black professionals become more familiar with the financial planning profession and ensure that they have the right resources to become successful once they join,” Kevin R. Keller, chief executive of the Certified Financial Planners Board of Standards Inc., said in a statement.
Other members of FARE include Nationwide Financial, Morgan Stanley & Co., M Financial Group, NFP, Employee Benefit Research Institute, Huntington Bank, Franklin Templeton, Miami Life, Advisor Group Inc., DCIIA, the American College of Financial Services, and Capital Group Inc.
HBCUs in the Alliance include Hampton University, Howard University, Lincoln University, Virginia State University, Virginia Union University and Winston-Salem State University.
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