Schwab provides four-year grant to encourage planner diversity

The CFP Board Center for Financial Planning will use the money to support scholarships for CFP certification candidates.

Schwab Advisor Services and the Charles Schwab Foundation are providing the CFP Board Center for Financial Planning with a four-year grant to encourage greater diversity in the profession.

Specifically, the donation will create a scholarship fund over the next four years to support scholarships for CFP certification candidates, including candidates from underrepresented groups. The donation will also provide support for the Center’s annual Diversity Summit in October and funding for co-branded research on diversity in the financial planning profession, the CFP Board said in a press release.

While neither Schwab nor the CFP Board disclosed the amount of the donation or the scholarship amounts, Schwab spokesperson Kristin Meza said the firm “expects eight to 16 scholarships to be awarded over the four-year term.”

Past contributions from Schwab Advisor Services and the Charles Schwab Foundation to the Center have made possible research on racial diversity in financial planning as well as the Center’s Diversity Summit.

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