The CFP Board has just taken an important step to help more women pursue their plans to join the financial planning profession.
The Certified Financial Planner Board of Standards Inc. has introduced the Peggy Ruhlin Wealth Is Women's Work CFP Exam Scholarship, a new initiative aimed at supporting women who aspire to become CFPs.
The scholarship was created by Peggy Ruhlin, a certified financial planner who overcame challenges to carve out her lengthy career in wealth management.
“This new scholarship reinforces our shared commitment to expanding diversity in financial planning,” CFP Board CEO Kevin R. Keller said in a statement.
The inaugural Peggy Ruhlin Wealth Is Women's Work CFP Exam Scholarship covers $625 toward the early registration fee for the July 2024 CFP exam. To be eligible, candidates must be US residents under 40 years of age who identify as women and who have not registered for the July exam prior to their being notified of the award.
“By supporting women pursuing CFP certification, we are cultivating a more inclusive financial planning profession and improving access to competent, ethical financial advice for everyone,” Keller said.
A 2021 study by the CFP Board underscored the value of the certification to female advisors in particular, with 64% of women CFPs surveyed strongly recommending it, compared to just 52% of men.
Scholarship applications for the July CFP exam will be accepted until March 19; awardees will be notified by March 26. The initiative plans to award 50 scholarships annually through 2027.
Awardees will also receive a copy of Ruhlin’s book, Wealth Is Women's Work: How Women Can Make a Long-Term Impact With a Career in Wealth Management.
“I understand first-hand the challenges women may face as they navigate their careers,” said Ruhlin, recipient of the InvestmentNews Women to Watch Alexandra Armstrong Award for Lifetime Achieve in 2017. “My financial planning career allowed me to thrive both personally and professionally.”
Ruhlin’s professional journey was marked by the dual challenges of managing her accounting career and parenting as a single mother. Eventually, she found her calling in financial planning, which gave her not just career satisfaction but also a conducive work-life balance. After earning her CFP in 1986, she co-founded Budros Ruhlin & Roe, one of the leading wealth management firms in Columbus, Ohio.
Merrill's latest hires span Colorado to Louisiana, even as industry-wide recruiting data suggests the firm is losing almost as many advisors as it gains.
The $36 million buy allegedly hid inflated books and a $50 million diversion.
“An award citing emotional distress is very unusual,” an industry executive said.
New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.
Beyond operational excellence, the winning advisors of the future are the ones who can reach across multiple disciplines without discarding specialist skills.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
