Texas Tech University Debuts ‘Financial Planning Academy’ for High School Students Interested in Careers in Financial Advice

Sponsored by Charles Schwab Foundation, first of its kind summer camp-style program offers immersive curriculum delivered by professors, college students, and independent financial advisors

Friday, April 15, 2016 8:00 am PDT

Dateline:

LUBBOCK, Texas & SAN FRANCISCO

Public Company Information:

NYSE:
SCHW
"It is never too soon to start raising awareness of what a career as an independent investment advisor entails. More than ever before, developing a diverse talent pipeline, with a team who can ultimately become the next generation of leadership, is crucial to firms’ success."

LUBBOCK, Texas & SAN FRANCISCO--(BUSINESS WIRE)--Texas Tech University has announced its inaugural Financial Planning Academy, a summer program for high school students interested in learning about careers in financial planning and wealth management. Supported by a grant from the Charles Schwab Foundation, the Academy will host 100 students on the Texas Tech campus from June 12 – 17, 2016, and is designed to increase financial literacy, sharpen money management skills and generate early interest among the students in careers as financial advisors.

Curriculum for the Academy, created by Texas Tech Personal Financial Planning Professors Deena Katz and Chris Browning, will provide hands-on, immersive instruction in financial literacy and professional development. Program participants will take part in a wide array of financial planning-related activities, including real world learning opportunities in areas of personal finance and wealth planning. Working in teams with a professional financial advisor and a college student advisor, students will compete to create the best financial plan and for a chance to win scholarships and other prizes.

“We are proud to collaborate with advisors and educators alike to inspire young minds and foster the next generation of talent,” said Bernie Clark, Executive Vice President and Head of Schwab Advisor Services. “It is never too soon to start raising awareness of what a career as an independent investment advisor entails. More than ever before, developing a diverse talent pipeline, with a team who can ultimately become the next generation of leadership, is crucial to firms’ success.”

“Financial planning is both an important skill and a growing professional opportunity. We wanted to host a program that conveys this message to high school students at a time when they are starting to consider college majors and make decisions that will impact their career paths,” said Katz.

The financial advisory industry has grown from $1.6 trillion to $4 trillion in assets under management over the past decade1. Identifying and developing talent is critically important as the industry continues to expand, and advisors tap into the estimated $23 trillion in affluent assets currently outside the independent advice channel2. In fact, talent is one of the top three forces driving change inside today’s registered investment advisor (RIA) firms according to Schwab’s latest Independent Advisor Outlook Study.

“The Financial Planning Academy is an important step for an industry that must continue to attract and grow a new generation of talent. Not only will it expose teens to financial concepts that will benefit them for a lifetime, it also gives independent RIAs in the industry a chance to contribute to the future of their profession,” said Browning.

The deadline to apply to the Financial Planning Academy is May 2, 2016. To download an application and to learn more about the program, click here. For ongoing updates, follow the Financial Planning Academy on Twitter at @TTUFinPlanAca.

About Texas Tech University, Department of Personal Financial Planning

The Department of Personal Financial Planning in the College of Human Sciences educates students on the need to focus financial knowledge on families and the achievement of their goals. Undergraduate and graduate degree programs in personal financial planning are registered by the CFP Board. Students graduating from a CFP Board-Registered Program are eligible to sit for the CFP® Certification Examination.

More information is available at www.depts.ttu.edu/hs/pfp/. Find us on Twitter, Facebook, and LinkedIn.

About Charles Schwab

At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

The Charles Schwab Foundation is a nonprofit, private foundation, classified by the IRS as a charity under section 501(c),(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company The Charles Schwab Corporation.

More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube, and LinkedIn.

Disclosures

Through its operating subsidiaries, The Charles Schwab Corporation (NYSE:SCHW) provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.

Independent investment advisors are not owned by, affiliated with or supervised by Charles Schwab & Co. Inc.(“Schwab”).

Texas Tech University and its employees are not affiliated with or employees of Charles Schwab & Co. Inc., The Charles Schwab Corporation, or the Charles Schwab Foundation.

1 Cerulli Advisor Metrics, Cerulli Lodestar 2012 and Schwab analysis for RIA channel growth, 2013-2014
2 Schwab strategy estimates, individual company financial reports, FDIC, ICI, Federal Research Flow of Funds, Cerulli Associates and Discovery Database, 2013-2014

(0416-1612)

Contact:

Texas Tech University
Heidi Toth, 806-742-2136
heidi.toth@ttu.edu
or
Charles Schwab
Rob Farmer, 415-667-0083
Rob.Farmer@schwab.com
or
The Neibart Group
Mayrav Weiss, 718-801-8864
sas@neibartgroup.com

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