The financial planning sector is continuously evolving, and Abacus Wealth Partners, a leading Registered Investment Advisor (RIA) managing approximately $3 billion in assets, is at the forefront of driving positive change. With a mission to “expand what’s possible with money,” Abacus is deeply committed to fostering a more diverse and equitable financial services industry. In partnership with the CFP Board Center for Financial Planning, Abacus Wealth Partners proudly offers the Abacus Wealth Partners Scholarship for Increased Diversity in Financial Planning. This scholarship is specifically designed to provide financial assistance to talented students from underrepresented populations who are dedicated to pursuing CFP® certification and demonstrate financial need.
Recognizing that diverse perspectives are crucial for the future of financial planning, this scholarship aims to ensure that every American has access to competent, ethical, and culturally aware financial advice. By supporting aspiring financial planners from diverse backgrounds, Abacus Wealth Partners is investing in a profession that truly reflects the communities it serves.
This impactful scholarship awards up to $5,000 per deserving student. The funds are intended to support individuals enrolled in undergraduate or certificate-level CFP Board Registered Programs. Completion of these programs qualifies students to sit for the prestigious CFP® exam, a crucial step towards a successful career in financial planning.
Eligibility Criteria for the Abacus Wealth Partners Scholarship
To be considered for the Abacus Wealth Partners Scholarship, applicants must meet the following essential requirements:
- No Prior Scholarship: Applicants must not have previously received a scholarship from the CFP Board Center for Financial Planning, ensuring opportunities are extended to new candidates.
- U.S. Residency: The scholarship is open to residents of the United States, focusing on domestic talent and needs.
- Underrepresented Ethnicities: Candidates must identify as belonging to one or more of the following underrepresented ethnic groups: Asian, Black or African American, Hawaiian Native or Pacific Islander, Hispanic or Latino, American Indian or Alaskan Native. This criterion is central to the scholarship’s mission of increasing diversity.
- Enrollment in CFP Board Registered Program: To receive the scholarship award, selected candidates must be enrolled in an eligible undergraduate or certificate-level CFP Board Registered Program. A comprehensive list of eligible programs is available for review. Applicants not yet enrolled at the time of application will have a 3-month window to enroll upon receiving the award notification, or they may forfeit the scholarship.
- Academic Standing: For undergraduate applicants, they must not be in their final semester at the time of application, allowing the scholarship to support continued studies. Certificate-level applicants must hold an undergraduate degree and must not have completed more than five courses within their certificate program at the time of application, ensuring the scholarship supports those early in their certification journey.
- Program Enrollment Documentation: Successful applicants must provide official documentation confirming enrollment in an eligible program and outlining associated costs before receiving the scholarship funds.
- Demonstrated Financial Need: A critical component of the application is an essay detailing the applicant’s financial need, allowing the scholarship to reach those who would benefit most from financial assistance.
- Commitment to Financial Planning: Applicants must articulate their dedication to the financial planning profession in a compelling essay, showcasing their passion and long-term goals within the industry.
- Professionalism and Public Image: Through an essay, candidates are required to demonstrate their understanding of professionalism and their commitment to enhancing and upholding the public image of financial planning, emphasizing ethical conduct and client-centric values.
- Background Check: Final round applicants will be required to successfully pass a background check conducted by the CFP Board, maintaining the integrity and trustworthiness of scholarship recipients and the profession.
Application Submission Requirements
The application process for the Abacus Wealth Partners Scholarship is exclusively online through a designated webpage. Applicants are explicitly instructed not to submit application materials via email, postal mail, or fax, ensuring a streamlined and efficient application process.
A key aspect of the application review is the evaluation of submitted essays and materials for spelling and grammar accuracy. Candidates are strongly advised to pay meticulous attention to these details, as they are integral to the grading process and reflect an applicant’s professionalism and communication skills.
Scholarship Award Distribution
Scholarship awards are disbursed in two equal installments, providing sustained support throughout the recipient’s program. To receive the initial installment, awardees must furnish proof of enrollment in a qualifying CFP Board Registered Program. Those not yet enrolled at the time of notification have up to three months to enroll and provide proof.
The second installment is released upon the recipient reaching the halfway point of their program if they had not yet begun coursework at the time of the first disbursement, or upon successful completion of the program if coursework was already underway when the scholarship was initially awarded. This structure ensures funds are received at crucial stages of the educational journey.
Application Deadline and Award Notification
Please note that the application window for the Abacus Wealth Partners Scholarship for the 2024-2025 academic year closed on April 8, 2024.
Applicants were notified of the scholarship award decisions via email by June 3, 2024. For any inquiries regarding application status, applicants are directed to contact the provided email address for assistance.
By investing in the next generation of diverse financial planners, Abacus Wealth Partners, through this scholarship, is not only transforming individual lives but also enriching the financial planning profession as a whole, ensuring a more inclusive and representative future for financial services.
