ASU Equips Students to Advise on Personal Finance Issues

A grant funded by Schwab Advisor Services, in partnership with the Charles Schwab Foundation, supports a new financial planning program at the W. P. Carey School of Business.


TEMPE, Ariz. (Jan. 12, 2021) — A 2019 report by the Federal Reserve documents that 64% of non-retired adults say they are either not on track financially for retirement or are unsure. In that survey, 25% of survey respondents said they had no retirement savings, including 13% of non-retirees over the age of 60. The same study shows stark differences in preparedness by race/ethnicity, as well as large gaps in financial literacy by gender.

That’s why a new grant funded by Schwab Advisor Services, in partnership with the Charles Schwab Foundation, will support the development and delivery of a new financial planning concentration at the W. P. Carey School of Business at Arizona State University. This program will allow students to sit for the Certified Financial Planner (CFP) certification exam, as well as offer additional curriculum designed to support completion of the Security Industry Essentials Exam.

“There was a demand for the financial planning program, and that demand came from both students and the community,” said Laura Lindsey, associate professor and chair of the Department of Finance at the W. P. Carey School of Business. “Several organizations in the financial services industry are interested in hiring our graduates, but the traditional finance degree best prepares students to work in corporate finance, banking, or in a portfolio management function for large institutions. We were missing key components necessary to prepare students to advise holistically at the household or family level.”

Employment for personal financial advisors is forecasted to grow 15% from 2016 to 2026, much faster than average for other occupations, according to the Occupational Information Network (O*NET), which is sponsored by the U.S. Department of Labor’s Employment & Training Administration.

The initial funding will support both expanded efforts to attract talent representing gender and racial/ethnic diversity and the development of targeted coursework for a career in financial planning.

“For young people, a career in the independent advisory profession offers so much opportunity for growth and success,” said Bernie Clark, executive vice president and head of Schwab Advisor Services. “It’s essential that we attract a new generation of advisors to help carry the industry forward and meet the needs of increasingly diverse investors. We at Schwab have long championed this goal, and we are excited to work with the W. P. Carey School to actively support the development of next-generation advisor talent.”

Along with giving students targeted coursework, the program will work with nearby firms to provide internship opportunities for students to better prepare them for a career in financial planning.

“We know that people are a firm’s most important asset, and building a talent pipeline is a critical component of a firm’s long-term success,” said Lisa Salvi, vice president, Business Consulting & Education, Schwab Advisor Services. “Working closely with the W. P. Carey School of Business allows us to not only raise awareness of the independent advisory profession as a compelling career choice but also to make connections among firm leaders and the students who could be their next hires.”

For details about the financial planning business degree at ASU’s W. P. Carey School of Business, please visit

About the W. P. Carey School of Business
The W. P. Carey School of Business at Arizona State University is one of the top-ranked business schools in the United States. The school is internationally regarded for its research productivity and its distinguished faculty members, including a Nobel Prize winner. Students come from more than 100 countries, and W. P. Carey is represented by alumni in more than 160 countries. Visit

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.

About Charles Schwab Foundation
Charles Schwab Foundation is a private, nonprofit organization funded by The Charles Schwab Corporation. Its mission is to create positive change through financial education, philanthropy, and volunteerism. More information is available at The Charles Schwab Foundation is 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. nor its parent company, The Charles Schwab Corporation.

For more information, contact:
Shay Moser, W. P. Carey School of Business

Meredith Richard
Schwab Corporate Public Relations

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