Caring Cetera Raises $240,000 to date with Launch of Diversity in Financial Planning Scholarship

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LOS ANGELES, Jan. 27, 2021 /PRNewswire/ -- Caring Cetera, a 501(c)(3) nonprofit founded and led by financial professionals affiliated with Cetera, has launched a Diversity in Financial Planning Scholarship and raised $240,000 for the program in 2020. Cetera matched all donations made after the scholarship launched and initial fundraising began during Connect@Home, its virtual conference held in October last year. The scholarship aims to improve diversity within the profession and increase opportunities to work with and benefit all communities to pursue greater financial security and wellness. The Caring Cetera team has plans to expand upon fundraising and scholarship development efforts this year.

Cetera Financial Group (PRNewsfoto/Cetera Financial Group)
Cetera Financial Group (PRNewsfoto/Cetera Financial Group)

The Diversity in Financial Planning Scholarship was created to inspire and help students interested in a financial planning career who are part of traditionally underrepresented communities in the financial profession, including racial minorities, women, and LGBTQ+ individuals. The goal is to provide annual renewable scholarships of $5,000 to students enrolled in accredited financial planning programs throughout the U.S.

Caring Cetera is working alongside a growing list of universities to help design and promote this scholarship. A sampling of the programs includes:

  • Atlanta University Center Consortium (includes Morehouse College, Spellman College, Clark Atlanta University)

  • Arizona State University

  • California State University, Northridge

  • College of St. Rose

  • Delaware State University

  • Illinois State University

  • Kansas State University

  • University of Akron

  • Utah Valley University

  • William Paterson University

In a letter to Cetera's community of financial professionals, the Caring Cetera committee shared, "Our profession faces an impending exodus of the workforce, as the average age in the industry is over 50 and nearly one-third of us are projected to retire in the next 10 years.1 It's also no secret that our field continues to struggle in addressing the lack of diversity among our peers and successors. And according to the CFP® Board, overall diversity is crucial to the sustainability of the financial planning profession.1"

Cetera's CEO, Adam Antoniades, shared, "Together we will help create a future for our profession that is more diverse and equitable. We're proud of this effort undertaken by our financial professional community to create new opportunities for the next generation. We hope this will have a meaningful impact in improving access to sound financial guidance and planning to underrepresented communities."

Administered directly by the universities and their financial planning programs, the Diversity in Financial Planning scholarship will aim to drive financial literacy, advanced education and provide ongoing career development support by working with students to overcome barriers throughout their professional journey. Visit the Caring Center Diversity in Financial Planning Scholarship page on today to learn more.

As part of its mission, Caring Cetera responds at regional and local levels to offer support for disasters and other emergencies that occur in the communities in which financial professionals affiliated with Cetera live and work. Additionally, the charity strives to leave a generosity footprint in the communities of Cetera-hosted events.

1 Why Diversity Matters, Certified Financial Planner Board of Standards, Inc., 2019

About Cetera Financial Group®
Cetera Financial Group (Cetera) is a leading financial advice firm. It empowers the delivery of an Advice-Centric Experience® to individuals, families and businesses across the country through independent financial professionals as well as trusted tax professionals and banks and credit unions. It's headquartered at 200 N. Pacific Coast Highway, Suite 1200 El Segundo, CA 90245-5670.

Comprehensive services include: wealth management solutions, retirement plan solutions, advisory services, practice management support, innovative technology, marketing guidance, regulatory support, and market research.

"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), Cetera Financial Specialists LLC, and First Allied Securities, Inc. All firms are members FINRA / SIPC.

Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.

About Caring Cetera®
Caring Cetera is a nonprofit 501(c)(3) charitable organization founded and led by a team of financial professionals across our firms. Tax ID: 45-3325154


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