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About the Scholarship

Facet Wealth Scholarship

We believe that every individual deserves access to high quality, ethical, comprehensive financial life advice to empower them to achieve their life goals. To make that possible, we know we need a diverse mosaic of professionals in the industry. Through this scholarship, we are doing what we believe in to bridge the gap in access to this amazing profession. Diverse representation in the profession will lead to better outcomes for a more diverse set of clients.

The Facet Wealth Scholarship for Increased Diversity in Financial Planning provides financial assistance to qualified African American/Black candidates for CFP® certification. Facet Wealth has partnered with the CFP Board Center for Financial Planning to offer this unique scholarship as an extension of the firm’s mission to provide all families with the benefits of a relationship with a CFP® professional, regardless of socioeconomic status or net worth. The scholarship is generously funded by Facet Wealth with additional financial support provided by Jeff Stein, Triad Financial Advisors, Inc. and Warburg Pincus Foundation. Learn more about Facet Wealth and their Diversity initiatives here.

The scholarship awards up to $5,000 to students seeking to complete a certificate or undergraduate degree in Financial Planning from a CFP Board Registered Program that would qualify them to sit for the CFP® exam. In addition to the financial assistance, students can elect to receive mentorship from one of Facet Wealth’s CFP® professionals throughout their course of study.

Applications will be reviewed by an independent Scholarship Review Panel comprised of CFP® professionals and members of the Facet Wealth Diversity, Equity & Inclusion Committee. Recommended finalists will undergo a background check and be reviewed by Facet Wealth representatives before being selected to receive an award.

Award process

Scholarship awards will be disbursed in two equal installments. To receive the first installment, recipients will have to demonstrate proof of enrollment in a Financial Planning certificate or undergraduate degree program. If not currently enrolled in a program, recipients will have up to 3 months to enroll after being notified of the award. The second installment will be awarded either upon completing the program (if the awardee has already started coursework), or when the awardee is half-way through the program (if the awardee has not yet started coursework). There is no obligation for recipients to be affiliated with Facet Wealth following successful completion of the program.

eligibility Requirements

  • Must be legally able to work in the United States;
  • Must possess an undergraduate degree (if applying for a scholarship for a certificate-level program);
  • Must be enrolled in a certificate or undergraduate-level CFP Board Registered Program;
  • If not enrolled at the time of applying, scholarship awardees will have up to 3 months to enroll or forfeit the award;
  • Must identify as Black or African American;
  • Must have a demonstrated financial need, as explained in an essay to be submitted during the application process.

Applicants who are selected to proceed to the final round of the application review process will be required to pass a background check conducted by CFP Board.

SUBMISSION REQUIREMENTS

Applications will only be accepted through the application form below. Please do not attempt to submit application materials via mail, fax or email. When submitting application essays and materials, please pay close attention to spelling, grammar and presentation, as that will be factored into the grading process.

application window

The application window will be open until September 30, 2022.

Award Decision

Scholarship applicants will be notified of the award decision via email in November 2022. If you have a question about the status of your application, please contact us at scholarships@cfpboard.org.

Application

CFP Board Account Number (if you don’t have a CFP Board account, click here to create one)

Important: Be sure your CFP Board account includes: 1) your date of birth, and 2) the last four digits of your social security number. Not having this information may delay your application and disqualify you from the scholarship.

Ethnicity: I identify my ethnicity as:

Please submit an essay (500-1,000 words) that answers the following questions:

Please upload an essay that addresses each of the questions below as a single Word document or PDF. Please pay attention to spelling and grammar as that will be factored into the grading process.

Imagine you are already a CFP® professional. What would you be doing? What types of clients would you be working with and why? How would you build awareness about the importance of financial literacy/wellness within your own community?

Additional Questions

Please provide: 1) the name of a CFP Board Registered Program you are attending and whether it is an undergraduate-level or certificate-level program, and 2) how far along you are in the program. If you are not yet enrolled, enter “Not Yet Enrolled.” Click here to find the name of your CFP Board Registered Program. If your program is not listed here, consult with your academic institution to get the program name.

Please note: In order to receive the award, you must be enrolled in an undergraduate or certificate-level CFP Board Registered Program. If not enrolled at the time of applying, scholarship recipients will have up to 3 months to enroll after being notified of the award, or will forfeit the award.

CFP Board will evaluate scholarship applicants against the Fitness Standards that apply to those who are applying for CFP® certification (https://www.cfp.net/get-certified/certification-process/ethics-requirement/fitness-standards). CFP Board will review the scholarship applicant’s background pursuant to the same process that CFP Board reviews applications for CFP® certification. If CFP Board discovers information that would subject the scholarship applicant to an investigation if the scholarship applicant were an applicant for CFP® certification, then CFP Board will deny the scholarship application. The fact that an individual receives a scholarship does not guarantee that the individual will satisfy CFP Board’s Fitness Standards when the individual later applies for CFP® certification.