New initiative to develop the next generation of diverse financial planners

The financial literacy educational programme will advance underrepresented financial planning professionals

US-based employee financial wellness platform Origin has launched a philanthropic initiative to expand financial literacy education and support the next generation of diverse financial planners.

The “Origin Diversity Program” will provide digital financial literacy courses to high school students from low-income and underserved communities. The courses will “cover the practical steps of managing personal finances and the skills to build lasting, healthy financial habits.”

Via the programme’s scholarship fund, Origin has committed to cover the cost of the CFP® professional exam, training materials, and classes to support the advancement of underrepresented professionals in financial planning where currently, less than 3.5% of all the 80,000 CFP® professionals in the United States are Black or Latinx, according to the CFP Board Center for Financial Planning.

This includes awarding 10 grants valued at $50,000 in its inaugural year. Grant holders will also have access to Origin’s diverse financial planner network for mentorship and development.

Matt Watson, CEO and Co-founder of Origin, said: “We’ve heard from customers that their employees want financial advice from financial planners who understand their unique challenges and goals, but the pool of Certified Financial Planners doesn’t match the diverse workforces Origin serves.

“With the Origin Diversity Program, we hope to break down the barriers to financial wellness by tackling the problem at the root – making financial literacy accessible to marginalised youth and paving a path for underrepresented professionals to make a career in financial planning.”

Ryan Xue, Head of Strategy and Business Operations and the Origin Diversity Program lead at Origin, said: “Many employees who use Origin have big goals in their future but would have had better outcomes had they understood their finances and taken action earlier in their lives.

“Unfortunately, so many young people don’t have access to the resources and education they need to learn healthy financial habits before they enter the workforce. By providing Origin’s wealth of financial education to high schools in marginalised communities, we can help young people start on the right foot for an even brighter financial future.”

Firms that are interested in partnering with the Origin Diversity Program can visit their website here.
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