Coppin State University has received a multi-year grant from Schwab Advisor Services, in partnership with the Charles Schwab Foundation to develop programs in financial planning and wealth management, that will lead to meaningful impact in the lives of Coppin students in Wealth Management, the Registered Investment Advisor (RIA) Industry, and the surrounding community.
The considerable grant to Coppin State University, a historically Black public anchor institution in West Baltimore, Maryland, will establish registered financial programs for Certified Financial Analysts or Certified Financial Planners. The programs will provide faculty development and curriculum that will produce education pathways for students to explore careers in wealth management, establish a community-focused center, as well as create a Minority Registered Investment Advisor Mentorship Program.
“The future of financial services is wholly dependent on young professionals entering the space and reflecting the diversity of tomorrow’s investors. We are grateful to join Coppin State University in its mission to help students explore careers in financial services, particularly the RIA industry, which is all about people serving people and their local communities,” said Bernie Clark, head of Schwab Advisor Services.
“We are excited to develop this partnership with the Charles Schwab Foundation, and deeply appreciate their belief in our mission and vision to become a major player in the financial education and services landscape. As two, well-respected institutions, we look forward to a long-term partnership with Charles Schwab as we collaborate to diversify and improve the wealth gap in underrepresented communities,” said Coppin State University President, Anthony L. Jenkins.
“We are thrilled to be able to launch this very significant program that will introduce various aspects of finance to our students and to the community, which will ultimately increase the diversity in the industry. The launching of this program is timely as it coincides with excitement around the College of Business move to its new building which is currently under construction at the heart of campus,” said Dean of the College of Business, Dr. Sadie Gregory.
The grant will also provide Coppin an opportunity to host an annual Closing the Wealth Gap summit on the campus and scholarships to Coppin students.
“This is the largest gift that the University has received, to date,” said Vice President for Institutional Advancement, Joshua Humbert. “We couldn’t be happier to work with the Charles Schwab Foundation in this partnership. We’ll be able to help our students get a bit of an edge in being prepared for careers in the finance industry while addressing the wealth gap that exists in our society and provide real-time solutions.”
The partnership will bring more diversity to the financial services industry where, currently, 76.3 percent of finance professionals are white, and 68.8 percent are men. This partnership will aid Coppin State University in grooming the next generation of students and community members, as they master the financial landscape and nurture community, financial health, and insight.