Texas Tech University

Financial Planning Academy for Teens Interested in Financial Advisory Careers

Heidi Toth

April 15, 2016


Sponsored by Charles Schwab Foundation, the first-of-its-kind program will feature curriculum from college students, professors and independent financial advisers.


Texas Tech University has announced its inaugural Financial Planning Academy, a summer program for high school students interested in learning about careers in financial planning and wealth management.

Supported by a grant from the Charles Schwab Foundation, the academy will host 100 students on the Texas Tech campus June 12-17 and is designed to sharpen money management skills and generate early interest among the students in careers as registered investment advisers (RIA).

Curriculum for the academy, created by Texas Tech personal financial planning professors Deena Katz and Chris Browning, will provide hands-on, immersive instruction in financial literacy and professional development. Program participants will take part in a wide array of financial planning-related activities, including real-world learning opportunities in areas of personal finance and wealth planning. Working in teams with a professional adviser and a college student adviser, students will compete to create the best financial plan for a chance to win scholarships and other prizes.

Deena Katz
Deena Katz

“We are proud to collaborate with advisers and educators alike to inspire young minds and foster the next generation of talent,” said Bernie Clark, executive vice president and head of Schwab Advisor Services. “It is never too soon to start raising awareness of what a career as an independent investment adviser entails. More than ever before, developing a diverse talent pipeline, with a team who can ultimately become the next generation of leadership, is crucial to firms' success.”

“Financial planning is both an important skill and a growing professional opportunity,” Katz said. “We wanted to host a program that conveys this message to high school students at a time when they are starting to consider college majors and make decisions that will impact their career paths.”

Chris Browning
Chris Browning

The financial advisory industry has grown from $1.6 trillion to $4 trillion in assets under management in the past decade, studies show. Identifying and developing talent is critically important as the industry continues to expand and advisers tap into the estimated $23 trillion in affluent assets outside the independent advice channel. In fact, talent is one of the top three forces driving chance inside today's RIA firms, according to Schwab's latest Independent Advisor Outlook Study.

“The Financial Planning Academy is an important step for an industry that must continue to attract and grow a new generation of talent,” Browning said. “Not only will it expose teens to financial concepts that will benefit them for a lifetime, it also gives independent RIAs in the industry a chance to contribute to the future of their profession.”

The deadline to apply to the Financial Planning Academy is 5 p.m. CT May 23. To download an application and to learn more about the program, click here. For ongoing updates, follow the Financial Planning Academy on Twitter at @TTUFinPlanAca.