WESTLAKE, Texas – (COMMERCIAL THREAD) – The Charles Schwab Corporation has announced a list of universities it will partner with to help increase the diverse talent pool in the financial services industry, through a scholarship program endowed with 3.5 million dollars that will provide financial assistance and career opportunities to students from under-represented communities. The company pledged to pay the endowment – funded by the Charles Schwab Foundation – last summer.
“We believe that programs like our scholarship endowment can have a significant impact on people’s lives by creating educational opportunities, which can help break down barriers and open up new possibilities,” said Carrie Schwab -Pomerantz, President of the Charles Schwab Foundation and Senior Vice President of Charles. Schwab & Co. “Schwab was founded on the belief that our industry should be more inclusive. By encouraging and supporting underrepresented students to consider careers in financial services, we can strengthen both our business and our industry.
A path to careers in finance
Under-represented students at seven partner universities in the United States can apply for around $ 10,000 per year in scholarship funds. In addition to the two-year scholarship, recipients will be invited to apply and participate in an internship at Schwab, which could help inspire a future career in finance.
Participating schools include:
Arizona State University
Texas University of Technology
University of Arizona
In addition to the direct benefits for fellows, the program will also help these universities to improve the diversity of their students for the benefit of the entire student body.
Mentorship and lasting impact
In addition to financial support, the program will provide opportunities for volunteer mentoring and professional development to help prepare fellows for successful careers in financial services.
“By working closely with universities near our employment centers, we believe we can unlock new possibilities through financial support, mentorship, professional development and industry experience,” Schwab- Pomerantz.
This endowment complements other scholarship programs for under-represented communities funded by the Charles Schwab Foundation, including:
A contribution of $ 500,000 to fund scholarships at three historically black colleges and universities (HBCUs): Bethune-Cookman University, North Carolina State Technical and Agricultural University, and Prairie View A&M University.
The RIA Talent Advantage scholarship program through Schwab Advisor Services, which aims to raise awareness of the profession of independent investment advisor and offers scholarships of $ 10,000 to twelve students, with half earmarked for students from under-represented groups.
Schwab’s scholarship programs are part of the company’s ongoing efforts to develop and attract diverse talent by recruiting from under-represented communities, including women, people of color, people with disabilities, and people with military backgrounds. . More information on Schwab’s commitment to diversity is available on the firm’s Diversity & Inclusion website. website.
About the participating universities:
About Charles Schwab
At Charles Schwab, we believe in the power of investing to help people create a better future. We’re used to challenging the status quo in our industry, innovating in ways that benefit the investors, advisors and employers who serve them, and championing our clients’ goals with passion and integrity.
About the Charles Schwab Foundation
The Charles Schwab Foundation is an independent, not-for-profit public benefit corporation funded by the Charles Schwab Corporation and classified by the IRS as a charity under section 501 (c) (3) of the Internal Revenue Code. The Foundation is not part of Charles Schwab & Co., Inc. (SIPC member) or its parent company, The Charles Schwab Corporation. Its mission is to educate, volunteer and advocate for those in need so that everyone has the opportunity to achieve financial well-being. More information is available at https://www.aboutschwab.com/citizenship.
About the Charles Schwab company
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 29.6 million active brokerage accounts, 2.1 million company pension plan members, 1.5 million in bank accounts and approximately $ 6.69 trillion in client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody and financial advisory services to individual investors and investors. independent investment advisers. Its brokerage subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc., (SIPC members, https://www.sipc.org), and their affiliates, offer a full range of investment services and products, including a wide selection of mutual funds; financial planning and investment advice; pension plan and stock compensation plan services; referrals to independent and remunerated investment advisers; and custody, operations and trading support for independent and remunerated investment advisers through Schwab Advisor Services. Its main banking subsidiary, Charles Schwab Bank, SSB (member of FDIC and Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.
TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.