Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Financial Planning > Behavioral Finance

NASD Reaches Out To Servicemembers

Your article was successfully shared with the contacts you provided.

The National Association of Securities Dealers is setting up a financial education program for military personnel and their families.

The NASD, Washington, is financing the program with $7 million from a 2004 settlement fund, NASD officials said today at a press conference held to launch the program.

Officials said recent research shows that many servicemembers report having difficulty covering expenses and saving for the future.

Although 58% of military investors who participated in a June 2005 survey said it is very important to become knowledgeable about saving and investing, only 29% received a passing grade on a quiz about basic financial knowledge, NASD officials said.

The program will include:

- A new, “coordinated and uniform financial education program” that will train and certify personal financial counselors.

- A program to train military spouses to become volunteer financial counselors.

- Educational toolkits for trainers and investors.

- Educational events on or near military bases.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.