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Industry Spotlight > RIAs

TD Ameritrade Institutional Awards 12 Scholarships

By Emily Zulz

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TD Ameritrade Institutional is continuing its efforts to attract and train the industry’s next generation of independent RIAs.

The firm recently announced its sixth annual NextGen RIA Scholarships of $5,000 each to 12 students pursuing bachelor’s degrees in financial planning, including two awards for students from underrepresented demographic groups.

According to Kate Healy, managing director of Generation Next at TD Ameritrade Institutional, the program has attracted more applicants with each passing year.

“We believe this points to a growing interest in financial planning among young adults, which gives me hope for the future of the RIA profession,” Healy said in a statement.

This year’s NextGen RIA Scholarship winners include five students from Utah Valley University — Mana Angilau, Kevin Cowan, Madisen Karlson, Colton Peck and Alex Graham — as well as two students from Virginia Polytechnic Institute & State University, Benjamin Kennedy and Patrick Marcinko.

The remaining student winners are Nicholas Ellison of Liberty University, Alleia James of University of Illinois at Chicago, Thomas Meek of Kansas State University, Seth Newby of Western Kentucky University, and Victoria Santini of the University of Georgia.

In addition, TD Ameritrade Institutional awarded two universities that are building out their financial planning degree programs with NextGen RIA grants totaling $75,000.

The two schools winning this year’s grants are University of Utah of Salt Lake City, which received a $50,000 grant to expand an established program, and Central Washington University of Ellensburg, Washington, which received a $25,000 grant to help launch its emerging program.

A recent study conducted for TD Ameritrade Institutional found that hiring practices among RIAs are evolving to reflect changing demographics. Nearly a quarter of RIAs are hiring college interns and 30% are hiring younger advisors as part of their next-gen planning efforts, according to this study.

Over 10 years, TD Ameritrade has committed to investing more than $4.5 million through scholarships, grants and other education programs.

Emily Zulz

@think_emilyz

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