Ameritas is doing its part to elevate and empower women in financial services.
Together, Ameritas and The American College of Financial Services and Women in Insurance & Financial Services (WIFS) are funding a new scholarship aimed at helping women advance in the industry.
Read below to learn more about this initiative and how it could help create more diversity in finance.
About the scholarship
The Ameritas Scholarship for the Advancement of Women in Financial Services is offered by The American College of Financial Services to promising female students seeking the Wealth Management Certified Professional (WMCP) designation. To obtain the WMCP designation, students must complete a series of courses designed to teach the fundamentals of investment management, portfolio management and financial planning strategies.
In 2021, Ameritas is committing $75,000 to help support 24 successful applicants in their studies. As part of its contribution, WIFS will fund and organize a mentoring program to help women in finance navigate the financial and insurance industry.
Why it matters
The scholarship is intended to elevate women financial professionals, helping them grow their practices to serve clients in every aspect of their financial well-being. It’s all part of a larger effort to break down barriers to women’s advancement in the traditionally male-dominated financial services industry.
Women are well-represented at the lower levels of most financial firms, accounting for more than 50% of the total financial workforce. But women constitute just 21.9% of leadership positions. That figure is projected to reach 31% by 2030, which is still well below their 51.1% share of the total U.S. population.
There won’t be gender parity at leadership levels until 2085. Initiatives like this scholarship are intended to accelerate this societal shift and promote more diversity in finance.
Eligibility
The American College of Financial Services lists a number of eligibility criteria to consider before applying. Students who are interested in securing funding must:
- Enroll in the Wealth Management Certified Professional (WMCP) designation program.
- Identify as female/a woman.
- Work in the financial services industry.
- Not be eligible for educational reimbursement from their employer.
- Not be an employee of Ameritas.
- Not be a current student of The American College of Financial Services or have already been awarded a scholarship to The College.
Individuals are only eligible for one full program scholarship, and they may not reapply to a future cohort if they’ve already received funding.
How to apply
Eligible candidates can visit The American College website to start their application for the 2022 scholarship. The 2021 scholarship is closed and the winner to be announced later this month.
About the other sponsors
American College of Financial Services
The American College of Financial Services is the country’s largest nonprofit educational institution for financial services. It is accredited by the Middle States Commission on Higher Education, one of the highest accreditation bodies in the country.
In addition to the WMCP, The College offers several other designation programs, providing a range of opportunities to students in the industry. One in five financial advisors in the U.S. has been educated at The College.
WIFS
Women in Insurance and Financial Services is the largest association aimed at empowering women in finance and insurance. WIFS is committed to supporting career development opportunities, particularly by providing mentorship to budding professionals.
Although they primarily target women in male-dominated industries, their services are not exclusive and are open to all women seeking to advance their careers. WIFS has a vast membership composed of industry leaders and other professionals. They gather for events, seminars and conferences to share their expertise and encourage the development of other members.
Ameritas stands with women in finance
We are committed to empowering women in financial services, but we know there’s a long way to go. This scholarship is one part of a much bigger effort to elevate women and create more gender equity across all levels of the industry. Women’s History Month may end on March 21, but we intend for the impact of this scholarship to be felt for generations.
Ameritas is in the business of fulfilling life. Bringing you valuable information to help you plan well and enjoy life is part of what we do.
