TEXAS A&M UNIVERSITY (KRHD) — Texas A&M University is preparing a new pathway for Aggie students, cutting the ribbon on Friday for a new financial planning program designed to give future financial advisors hands-on experience before they enter the workforce.
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The program, funded by Charles Schwab and Carter Financial Management, is designed to meet a growing demand in the industry.
"This is really an opportunity for students who are studying to become financial advisors to actually get real-world practice before they ever get out into their first jobs," Chris Field, director of the financial planning program, said.
Julian Lopez, managing director of Schwab Advisory Services, pointed to the vast number of career opportunities available to students in the field.
"There's over 70,000 places where we can put students into the workforce," Lopez said.
"It's to help foster interest and develop students for that future and that huge demand that's in the market," Lopez said.
The class began in August and is growing. Some students will provide free work to help local neighbors.
"Some will actually start mentoring under CFPs to provide financial coaching to members of our community who might not have access to that otherwise," Field said.
The pro bono financial counseling is being done in partnership with the Bryan-College Station REACH program.
Field said demand is already strong heading into the spring.
"We already have more than 200 budget coaching sessions already booked," Field said.
I spoke with Samuel Medina, an Aggie senior enrolled in the program, who said he's gaining the tools he needs as employers say they want to hire Aggies.
"Oh, of course I'll be using what I'm learning here," Medina said.
Medina already has a plan for after graduation.
"I plan on joining an RIA and becoming a CFP, which is a certified financial planner," Medina said.
He said the field requires more than just technical skill.
"Money is a very sensitive topic and can be emotional, and I feel like if you have that personable skill side, you're able to connect that bridge between it being emotional and it being understandable," Medina said.
Lopez said the program's mission aligns with the university's values.
"That selfless service that we see in the A&M culture and in the core values aligns perfectly with not just our firm, but the industry," Lopez said.
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