20 by 2020

moXY Financial 20 by 2020 Initiative

Problem

There are 77,880 registered CFP® Certificants, of which approximately 1% or 780 are African American according to the most recently reported estimates from the CFP® Board.*

Goal

To help at least 20 African American advisors obtain the CFP® credential by the end of 2020 thereby increasing the number of African American CFP® professionals by approximately 3%.

Approach

Sponsorship – Each candidate will be teamed with a seasoned wealth management professional who will encourage and motivate the candidate in the months leading up to the comprehensive examination.  The sponsor will also provide advice on career options and arrange for informational interviews with industry professionals.

Group Study – Groups of 2 – 4 candidates will meet regularly to provide peer support and accountability.  Positive peer pressure can be a powerful force when working toward a common goal.

Scholarship – Each candidate will receive a monetary scholarship allocated to a high impact area expected to materially impact the likelihood of passing the CFP® examination.

Community Outreach – Each candidate has up to 6 months following the exam to deliver at least 2 financial planning presentations.

Career Advancement – Each candidate will receive detailed feedback on their professional development, regular coaching sessions and introductions to numerous professionals in the field.

 

About moXY Financial

moXY Financial is a financial educational website for overachieving Gen XY professionals committed to service and building wealth.  In that order.  The site facilitates conversations about wealth and purpose in a supportive and collaborative online environment.

*As of 5/31/2017 the CFP Board did not publish the ethnic composition of CFP® Professionals.  The last available figures were obtained from an article entitled None Too Soon: Seeking Ethnic Diversity in Financial Planning from the April 2002 Issue of the FPA Journal.  Despite several recent requests, the CFP® Board has not released the current racial composition of CFP® Certificants in over a decade.