What You Need to Know
- The firm says it’s focusing on institutions offering CFP programs.
- The expanded offerings, the firm said, now include an increased presence on the campuses of partner schools.
- Commonwealth says it will foster connections between students and its affiliated advisors and support needs of affiliated firms.
Commonwealth Financial Network on Wednesday announced the expansion of its Talent Exchange Initiative to “connect skilled, work-ready students from top-tier universities offering CFP programs with its affiliated advisors.”
Through the expanded initiative, Commonwealth said it is looking to “foster connections between students and its affiliated advisors, cultivate relationships with next-gen talent across the U.S., and support the needs of its affiliated firms.”
“With a sharp focus on eliminating barriers in the student-to-advisor pipeline, we developed the Talent Exchange Initiative to build strategic partnerships with higher-learning institutions and connect students and alumni with our advisors,” said David Israel, vice president of field outreach at Commonwealth.
The firm decided to focus on institutions specifically offering certified financial planner programs to “ensure a high standard of applicant quality,” Israel said.
Commonwealth’s partner universities now include Bentley University, Bryant University, Delaware State University, Temple University, Texas A&M, Texas Tech, Virginia Tech, the University of Akron and Utah Valley University.
“Through our pilot program with Bentley University last year, Commonwealth supported connections that led to meaningful work opportunities for students in the Greater Boston area,” Israel said in a statement.
“We are committed to finding a solution to the succession planning concerns the industry faces. And we support our advisors and honor their legacies by ensuring that their clients have access to the next generation of independent advice from those with a vested interest in their long-term success,” he added.
Because a large percentage of Commonwealth advisors have the CFP designation — 43.2% — the requirements “encourage applicants to connect with candidates right from the start to find common ground and build trust,” the firm said.