This scholarship program aims to empower underrepresented individuals from any socioeconomic background who aspire to earn their Certified Financial Planner™ certification.
The program is designed to increase the diversity of race, ethnicity, gender identity, sexual orientation, and ability within the financial planning profession and the financial wellbeing space as a whole.
About the LearnLux CFP® Opportunity Scholarship
In 2022, the Certified Financial Planner Board of Standards, Inc. (CFP Board) experienced significant growth and diversity among CFP® professionals, reaching all-time highs for the number of new women and racially and ethnically diverse individuals obtaining CFP® certifications.
The class of 2022 welcomed 5,214 new CFP® professionals, and more than 55% of them were under the age of 35. This new class was the most diverse in CFP Board's history, with 1,519 women making up nearly 30% of the new CFP® professionals, and 763 racially and ethnically diverse individuals, representing almost 15% of the new certificants.
The commitment to diversity in the financial planning profession by the CFP Board and initiatives like the LearnLux CFP Opportunity Scholarship aim to better serve the needs of the public, while meeting the increasing demand for financial planning services and ensuring access to highly credentialed and ethical financial planners.
“As the most accessible and equitable financial wellbeing solution, we serve incredibly diverse workforces,” LearnLux CEO Rebecca Liebman said. “It's our responsibility to create belonging in the financial services industry by having planners who represent every LearnLux member. This means creating a judgment-free space where people can talk about money with someone they are comfortable with. We are excited to award another winner of the LearnLux CFP® Opportunity Scholarship with this mission in mind.”
The scholarship, which LearnLux awards annually, helps prepare recipients to sit for the CFP® exam within 18 months. Recipients join a growing network of LearnLux planner professionals and fellow awardees who are making their mark in the financial planning field.
To celebrate this year’s scholarship winner, we sat down with Wahidah to chat about her goals, aspirations, her career so far, and what winning the scholarship means to her.
Wahidah, congrats on being the 2023 recipient of the LearnLux CFP® Opportunity Scholarship. Tell us a bit about yourself and your career.
Seven years ago, I began educating myself in personal finance, really for my own gain. I felt behind my peers money management-wise, and I was determined to make a change. I started a deep dive into everything personal finance and have not stopped. Using the money management skills I learned, I invested $100K at the age of 27 and began teaching my community how I did it.
Turns out, I like to teach, and I do it well. Three years ago I started Investing Coach Wahidah (formerly Saved It! Financial Coaching) a financial coaching service that teaches people how to reach their money goals. Financial coaching has allowed me to hone my skill of taking big concepts and breaking them down in a way clients understand.
To what do you contribute your success in your career so far?
A vital component to my success comes from providing clients a judgement-free zone to ask questions and learn. Knowing I have their best interests at heart builds tremendous trust. These skills will allow me to excel at building client relationships as a financial planner.
Tell us more about the populations that you are most passionate about serving as a Certified Financial Planner™ professional.
In 2019, Asian women contributed $1.7 billion in labor every day to the gross domestic product (GDP). Black women contributed $3.8 billion and Latinas, $4.2 billion. However, when it comes to the wealth building world, these women are not the target audience. They feel their life experiences and financial goals for their intergenerational family are often not represented.
More women in the workforce means greater spending power. Tools and platforms are key to managing and amplifying women's financial wellness. I want to be part of that change, building the platforms to build generational wealth for women of color. I want to build a community where Asian, Black, and Latina women are the focus so we can hone in on their pain points to truly make a lasting impact on their wealth-building journey.
How will the LearnLux CFP® Opportunity Scholarship support you in your career endeavors?
I want to make meaningful changes in people’s lives, this is why I am so drawn to become a certified financial planner.
My long-term goal is to work with high-net-worth women and women of color founders and to work on initiatives to close the gender wealth gap. Nothing bad happens when you give women more money. When you give women more money, you’ll see that compared to men, more of the money is put back into the community and more of the money is put back towards the family.
In my heart I know I’m doing what’s right.
Congratulations, Wahidah! To learn more or apply for the LearnLux CFP® Opportunity Scholarship, visit https://info.learnlux.com/apply-for-the-learnlux-cfp-scholarship.
To learn more about the CFP® Board's certification process, visit: https://www.cfp.net/get-certified/certification-process