In an important step forward for supporting women to take up careers like financial planning, the FPA is administering a new grants program for education in finance and economics.
From late August 2021, applications will open for a new grant program available for women looking to secure funding for education and career development opportunities. The Women in Finance and Economics Scholarship Program has been made possible thanks to a $1.5 million grant from the Australian Government. The aim of the program is to encourage more women to study financial planning, accounting, business, finance and economics, or to renew, upskill or refresh their skills in these areas.
Grants for education and career development
Under the new program, the FPA will administer the application process and award grants of up to $50,000 for women to undertake a course of study or career development activities such as work placements, internships, conference attendance, and leadership training.
Supporting a new generation of leaders
The program has been introduced to encourage and assist women, particularly those from disadvantaged backgrounds, to enter, re-enter and achieve leadership roles across financial services. As part of the existing Women’s Leadership and Development Program (WLDP), the new scholarships will contribute to the following goals:
- Women’s Job Creation
- Women’s Economic Security
- Women’s Workforce Participation
- Women’s Leadership
These scholarships will help create a talent pool and pipeline for diversity in business leadership for the future.
A commitment to more women in financial planning
Appointing the FPA to administer this scholarships program recognises the leadership we have shown in supporting women to further their careers in financial planning. Since launching our Women in Financial Planning program, the FPA has been committed to providing women with important opportunities for their professional development in financial planning. Through networking events and mentoring programs we have sought to provide women with paths to advance in our profession. Increasing the number of women in financial planning will not only grow the profession, but also fill the unmet advice need in Australia which will help more consumers.
Better opportunities for disadvantaged women
To be eligible for a scholarship under the program, women must be able to meet the following criteria for the duration of their scholarship:
- An Australian citizen
- Able to demonstrate financial need
- A new student (i.e. not currently studying economics or finance) OR
- Intending to upskill or refresh their skills in financial planning, accounting, business, finance and economics to help them enter, re-enter and achieve leadership roles in these industries/professions
Disadvantaged women who meet any of the following criteria are encouraged to apply:
- Low socio-economic status
- Re-entering the workforce
- Mature (over 50 years of age) or young (16 to 35 years of age)
- Aboriginal or Torres Strait Islander
- New migrants
- Living in rural or remote areas
Register your interest
To build on this new program, the FPA is calling on other donors and philanthropists to add their contribution to create more scholarships and expand the program. The FPA is looking to offer a suite of scholarships that benefit men and women, with a range of differing needs, who wish to upskill and further their financial planning education.
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If your organisation would like to donate to another scholarship please get in touch with Anne Palmer Head of Education and Professionalism at [email protected]
You can also register to receive updates updates on the scholarship program or visit the FPA website to find out more.
