Finance
As more women become financial planners, CFP Board launches scholarship for female students
The CFP Board launched a new scholarship for feminine college students, an initiative aimed toward bettering the underrepresentation of girls within the monetary planning trade.
Knowledge from the board, which oversees the planner credential, exhibits that solely 23.6% of all roughly 95,000 certificants are ladies, whilst ladies comprise greater than half of the American inhabitants.
The endowed scholarship program will award as much as $5,000 per certified scholar searching for to finish an undergraduate- or certificate-level CFP Board registered program. After graduating, college students will probably be eligible to sit down for the CFP examination, the primary massive step in a planner’s profession.
“Welcoming extra ladies into the monetary planning career is sweet for girls, good for the career and good for enterprise,” Nancy Kistner, the founding chair of the Girls’s Initiative Council, stated in a press release.
The initiative comes because the monetary planning trade attracts rising curiosity from ladies. Feminine advisors represented practically 30% of all new CFP professionals in 2022, a 12 months with an all-time excessive of 1,519 new ladies and probably the most various class within the group’s historical past.
Liv Gagnon, the co-founder of Choir, a platform targeted on pushing for extra various illustration at trade conferences, stated diversity-focused scholarships are a great way to encourage extra ladies to pursue careers in finance. However it’s additionally essential to handle the way to preserve ladies within the trade.
“What drives a lot of them to depart the sector after just a few years is the systemically hostile and unjust work environments they expertise as soon as they’re right here,” Gagnon stated. “The ‘fairness and inclusion’ components of DEI (range, fairness and inclusion) are essential if we wish to see these numbers improve in a sustainable method. That is going to require a top-down strategy.”
In accordance to a survey by OneAmerica, an insurance coverage and monetary providers supplier in Indianapolis, Indiana, ladies are drawn to the monetary advisor career — and motivated to remain — for the chance to assist folks. The examine discovered that 56% of all early-career respondents stated “serving to folks with funds” was their main motivation for turning into an advisor. The survey additionally confirmed that feminine advisors search group, connection and a agency that is a cultural match.
CFP Board CEO Kevin R. Keller stated extra feminine advisors also can translate to extra ladies as shoppers and assist them to take management of their funds to attain monetary independence.
“They may help educate ladies about monetary literacy, funding methods and retirement planning, which might be notably precious in a society the place ladies usually face monetary challenges and inequalities,” he stated in a press release.
Girls at the moment management one third — greater than $10 trillion —of complete U.S. family monetary property, in accordance to a 2020 report by McKinsey. By 2030, American ladies are anticipated to regulate a lot of the $30 trillion in monetary property that child boomers will possess, a quantity that approaches the annual U.S. GDP, the consulting agency discovered. The examine additionally reported the potential wealth switch also can imply new alternatives for companies: 70% of girls change monetary advisors inside one 12 months of their accomplice dying.
Sandy McCarthy, the president of retirement providers at OneAmerica, stated in a press release that the trade must band collectively.
“We are able to work collectively as an trade,” stated, “not solely to get ladies within the door, however to help, retain and develop them all through their careers.”
Finance
China’s Finance Ministry Vows Greater, Faster Spending in 2025
China’s finance ministry reaffirmed it will increase public spending with a greater focus on boosting consumption to support the economy next year, ahead of growth headwinds from looming US tariffs.
China will “expand the magnitude of fiscal spending and accelerate the spending pace,” according to a statement published Tuesday following a two-day national conference held by the Ministry of Finance on fiscal work in 2025.
Finance
All 11 sectors expected to broaden out in 2025, strategist says
United Parcel Service (UPS) is just one of Powers Advisory Group Managing Partner Matt Powers’ top picks for 2025, calling the postal carrier and logistics operator as having “defensive characteristics and high valuations” as it looks to get carried by several tailwinds next year. UPS is set to release fourth quarter earnings results on January 30, 2025.
Powers sits down with Wealth host Brad Smith to talk about the other opportunities he is seeing across markets (^DJI, ^IXIC, ^GSPC) in the new year.
“Broadening it looks like so all 11 major sectors are actually expected to have year over year earnings increases in 2025. And I think we had or will have seven of the 11 this year, which suggests broadening out,” Powers tells Yahoo Finance.
“But the S&P [500] is trading at 21 times forward earnings, while dividend growth equities which is kind of our core focus are at 19 times. So we see again going back to that back-to-basics approach shifting towards value and just underappreciated areas of the market.”
To watch more expert insights and analysis on the latest market action, check out more Wealth here.
This post was written by Luke Carberry Mogan.
Finance
Wall Street preps for shortened trading week, Honda & Nissan merger talks: Yahoo Finance
It is a short trading week for Wall Street. The equity markets will close early on Tuesday, December 24, and be closed all day on Wednesday, December 25, for the Christmas holiday. Two stocks in focus today are Honda (HMC) and Nissan (7201.T, NSANY), which officially announced they are in talks to merge. The companies expect the transaction to be completed in 2026. Other trending tickers on Yahoo Finance include Palantir Technologies (PLTR), Tilray Brands (TLRY), and Novo Nordisk (NVO).
Key guests include:
9:10 a.m. ET – Ben Emons, Fed Watch Advisors, Chief Investment Officer/Founder
10:25 a.m. ET – Eric Sheridan, Goldman Sachs Senior U.S. Internet Sector Equity Research Analyst
10:45 a.m. ET – Tony Bancroft, Gabelli Funds Portfolio Manager
11:20 a.m. ET – Steven Wieting, Citi Wealth Chief Investment Strategist and Chief Economist
11:30 a.m. ET – Michael Liersch, Wells Fargo Head of Advice and Planning
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