By Megan Sayles, AFRO Business Writer,
Report for America Corps Member,
msayles@afro.com
J.P. Morgan Wealth Management and the United Negro College Fund (UNCF) are currently accepting applications for their 2022 J.P. Morgan Wealth Management Scholarship Program, which provides financial assistance to students at historically Black colleges and universities (HBCUs). This year, the number of eligible HBCUs has expanded from 11 to 17.
The deadline for applications is March 30, and UNCF will be awarding and administering the scholarships.
“J.P. Morgan Wealth Management is committed to addressing the lack of diverse representation in the wealth management industry. Our HBCU scholarship program is one pillar of our broader strategy to increase representation and support Black careers over time,” said Christopher Thompson, head of diverse talent experience for the consumer and community bank at JPMorgan Chase. “The program invests in students early on and helps create a path for their long-term career success. We believe this program can help bring in students who have been historically excluded from the industry and help strengthen our pipeline for diverse talent.”
The J.P. Morgan Wealth Management Scholarship Program, which was established in 2021, offers scholarship and mentorship opportunities to HBCU students to help them start a financial advisor career. It is a part of JPMorgan Chase’s broader $30 billion commitment to advance racial equity.
When chosen for the scholarship, students will initially receive $2,000, and they will have the chance to take part in two JPMorgan Chase paid internships programs. The first will run during the summer between their sophomore and junior year, and the second will run the following summer.
If students complete both the Advancing Black Pathways Fellowship Program and the Financial Advisor Development Track Summer Analyst Program, they will receive an additional $5,000 during their senior year.
“Becoming a financial advisor isn’t something you typically hear at a young age, we want to help change that in our community. Many of them don’t know what a financial advisor is, or that it’s even a possible career path for them,” said Thompson. “We believe this program can help create awareness around a career as a financial advisor and expand access and education to students who otherwise wouldn’t have considered this as a potential career.”
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