While many college students are likely somewhat aware of the importance of financial planning in their adult lives, they likely donât realize it should start even before their college graduation.
Danny Harvey, a finance professor and financial planning program director at the university, is aiming to change those attitudes. Harvey will be hosting âMoney Matters,â a seminar highlighting the various key aspects of financial planning on Thursday, Nov. 8 in the MSC Ballroom. The event will include a panel discussion for students at 4:30 p.m., followed by a dinner for professionals, faculty and some students at 5:30 p.m. All are welcome to attend.
At the Money Matters event, attendees can hear about the opportunities that exist in financial planning and financial services, as well as how the financial planning program in PVAMUâs College of Business can train and prepare students for a successful career no matter their major. According to Harvey, the goal of the event is for stakeholders (students, faculty, administration, the community, financial institutions, entrepreneurs) to learn about the universityâs financial planning program and the financial education outreach that PVAMU offers, as well as to put individuals in a room together to network to match the value they bring to need that another has.
âEven if you don’t think the career path is for you, you need to understand who can help you grow your money,â Harvey said. âIt’s great when you work because you want to, not because you have to. That can only happen if you grow and protect your money. If you plan to make money after leaving PVAMU. you should attend.â
PVAMU is one of several historically black colleges and universities that are beginning to highlight the importance of financial planning, both as an important aspect of anyoneâs lifestyle, and as a field of study at the university, as it currently offers it as a minor. Harvey and PVAMU are working to make this a sought-after and accessible career choice for students of color in an effort to increase diversity in the field as it continues to grow nationally, as, according to a recent article published by financial-planning.com, a majority of financial advisors are male, white and over the age of 50, with less than 3.5 percent of certified financial planners being black or Latino. Meanwhile, their prospective clients seeking advice are more likely to be younger in age and non-white. Â Additionally, only 31 percent of financial planning students are minorities, according to a 2018 TD Ameritrade study that surveyed program directors at schools that offer this field of study.
Harvey chose to market PVAMUâs program as a minor in an effort to reach students from various academic backgrounds rather than zeroing in on business students.
âA major doesnât say what your career is. If you had a minor with that, whether youâre studying education, social work, you can set yourself to be a great planner,â he told financialplanning.com.
Harvey advises any students interested in having a lasting impact, having a flexible schedule, being their own boss, helping people, and making a great income to attend the event, regardless of his or her major.
âYou are in school to improve your life, finances will play a big part in that improvement,â Harvey said. âThis event/program will help you both put money in your pocket and help you manage the money in your pocket.â
For more information about the âMoney Mattersâ event and to inquire about attending, please contact Harvey directly at [email protected]
By Emilia Benton
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