Mapping the Terrain: Strategies for Building Effective University Financial Planning Programs

Abstract

This paper explores factors influencing the success of financial planning programs in higher education. It can be used as a guide in the development of a financial planning program. Using a mixed methods approach, the study combines a comprehensive survey of past and present CFP-Board registered program directors and in-depth qualitative insights from the authors' own experiences. The survey encompasses demographics, competition participation, job placement, and perceived administrative support. Key elements of a successful program such as curriculum design, student engagement activities, diversity initiatives, faculty recruitment, and institutional support are discussed. Experiential learning opportunities, outreach efforts for diverse talent, and networking events emerge as critical factors in a successful program. Insights from program directors emphasize the importance of ongoing curriculum development aligned with professional trends, interdisciplinary perspectives, and real-world case studies. Challenges include resource constraints and faculty staffing. The findings offer insights for program directors, faculty, students, administrators, and other professional designation programs to enhance program quality, diversity, and impact, serving the needs of students and the broader community. The findings provide an outline for other professional programs (i.e., CFA or CPA) in how to design, implement, and run a successful program.