TD Ameritrade Institutional rolled out a free internship and job search site on Thursday to help RIA firms attract and groom the next generation of advisors.
On the new site, the RIA NextGen Career Exchange, students can post resumes, as well as search job openings at RIA firms. Advisors can also search for job opportunities or search for candidates for job openings. It's a free service.
“As an industry, we need to do more to promote diversity and bring younger people into the mix,” Tom Nally, president of TD Ameritrade Institutional, said in a statement. “By creating a job posting hub for RIAs we can more efficiently connect students with career opportunities.”
The custodian also announced Thursday it was expanding its Next Generation Financial Planning Scholarship & Grant program. In the past, the firm awarded 10 $5,000 scholarships to students pursuing an undergraduate degree in financial planning.
This year, TD Ameritrade will add two additional scholarships designated specifically for women and minority students in financial planning programs.
Nally said that by expanding the scholarship program, TD Ameritrade can help identify talented young people who might not otherwise consider a career in financial services.
TD Ameritrade’s website comes just weeks after the CFP Board rolled its own career and internship site in partnership with Fidelity Investments.
Those seeking internships and careers through the CFP Board’s site can search for free, but employers are charged fees starting at $350 for a single 30-day posting.