Lindner alum invests in next generation of financial planners
Recent gift aims to support CFA and CFP certifications for finance students
Arun Murthy, BBA ’95, recognizing a deficit of well-trained, new professionals in the financial planning industry, endeavors to create a pipeline of talent emerging from the Carl H. Lindner College of Business’ Department of Finance, Real Estate, and Insurance and Risk Management with his recent contribution.
The UC Foundation trustee's $250,000 gift will be spread over five years to help eliminate barriers associated with students’ ability to earn the Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP) designations. This includes offsetting exam fees and providing preparation materials. Funds also will be made available to faculty to help support students in their journeys to earning these certifications.
“With this gift, we hope to elevate the level of awareness among our students, who don't always know how to go about earning these certifications and what they can do for their future careers,” said Michael Ferguson, PhD, department head and associate professor of finance. “We want to be able to help students sort out what certification is right for them and to get them on the right track to pursue that and excel in their careers.”
Arun Murthy, BBA '95. Photo/Arun Murthy
Students will receive support not only from the department but also from the Johnson Investment Institute, who will have equal access to the funds.
“This generous gift from Mr. Murthy allows us to not only advocate for these certifications, but to also help students with the costs associated with preparation, study materials and exam fees,” said Steve Slezak, PhD, director of the Johnson Investment Institute and associate professor of finance. “And it allows us to put on programming, such as study groups and content reviews, to help students focus and be prepared to succeed with these exams.”
Murthy has seen firsthand what these credentials can do for young professionals.
“Allowing students to start this process while still in college can help give them the opportunity to advance into a role that otherwise would have taken two to three years after graduation to grow into,” said Murthy. “But if they can meet that education requirement, they can potentially sit for the exam earlier. And they can even get ahead on the experience requirement by taking advantage of the co-op program to advance even sooner.”
I think something like this elevates UC and Lindner’s profile in the industry. I’m very keen to make sure that in the region, and even nationally, that we are a standout among other schools and, quite frankly, do it better than what they’re doing.
Arun Murthy, BBA '95.
Through his more than 30 years in the financial industry, Murthy, currently a relationship manager with TD Ameritrade and a CFP himself, has witnessed significant changes. And recently a gap has emerged in the industry as fewer students are entering the workforce with the required certifications to take on these roles.
“With the rapid growth of the wealth management space, and specifically the registered investment advisers’ space, I’ve noticed that universities have fallen behind in their education of what a CFA and CFP are and how they can best prepare students for these certifications,” said Murthy. “One of the things I wanted to do with this donation was get the process toward these designations started a little earlier and get Lindner students on this pathway.”
But Murthy’s dreams for the program extend even further, hoping others join him in transforming Lindner into a premier institution for financial planning talent.
“I think something like this elevates UC and Lindner’s profile in the industry. Now when employers look for students with this education and level of knowledge, they can say ‘Hey, UC has that, and they can help support me and my company,’” Murthy said. “I’m very keen to make sure that in the region, and even nationally, that we are a standout among other schools and, quite frankly, do it better than what they’re doing.”
Featured image at top: Students utilize the Johnson Investment Counsel Investment Lab to practice using industry tools in a simulated trading floor environment. Photo/Suzanne Buzek
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