Mar 29, 2023

The LeCount R. Davis, CFP® Scholarship

We’re excited to share a valuable opportunity for Black or African American students who are pursuing the CFP® certification: the LeCount R. Davis, CFP® Scholarship. The financial planning profession has historically lacked diversity, with a disproportionate number of professionals being white and male. The LeCount R. Davis, CFP® Scholarship is one of many initiatives aimed at increasing diversity and inclusivity in the profession. By providing financial assistance to qualified Black or African American students, the scholarship helps to create a more diverse and sustainable profession that better reflects the needs of clients from diverse backgrounds and creates a culture of belonging.

The scholarship is named after LeCount R. Davis, CFP®, who was the first Black person to earn the CFP® certification in 1978. Davis has a successful career that has spanned over 30 years and his client portfolio includes national organizations, international labor unions, pension funds, individuals, small businesses, religious organizations, and investment clubs (among others). He also founded the Association of African American Financial Advisors (AAAA) in 2001, which aims to expand the community of successful Black financial professionals.

As of March 1st 2023, only 1.9% of Certified Financial Planners identified as Black or African American. 

The LeCount R. Davis scholarship is administered by the CFP® Board Center for Financial Planning, which is dedicated to advancing the financial planning profession by promoting diversity, inclusion, and sustainability. The scholarship is an endowed scholarship, which means that it is funded by donations from firms like ours, and will continue to provide financial assistance to qualified students in perpetuity.

To be eligible for the scholarship, applicants must be Black or African American, enrolled in a CFP® Board Registered Program, and have completed at least one course in the program. They must also have a GPA of 3.0 or higher and demonstrate financial need or merit. Applicants must submit an essay explaining why they are pursuing a career in financial planning, how they plan to use their education to promote diversity in the profession, and how they plan to contribute to the financial well-being of their clients.

The scholarship is awarded based on a number of factors, including academic achievement, financial need, and the applicant’s commitment to promoting diversity in the financial planning profession. The scholarship provides a valuable opportunity for

Black or African American students who are pursuing the CFP® certification and who may face financial barriers to completing their education.

In the words of Davis,

In my search to find a career and to help others while so doing, I had to take a step back and realize my blessings, family and those who helped me along my journey. If I wanted to achieve my mission, I had to first reach the underserved population and help guide them in their financial journey. It is my belief in this mission that greatly influenced me to choose my financial planning career… My experiences and employment history could be repeated by many people who will not choose to pursue a career in the financial services industry but could benefit from the advantages of financial planning in caring for their families and community. My mission includes inspiring, motivating and preparing the next generation of financial planners, who truly care, to help others while pursuing a successful career.

First Pacific Financial is proud to sponsor this scholarship in 2023 and be a part of increasing diversity in financial planning. If you’d like to learn more about LeCount R. Davis and his work, check out his autobiography, “One Step Back – Two Steps Forward: The Dance of My Ultimate Plan”.