Together we can

Students will be recommended by their college or university for this scholarship program. Criteria will include grade point average, background check, extra curricular activities, interest in entering this field of study, and other characteristics. 

The program and curriculum will be designed to provide coursework and modular training in pre-course work to pass the general securities exam as well as their Certified Financial Planner Designation. In addition to an advanced understanding of the fundamentals of financial planning A clear understanding of portfolio management. Behavioral training will involve coursework on client development, organization, obtaining referrals, working on a team, professionalism and business conduct. The program (outside of the required college courses will be taught by Wall Street Executives and monitored by an expert in curriculum design. 

1. How does the training program work?

Program modules include a behavioral cultural component to ensure that the program participants are ready to "hit the ground running". Other program modules content include:  securities-based training, product knowledge, wealth management strategies and sales training. Each module will be followed by a Q and A section of Financial Advisors or Industry firm experts.

2. What is the entity responsible for the overall management of the Program?

Supernova Scholars Program will be funded as a non-profit 501c3 entity.

3. What certifications will the participants receive?

Program participants will receive a CFP designation within 3 months of graduation and other licenses as required and securities licenses as required. 

4. What additional training will be required?

Participants will go through the firm training program and licensing to comply with Industry standards and regulations.

5. How will the program be delivered among the universities?

The modular program will be delivered digitally and by the universities for college credit and meet high standards set by both the firms and the universities.

6. Describe the work study program.

The firms will compensate the students during the summer work-study program. students will learn about the role and responsibilities working in a branch office, the role of the financial advisor, attend meetings and events, as well as any work designed to improve their success as wealth management advisors.  Firms will have flexibility with the work study program; however, minimal standards of excellence must be met along with basic requirements.

7. Tell me about the mentors.

Students, if possible, will be mentored by the teams they ultimately work for and also have a mentor within their respective organization who is a successful African American. Supernova will provide training to train the mentor/coaches.

8. How will you develop the teams the participants join?

Supernova will provide team training for each team that elects to work with a scholar.

9. Will scholars receive a stipend?

A scholar will receive a stipend each year parceled out based on maintaining grade point average and adherence to program guidelines. Payments will be sent directly to the universities to be parceled out to the students meeting the standards set forth during the program.

10. Will there be a central point of contact?

Supernova will establish an office with an executive director who will be responsible for managing the interface between the firms and the universities. The executive director will provide quarterly performance reports to the firms and universities participating in the program.

11. Please share more about the structure of the non-profit.

The Supernova Scholars advisory board will be responsible for program excellence and oversight. The operating committee will be responsible for executing the trilateral strategy and overall program excellence.

12. What will the training consist of? 

The program modules will be taught from representatives of the investment firms, recorded, and the professors at the various participating universities. The program will be delivered virtually and/ or digitally.

13. How much of the money raised will go to the students and the administering of the program? 

While the pro-forma is being developed it is estimated that 80% to 85% of the money raised will go toward the program, training, and development of the students. The balance will go toward the cost of administering the program. 

14. Is there a next phase or future state of the program?

Yes. We anticipate expanding the program to African Americans at nontraditional schools. We call this the at-large phase of the program. The final phase will look at junior military officers separating from the military. The core program, however, will focus on the historically black colleges and universities.