Envestnet, Inc. and Wheelhouse Analytics have expanded their Envestnet Institute On Campus program with the participation of seven additional universities and new offerings, such as a Résumé and Internship Hub, complimentary subscriptions to FundFire, and the new "Women in Wealth Management" initiative.
The fall semester, commencing in late September, will mark the fourth active semester of the Envestnet Institute On Campus (EIOC), which seeks to train and position college students to launch careers in the wealth management industry.
EIOC has trained more than 300 students, and is now offered at 17 universities, an increase of nearly 100% since the previous semester. Each institution receives 25 scholarships to award to its students every semester. These scholarships, provided by prominent industry companies and individuals, enable EIOC participation to be free of charge for students as well as universities.
"As we continue to enhance our collaboration with prominent companies and professionals in the wealth management universe, as well as educational institutions, we will make it possible for more young people to obtain the expertise and tools they need to successfully forge long careers in this industry," said Ron Fiske, Managing Director of Events & Education at Envestnet and EIOC Board Member.
"Our goal is to train more than 5,000 students from a broad range of colleges and universities over the next five years, and we feel we are on track to do so while also helping to address the industry's longstanding diversity challenges."
This semester, EIOC will offer access to a Résumé and Internship Hub powered by DAKdirect for all students who complete the program. The hub places students' résumés directly in front of managers who are looking for interns and new employees.
"The Résumé and Internship Hub makes it possible for students to directly transition from higher education to the workplace," said Steven Clark, President of DAK Associates, the company behind DAKdirect.
"DAKdirect has a track record of placing some of the industry's top executives, and we are eager to join this program's efforts to help place students in their first internships and jobs, which will launch their financial services careers."
EIOC is available through Envestnet Institute, Envestnet's unified education portal for empowering registered financial professionals, and offers seven mandatory classes in addition to optional white papers, webinars, and podcasts.
All content is approved by the Money Management Institute (MMI), and the classes are taught at each student's own pace via an e-learning platform developed and administered by Wheelhouse Analytics. EIOC is actively seeking new sponsors to help maintain the scholarship aspect of the program. To receive more information about program participation, email firstname.lastname@example.org or email@example.com.
In addition, FundFire, a leading publication in the wealth management industry, is offering all EIOC participants a complimentary four-month subscription. Access to FundFire will assist students as they prepare for interviews and transition into jobs by keeping them abreast of industry news.
EIOC also continues to expand its "Women in Wealth Management" initiative led by Cheryl Nash, President of Investment Services at Fiserv and EIOC Board Member. The initiative consists of live-streaming webinars and learning modules providing guidance for women who wish to begin careers in the wealth management industry.
The percentage of women participants in EIOC is roughly 30%, a figure the program is actively working to improve. Other prominent women in the wealth management sector are joining the initiative to assist Ms. Nash with this mission.
"Combining the broad resources of Envestnet, Fiserv, MMI, Wheelhouse, and now DAK Associates and FundFire has allowed us to round out our offering to students," said Jim Seuffert, Senior Partner and Student Advocate at Wheelhouse Analytics and EIOC Board Member.
"Our mission is to give participants a leg up on finding coveted internships and jobs. The enhancements to our program enable us to directly connect students with firms seeking to fill openings, and provide the practical knowledge they need to win, and fully optimize, these employment opportunities."