July 29, 2020 – NEFE is launching this initiative through a partnership with the Association for Financial Counseling and Planning Education® (AFCPE®) to fully sponsor the training and credentialing of 100 new Accredited Financial Counselors® (AFC®), all of which will be people of color. AFCPE does important work to ensure the highest level of knowledge, skill and integrity of the personal finance profession by certifying, connecting and supporting diverse and inclusive professionals who positively impact financial security for all communities.
“For our society to move toward healing and recovery we need greater action over words. While we have provided scholarships in the past through our partnership with AFCPE, we are truly proud to offer opportunities specifically to people of color to pursue the financial counselor accreditation that will allow them to support people in their communities,” says Billy Hensley, Ph.D., president and CEO of NEFE. “Economic inequality contributes to social inequality. It’s important that our field acknowledge that and work together to build change in underserved communities and support people in need for the long haul.”
The AFC is the gold standard in financial counselor certification, focusing on comprehensive life-cycle financial education, while providing the knowledge and skills to assist clients in complex financial decision making. AFCs address immediate money challenges, help create plans to achieve unique goals and dreams, and build a sustainable foundation for long-term financial well-being.
“We are proud to partner with NEFE on this important initiative. As national nonprofit organizations, we share an unwavering commitment to ensure that all people have access to high-quality, equitable financial education—regardless of income or background,” says Rebecca Wiggins, executive director of AFCPE. “Through this partnership, we are taking an important step to close the racial wealth and asset divide by building capacity within the communities that have been disproportionately impacted by the COVID-19 pandemic and systemic oppression. Earning the AFC designation provides professionals with the highest standard of training available in the personal finance space—building capacity for professionals, their clients and the communities in which they serve.”
“One of the most important actions for nonprofits across the country right now is capacity building. I believe that NEFE—given our resources—has an obligation to support nonprofits that are leading the charge at uprooting systemic inequality through innovation and inclusion,” adds Hensley.
Read more about NEFE’s philanthropic response in Hensley’s op-ed Racism, Bias and Economic Inequality Impair the Financial Well-Being of Millions.
Read more about the AFC certification program.
About the Association for Financial Counseling and Planning Education (AFCPE)
AFCPE is the nationally recognized leader in financial counseling, coaching and education. Bringing together research, education and practice, we support the profession through comprehensive training, professional development and high-quality resources to help improve the economic well-being of individuals and families. For more information, visit www.afcpe.org.