A 2025 McKinsey & Company study found that there is a shortage of financial advisors that will reach 100,000 within ten years—equivalent to one-third of the total advisors needed to support households looking for holistic financial advice. This trend will impact the wealth management industry’s ability to meet the rising demand for a full spectrum of planning services.¹

A recent eMoney survey of financial planning experts aligns with those findings in recognizing the potential of a talent shortage. What they added, however, is that technology will help narrow the anticipated gap by creating efficiencies that allow advisors to serve a greater number of clients.²

eMoney has long recognized that education is vital to the continued growth of the financial planning profession. Through our University Program—celebrating its 10th anniversary—students pursuing the financial planning profession are provided with access to eMoney and an opportunity to earn a certification that represents their skills and readiness to step into the industry.

How the University Program Works

By partnering with colleges, universities, and next-generation industry initiatives across the country, eMoney supports classroom learning and online training that provides learners with hands-on experience using the technology advisors utilize daily to transform the financial planning experience. eMoney access and training are provided free of charge, and learners can earn the eMoney Fundamental Certification through a course that takes approximately 12 hours to complete.

Since its launch in 2015:

• 6,400 individuals have received the eMoney Fundamental Certification
• More than 160 universities are participating across 40 states
• 30 new universities were added over the last year

I recently had the opportunity to speak with Gregory Renn, CFP^®, ChFP, Faculty Director of the Wealth Management Workshop at the Kelley School of Business at Indiana University. Greg shared his experience with the eMoney University Program and the value it has brought to his students.

A CFP Board Registered Program at Indiana University

Two years ago, Greg noticed a disconnect between classroom learning and industry demands. Students had been working with the same static courses featuring identical financial planning cases for years. The program was small—just 20 students—and while graduates were finding positions, they weren’t commanding the premium salaries that the Kelley School’s reputation typically ensures.

“The industry feedback indicated our previous approach wasn’t quite good enough,” Greg explained. Students would extract data and build presentations, but they lacked practical application skills. The old method failed to develop the soft skills, emotional intelligence, and situational awareness that financial planners need when sitting across from actual clients.

The adoption of eMoney changed everything. “Now students are literally and physically interacting with the application,” said Greg. This hands-on experience has transformed not just how students learn, but also their career trajectories. The program will soon reach its maximum capacity of 180 students, structured as 60 students each at the sophomore, junior, and senior levels—a testament to both student interest and industry demand for graduates with these skills.

Transforming Student Outcomes Through Technology

When Greg began integrating eMoney into his curriculum, he could not have anticipated the dramatic impact it would have on student outcomes. What started as an effort to modernize financial planning education has evolved into a program that consistently delivers exceptional results for graduates.

The numbers tell a compelling story. Students graduating from the eMoney University Program now command starting salaries $6,000 to $15,000 higher than the average Kelley finance graduate. This salary premium is particularly impressive considering Kelley’s standing as a top-eight business program nationally, where finance graduates already enjoy competitive compensation packages.

Perhaps even more remarkable is the program’s perfect placement record. “We’ve achieved 100 percent internship placement and 100 percent full-time job placement,” Greg noted. This success has fueled explosive growth, with program enrollment jumping from just 20 students two years ago to a maximum capacity of 180 students by this fall.

The program’s impact extends beyond initial job placement. Firms consistently report that Kelley graduates arrive better prepared than their peers. “Students are a year ahead at minimum than other students they’re hiring,” according to feedback Greg receives from employers. This advanced preparation translates to premium opportunities, with graduates being placed on top teams and receiving more challenging assignments or clients from day one.

The program’s effectiveness is further validated by its perfect CFP^® exam pass rate. “No student has failed the CFP^® exam within six months of graduating from the program,” Greg shared. This achievement reflects the comprehensive nature of the curriculum, which now requires all students to complete CFP^® coursework that was previously optional.

Perhaps most significantly, the eMoney-powered program is accelerating career trajectories. Graduates aren’t just landing better jobs—they’re advancing faster once hired. The combination of technical proficiency, client interaction skills, and industry-standard certification creates professionals who can contribute meaningfully from their first day on the job.

Developing Both Technical Skills and Emotional Intelligence

Financial planning education has historically focused on technical knowledge—mastering calculations, understanding tax codes, and memorizing investment principles. While these hard skills remain essential, Greg recognized that his students needed more to excel in the industry. The integration of eMoney into the curriculum has transformed how students develop both technical expertise and emotional intelligence simultaneously.

“Before eMoney, we were building slide decks and giving presentations without real-world application,” Greg explained. “We were missing the soft skills and emotional intelligence components that are crucial when sitting across from clients.”

The platform’s intuitive interface allows students to move beyond basic data entry and focus on more meaningful client interactions. Rather than spending hours manually creating spreadsheets, students can quickly generate sophisticated financial projections and then dedicate their energy to interpreting those results in ways that resonate with clients.

This technological efficiency creates space in the curriculum for teaching the art of discovery conversations. Students learn to ask probing questions about estate planning status, family dynamics, and personal values—essential inquiries that might otherwise be overlooked in a purely technical approach. They practice guiding these sensitive discussions while simultaneously using eMoney to show clients the impact of different decisions in real time.

“Now they are literally and physically interacting with the application, touching the keyboard while maintaining a professional conversation,” notes Greg. “This mirrors exactly what they’ll be doing in their careers.”

By graduation, Kelley students emerge with not just technical proficiency but the emotional intelligence to navigate the human aspects of financial planning—explaining complex concepts in accessible terms, responding to client anxieties, and building trust through empathetic communication. It’s this combination of skills that employers consistently cite when praising the program’s graduates as being well ahead of others they’re hiring.

Implementation Advice for Educators

For professors considering a similar transformation in their financial planning programs, Greg offers clear guidance based on his successful implementation at Indiana University’s Kelley School of Business.

“One hundred percent, I would start with a financial planning application,” Greg emphasized. Rather than attempting to teach financial planning concepts in the abstract, having students work directly with industry-standard software creates an immediate connection to real-world practice. This hands-on approach bridges the gap between academic concepts and professional application.

Practice depth over breadth when introducing technology. “Start with a couple of scenarios and just focus on those until you get confident enough to expand,” Greg advised. This focused repetition builds both student and faculty confidence before expanding to more diverse planning situations.

Creating a supportive learning environment while challenging students to grow requires careful balance. The mentor-mentee buddy system implemented at Kelley pairs more experienced students with newcomers, providing peer support during the certification process. Meanwhile, the professor dashboard within the eMoney Fundamental Certification provides the ability to check on how everybody’s doing, allowing faculty to identify struggling students quickly and provide targeted assistance.

Perhaps most importantly, Greg acknowledged that using technology is essential to the program’s success: “I could not do this without eMoney and the technology enablement.” The software’s intuitive interface provides structure while allowing instructors to encourage students to develop critical thinking skills.

The Future of Financial Planning Education

The remarkable success of Indiana University’s eMoney-powered financial planning program has set the stage for significant growth and evolution. The implications for other financial planning programs nationwide are profound. Programs that fail to integrate real-world planning technology risk producing graduates who require extensive on-the-job training before they can meaningfully contribute to their employers.

Perhaps most compelling is the long-term career impact for graduates of this innovative program. These students aren’t just securing better starting positions—they’re fundamentally altering their career trajectories. By entering the workforce with practical experience in industry-standard software, certified credentials, and developed soft skills, they’re bypassing the traditional early-career learning curve. This head start compounds over time, potentially accelerating advancement opportunities and expanding career options throughout their professional lives.

“The eMoney University Program certification creates immediate connection points for students who are entering the workforce,” Greg explains. “When students mention they’re certified, potential employers immediately recognize the value. It’s like speaking a shared language that bridges the academic-professional divide.”

Learn more about the eMoney University Program.

Sources:

1 The Looming Advisor Shortage in US Wealth Management. McKinsey & Company. February 2025.

2 “Tomorrow’s Planning, Today”, eMoney, June 2025.

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