|
WASHINGTON D.C. (January 15, 2008) - Frequent military
relocations can take a toll on spouses' careers unless they have a
portable skill, which is exactly what one foundation has set out to
provide them.
The Financial Industry Regulatory Authority Investor Education
Foundation has partnered with the Association for Financial
Counseling and Planning Education to offer military spouses a
chance to earn the "accredited financial counselor" credential.
The credential gives spouses the ability to work in financial
counseling, nationwide, either on or off military installations,
said Gerri Walsh, associate vice president of authority's office of
investor education. "It is a well regarded, nationally known
credential," she said, "and it could be such a benefit."
The Military Spouse Fellowship Program, as it is known, is open
to spouses of active duty servicemembers, reservists or retirees,
with a couple of exceptions.
"We have an application that asks you to describe your previous
counseling experience and your previous experience in finance,"
Walsh said. "We do checks to see whether or not people have had
run-ins with regulators if they were in the industry before."
Someone who has had problems with a regulator would not be
eligible, she said. The same is true of anyone who holds a
securities license.
Since the program was launched in 2006, more than 4,800
applications have been fielded for the no-cost, 18-month program. A
rigorous selection process, however, has narrowed that field down
to just 200 fellows each year.
Representatives from the two partnering organizations, along
with those from the National Military Family Association, another
partner in the program, carefully review each application. Each
applicant is evaluated on several points, including the drive to
succeed, Walsh said.
"Then (we consider) how realistic is it that they'll be able to
earn the credential?" she said. "We don't want to put people in
this situation where they've gotten this fellowship but then
they've got no real good way to earn the practicum hours that will
allow them to get it."
Time spent working in financial counseling settings equates to
practical experience, or the practicum hours to which Walsh
referred. Fellows with experience get credit toward this portion of
the program. The more experience, the fewer practicum hours are
needed.
In fact, of the 2,000 practicum hours required to complete the
program, most spouses have some credit and only end up needing to
complete another 400 to 800 hours, Walsh said.
"Only single digit percentages - 6, 7, 8 percent - are required
to go for the full 2,000," she said, adding that experience is not
a significant determining factor in the selection process.
So far, 39 fellows in the 2006 class have completed the entire
program, including the Web-based seminars and the practicum
requirements. That group is scheduled to finish in August, and
several more fellows are expected to earn their credential, Walsh
said.
National Military Family Association will start accepting
applications for the 2008 Military Spouse Fellowship Program in
late March with a deadline of late Aril, Walsh said.
The new slate of fellows is scheduled to be announced in late
June or early July.
Editor's Note: To find out about more individuals,
groups and organizations that are helping support the troops,
visit www.AmericaSupportsYou.mil. America
Supports You directly connects military members to the support of
the America people and offers a tool to the general public in their
quest to find meaningful ways to support the military
community.
|
