Rowan University is establishing a School of Financial Planning — and it is doing so with a landmark $10 million commitment by Edelman Financial Engines, the school announced today.
The school will be designed to address the nation’s increasing shortage of qualified financial planning professionals. It will be distinguished by curriculum at undergraduate and graduate levels, with an emphasis on preparing students to attain the Certified Financial Planner professional designation.
The school also will address a serious societal shortfall.
Millions of Americans are approaching retirement — but so are many financial advisors. As a result, the industry is projected to face a shortage of 100,000 advisors within the next decade.
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Despite this, fewer than 200 U.S. colleges offer financial planning degrees — compared with nearly 1,500 offering business degrees.
Rowan University President Ali Houshmand said he was glad the school is filling such a need.
“Financial education is a logical and important part of our public service mission as a state research institution — to educate people and equip them to contribute to their communities and professions,” he said.
“Having Edelman Financial Engines as our lead partner and Ric Edelman heading the school allows us to develop a world-class program, enabling us to start delivering education far more quickly and efficiently than otherwise possible, thanks to their decades of experience and depth of expertise.”
Set to offer classes as soon as fall 2026, the School of Financial Planning intends to create professionals who possess the technical and communication skills needed to succeed as financial planners. The school also will build partnerships within the financial services industry, creating professional development, research, conferences and networking opportunities for students.
The school will be created within William G. Rohrer College of Business as part of the accredited business education program. The school is developing curricula to offer a bachelor’s degree major and minor, as well as a master’s degree, certificate programs and executive education programs.
Ralph Haberli, CEO and President of Edelman Financial Engines, said the firm is eager to do its part.
“Expanding access to high-quality financial advice starts with investing in the people who deliver it,” he said. “We have championed greater access to financial education, literacy, and guidance for four decades, and are committed to further advancing this mission by building a strong and diverse pipeline of talent prepared to guide investors at every stage of their financial journey.
Rohrer College of Business Executive-in-Residence and University Distinguished Lecturer Ric Edelman will serve as founding head of the school.
Edelman brings four decades of leadership in the financial planning field.
Along with his wife Jean, who serves as a trustee of Rowan University, Edelman founded EFE in 1986. He was named the nation’s #1 Independent Financial Advisor three times by Barron’s, is in its Hall of Fame, and is recipient of three lifetime achievement awards.
As founding head of the school, he will collaborate with Rohrer College leadership and faculty to develop the curricula, as well as teach in its programs, all based at Business Hall on the Glassboro campus.
“Financial planning is one of the most meaningful careers,” he said. “And yet, too few college students are entering the field. Through the new Rowan University School of Financial Planning, we intend to set the benchmark for higher education and produce the industry’s largest pipeline of CFP-ready professionals prepared to help families across the country.”
Matthew Sarkees, dean of Rohrer College of Business, is thrilled.
“We are forming a first-of-its-kind East Coast financial education ecosystem,” he said. “The significance of starting this school with Ric and Jean Edelman as expert, passionate advocates for financial education can’t be overstated. For decades, the Edelmans have shared their experience—personal and professional—to encourage and help people improve their lives. They both bring great enthusiasm to this new endeavor, and we’re honored by their commitment, and that of their professional colleagues, that sets our new school apart nationally.”
Rohrer College of Business is a vital part of the growth that continues throughout Rowan, with a 26 percent increase in business student enrollment in just the last three years. Princeton Review named the college among The Best 295 Business Schools out of more than 1,800 programs nationwide and ranked the Rohrer entrepreneurship program No. 39 nationally. The college further distinguishes itself by having earned AACSB and ABET accreditation, a standard fewer than one percent of the world’s 13,000 business programs have attained.
