I thought about all these conversations when I read Erin Voisin’s Barron’s article on the lack of interest in the financial profession by young people, and the efforts her firm has put into training up and coming financial planners, beginning with high school students. 

From the ground up, financial literacy is already hard to come by. We live in a society where talking about your money is gauche. And while high schools are beginning to incorporate some money management into their curriculum, kids are leaving school wondering how to pay their taxes, negotiate a health bill, or pay their rent. They’re not thinking about retirement, and few, depending on which study you read, are thinking about saving. Many want to make a difference, but feel disenfranchised from the promises of the American dream. A career in finance is nowhere on their radar.

According to Next Gen Personal Finance, only eight states guarantee and have fully implemented  a stand–alone personal finance course for high school students, with another 17 in the process of doing so. Their mission is that by 2030, all U.S. high schoolers will take at least one-semester course in personal finance before graduation. 

While we can and need to advocate for financial literacy education, every single financial firm can be a positive force within their own communities.

Your community likely has a number of organizations who can help you if you don’t know where to get started. Look to your school superintendents, local community colleges, banks, and others who have an interest in financial literacy for our youth. Consider internships and externships, beginning in high school and through college.

Also, work with your local college and economic development agency toward developing a pipeline of workers ready to move into the financial field. 

And consider how you approach conversations around finance and wealth management with our youth. 

My conversation with my younger friend shifted when I shared that financial planning can also divert money to charities and be a force for good. He had recently sat on a panel of Generation Z professionals who shared that “making a difference” was a big driver in their shopping choices and other life choices.

“Gen Zers not only expect change – they demand it. They are inheriting a set of complex problems – from climate change to inequality to racial injustice, to name but a few – and want to fix it,” according to Stanford University. “They want to work for a place that they believe is doing good in the world,” 

If your company can show how they make a difference in their community, (through deeds and not words), and they can show how a career in finance can facilitate change in people’s lives and in the broader society, then we will be able to attract the bright talent that is needed for the next generation of financial professionals.