Rowan University announces $10M gift to create School of Financial Plannning

Rowan University announced a landmark $10 million commitment by Edelman Financial Engines (EFE) to establish the School of Financial Planning. Designed to address the nation’s increasing shortage of qualified financial planning professionals, the new school will be distinguished by curriculum at undergraduate and graduate levels. Rohrer College of Business Executive-in-Residence and University Distinguished Lecturer Ric Edelman will serve as founding head of the school.  

The School of Financial Planning will be created within William G. Rohrer College of Business as part of the accredited business education program. 

“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,” Rowan University President Ali Houshmand 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.” 

“Today, there are more certified financial planners over age 70 than under age 30. And 38 percent of financial advisors will themselves retire within the next decade,” Ric Edelman said. “In fact, McKinsey research says we’ll soon have 100,000 fewer advisors than we need to meet the needs of American families. This adds up to a big challenge in the financial services industry’s ability to meet the needs of American families.”

Yet fewer than 200 U.S. colleges offer financial planning degrees—compared with nearly 1,500 that offer business degrees.

“Expanding access to high-quality financial advice starts with investing in the people who deliver it,” said Ralph Haberli, CEO and President of Edelman Financial Engines. “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.” 

Shaping the future of the financial planning profession

Ric Edelman brings four decades of leadership in the financial planning field. Along with his wife Jean, who serves as a trustee of Rowan University, Ric 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,” said Edelman. “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.”

Set to offer classes in fall 2026, the school intends to create professionals who possess the technical and communication skills needed to succeed as financial planners. The school will also build partnerships within the financial services industry, creating professional development, research, conferences and networking opportunities for students.  

“We are forming a first-of-its-kind East Coast financial education ecosystem,” said Matthew Sarkees, dean of Rohrer College of Business. “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, which sets our new school apart nationally.”