Friday, December 16, 2005
Nancy Condon (202) 728-8379
Sarah Bohn (202) 728-8988
NASD Foundation Funds Educational Programs for Young Adult Investors
Washington, D.C. — In an effort to help first-time investors set financial goals and plan for retirement, the NASD Investor Education Foundation has awarded over $1.3 million to seven organizations for educational programs and research projects aimed at improving and expanding educational resources for young adults about to enter the workforce.
Studies show that most college and high school students lack the financial knowledge necessary for a smooth entry into investment decision-making. In NASD's national 2003 Investor Survey, young workers were identified as one segment of the investing public with a weak understanding of financial matters. Less than a quarter of investors between the ages of 21 and 29 scored a passing grade in investor literacy.
"Good financial habits start early, so it is critical that young adults have access to accurate and reliable information about saving and investing," said Robert R. Glauber, Chairman & CEO of NASD, who also serves as Chairman of the NASD Investor Education Foundation. "We are confident the research projects and educational programs we have funded will help empower the next generation of investors to effectively manage their financial futures."
The projects funded by the awards announced today are:
The NASD Investor Education Foundation, established in 2003, supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of financial planning. The Foundation has awarded more than $2.4 million in total to organizations for educational programs and research projects targeting the underserved segments of the population. For details about grant programs and other new initiatives of the Foundation, visit www.nasdfoundation.org.
NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation. NASD believes that understanding should precede investing - and that education is often the best form of investor protection. NASD's broad range of investor education programs include Investor Alerts, brochures and online resource guides on such critical topics as mutual fund class shares and 401(k) and college savings plans. This information is distributed through its Web site, www.nasd.com, printed materials and Investor Forums.