Toronto-based Brandes Investment Partners & Co. kicked of the 2013 Brandes Scholarship Program on Wednesday.
Now in its second year, the program offers ten $1,000 cash scholarships to Canadian students 16-22 years-old who demonstrate insights into financial literacy.
In 2012, the program received an overwhelming response, with more than 3,500 essay submissions across the country – with winners from Nova Scotia, Alberta, Ontario and British Columbia.
The program, which is accessible through www.brandesscholarship.ca, is designed to impart lifelong lessons in financial literacy that will help young Canadians as they move into their earning (and saving) years. It guides students through a quiz to discover three aspects of their money personality:
- Are they spenders or savers?
- Are they risk-takers or risk-avoiders?
- How interested are they in financial things?
Students will take away insights from the quiz and profiles that will arm them with important information designed to deliver greater understanding of and success in the world of investing.
In its inaugural year, the Brandes Scholarship Program won the 2012 IFIC Investor Education Award at the Morningstar Investment Awards. This award is given to an investment fund manager, dealer or integrated firm that has produced an exceptional financial educational initiative designed for investors, either directly or through their advisors.
“Canada’s youth need to be money-smart to prepare for their futures, and help carry tomorrow’s economy. This means they must be financially literate. The Brandes Scholarship Program provides tools and incentives for teens and young adults not only to learn more about finances and investments, but to implement sound financial strategies,” says Carol Lynde, president, Brandes Investment Partners & Co.
All entrants are required to complete a custom money personality quiz at www.brandesscholarship.ca to determine their fundamental attitudes and behaviours towards money and investing.
Once they complete the quiz, entrants are asked to write a 400- to 600- word essay based on what insights they gained from the quiz.
Ten winning essays will be selected, and each winner will receive a $1,000 scholarship towards tuition.
The closing date for submissions is July 2. Winners will be announced by August 15, after judging by a panel of qualified financial professionals.