Wealth inequality and the next-generation financial planners

48 Pages Posted: 26 Aug 2022

Date Written: August 18, 2022


Fry and Kochhar (2014) show that the median wealth of American upper-income families is 7 (70) times that of the median- (low-) income families. To reduce this wealth inequality, the affordable financial services made possible by FinTech should be accessible by all the families. Our universities could train our next-generation financial planners who understand both finance and FinTech. In this paper, we discuss such a finance concentration including its underlying rationality, course sequence, and several tentative syllabi. The current finance programs, such as Quantitative Finance, MSF (Master of Science in Finance), Master of Financial Engineering, and FinTech could offer such a concentration/degree since it will greatly benefit our students by combining theories, programming, data manipulation, and real-world applications. Several policy implications are suggested as well. As an illustration, two dozen programs written in Python, R and SQL are included.

Keywords: Wealth inequality, financial planners, FinTech, robo-advising, lower-income households, Python, quantitative finance, and MSF

JEL Classification: G00, G19, G14

Suggested Citation

Yan, Yuxing, Wealth inequality and the next-generation financial planners (August 18, 2022). Available at SSRN: https://ssrn.com/abstract=4194070 or http://dx.doi.org/10.2139/ssrn.4194070

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
PlumX Metrics