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Pacific Life Foundation Makes $1 Million Transformational Contribution to the American College Center for Economic Empowerment and Equality
Investment to foster measurable impact to advance diversity in the financial services industry and increase economic opportunities for underrepresented communities
KING OF PRUSSIA, PA – November 18, 2021 – The American College of Financial Services is proud to announce a contribution of $1 million by the Pacific Life Foundation for the American College Center for Economic Empowerment and Equality. Announced at the 15th annual Conference for African American Financial Professionals (CAAFP), this significant gift is one of the first The College received in support and celebration of our commitment to close the racial wealth gap with lasting, collective, community-focused solutions. For its leadership, the Pacific Life Foundation will be recognized as a Founder’s Circle donor.
“The critical support of the Pacific Life Foundation and other industry leaders will allow the Center for Economic Empowerment and Equality to collaborate with those seeking to change our history’s narrative around economic equity,” said George Nichols III, president and CEO of The American College of Financial Services. “We are tremendously grateful to the Pacific Life Foundation for this generous investment toward measurable impact in our collective efforts to partner with underserved communities and promote economic justice.”
This important seed grant from the Pacific Life Foundation will help with the expansion of the Center’s Four Steps Forward initiative and programs to reach underserved communities and increase their opportunities for economic mobility. The funding will help the Center educate and empower Black financial professionals as they start and grow their careers. The Pacific Life Foundation’s commitment will help to expand the Center’s financial education programs for Black women, bolster the Center’s scholarship programs for Historic Black Colleges and Universities (HBCUs) and early-career financial professionals, and implement a new approach to study groups for Black financial professionals.
“Addressing the racial wealth gap and creating economic mobility starts with uplifting underserved communities and committing to lasting community-focused solutions,” said Jim Morris, chairman, president and CEO, Pacific Life and chairman of the Pacific Life Foundation. “The education and empowerment of Black financial professionals and the Black community is of paramount importance to the financial services industry’s future and growth. We’re proud to partner with the American College Center for Economic Empowerment and Equality in support of its efforts as it writes a new narrative around economic equity.”
Pacific Life and the Pacific Life Foundation are committed to ensuring an inclusive workplace and strengthening the communities where its employees live and work. The Pacific Life Foundation has a long history of focusing its giving on uplifting communities and investing in programs and organizations whose specific mission is to empower and provide stability to underrepresented individuals and families, with more than $2 million in annual funding and support toward these efforts.
Learn more about the Center for Economic Empowerment and Equality and our committed partners at Equality.TheAmericanCollege.edu.
ABOUT THE AMERICAN COLLEGE OF FINANCIAL SERVICES
The American College of Financial Services was founded in 1927 and is the nation’s largest nonprofit educational institution devoted to financial services. Holding the highest level of academic accreditation, The College has educated one in five financial advisors across the United States and offers two master’s degrees in management and financial services, along with prestigious financial planning designations such as the Retirement Income Certified Professional® (RICP®), Chartered Life Underwriter® (CLU®), Wealth Management Certified Professional® (WMCP®), Chartered Advisor in Philanthropy® (CAP®), Chartered Special Needs Consultant® (ChSNC®), Chartered Financial Consultant® (ChFC®), and education leading to the Certified Financial Planner™ (CFP®) certification. The College’s faculty represents some of the foremost thought leaders in the financial services profession. Visit TheAmericanCollege.edu and connect with us on LinkedIn, Facebook, Twitter, Instagram, and YouTube.
ABOUT PACIFIC LIFE AND THE PACIFIC LIFE FOUNDATION
For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2021 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit PacificLife.com.
The Pacific Life Foundation (the Foundation) was established in 1984. Together with Pacific Life, the Foundation has contributed $131 million to community and national nonprofit organizations. Grants are made to organizations that address a broad spectrum of social needs.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2021 is compiled by Pacific Life using the 2021 FORTUNE 500® list.