The CFP Board Center for Financial Planning and Mission Wealth Management, a California-based registered investment advisor firm, have partnered to launch a scholarship program.

Mission Wealth Scholars was created to support students from underrepresented populations working toward their CFP certification. The program offers as much as $5,000 per student working on financial planning education coursework at a CFP Board Registered Program, either at the undergraduate or certificate level.

“[C]andidates must have a demonstrated financial need or must be from the financial planning profession's underrepresented populations in terms of gender, race, ethnicity, disability or sexual orientation,” according to the CFP Board.

The scholarship will "serve as a launchpad for the careers of diverse CFP professionals,” Seth Streeter, Mission Wealth founder and chief impact officer said in a statement.

"CFP Board's partnership with Mission Wealth represents another step forward in our efforts to expand the financial planning talent pipeline and diversify the profession," Kevin R. Keller, chief executive officer of the CFP Board, said in a statement.

U.S. residents enrolled in an undergraduate or certificate-level program that is registered with the CFP Board are eligible to apply for the scholarship.

The scholarship must be used at a college or university located in Arizona, California, Colorado, Florida, Georgia, Illinois, Massachusetts, Minnesota, New Jersey, New York, North Carolina, Texas or Washington state.

Alternatively, the candidates can be residents of an approved state and enrolled in a virtual program.

Applications will be accepted until September 30.