Schwab Foundation supports new ASU Financial Access and Research Lab

The W. P. Carey School of Business building.

The state-of-the-art lab space will have access to innovative tools and subscription-based datasets, and will allow W. P. Carey students and others in the ASU community to prepare for wide-ranging careers in finance.

By Molly Loonam |
June 15, 2023

Schwab Advisor Services, in partnership with the Charles Schwab Foundation, is providing generous support in the launch of a new W. P. Carey School of Business finance lab. The Charles Schwab Foundation Financial Access and Research (FAR) Lab will contribute to the school's community through increased financial access and literacy tools, experiential learning opportunities for students, and timely and relevant information for student asset managers.

“We are honored to be partnering with Arizona State University to empower the next generation of changemakers in the financial services industry,” said Bernie Clark, head of Schwab Advisor Services. “The University Grant Program will provide its students with the resources and experiences needed to succeed in their chosen profession and increase access to the industry.”

The five-year gift includes support for outfitting a state-of-the-art lab space with access to innovative tools and subscription-based datasets. This immersive on-campus experience will allow W. P. Carey students and others in the ASU community to prepare for wide-ranging careers in finance — including banking, asset management, advisory and corporate finance functions.

A devoted and well-equipped lab space deepens the opportunities available for students who arrive with an intent to pursue finance, as well as sparks interest for those without prior finance exposure, enabling a better understanding of the opportunities available and skills required in the financial services sector across a diverse student body. Renovations for the space are scheduled to begin this fall, with a grand opening expected in fall 2024.

“The generous gift from our partners at Schwab is key in building an innovative and accessible finance lab for W. P. Carey students. This space will provide outstanding learning opportunities for our students while training them to meet organizational needs in financial services firms immediately upon graduation,” said Ohad Kadan, Charles J. Robel Dean and W. P. Carey Distinguished Professor.

W. P. Carey has the No. 16 finance program for undergraduates in the country, as ranked by U.S. News & World Report. As of spring 2023, more than 1,600 W. P. Carey students are majoring in finance and will directly benefit from this partnership.