SMSU Finance Program Now Registered by CFP Board

Published Wednesday, July 22, 2026

SMSU student in the North Star Mutual School of Business

Southwest Minnesota State University has been approved by Certified Financial Planner Board of Standards, Inc. (CFP® Board) to provide a registered financial planning degree program. Students completing SMSU’s Bachelor of Science in Finance, with a concentration in Financial Planning and Wealth Management will meet the coursework requirements and will be eligible to sit for the CFP® certification exam administered by CFP® Board.

Southwest Minnesota State University's Finance Program is entering a new era, combining updated curriculum, expanded industry connections, and experiential learning opportunities designed to prepare students for careers in finance, financial planning, banking, insurance, and investment management.

With two new faculty members leading the program and a renewed focus on industry-relevant skills, SMSU is positioning itself as a destination for students interested in pursuing finance careers while benefiting from the personalized experience only available at Southwest Minnesota State University.

At the center of this transformation is Dr. Hui-Heng Cheng, assistant professor of finance, who joined SMSU in 2024, and Dr. Morgan Nations, assistant professor of finance, who joined the faculty in 2025.

"Students have many options when choosing a finance program,” said Cheng. “Our goal is to create distinctive opportunities that provide practical experience, professional preparation, and strong connections to industry."

One of the program's greatest strengths is its relationship with North Star Mutual Insurance Company. The partnership has encouraged SMSU to expand its focus on risk management and insurance education while maintaining strong foundations in corporate finance and financial planning.

Currently, the Finance Program offers two primary concentrations:

Corporate Finance
Financial Planning and Wealth Management

Faculty members have also explored future opportunities in actuarial science, a field that aligns closely with the needs of the insurance industry and regional employers.

"We want students to understand the variety of career opportunities available within finance," Cheng said. "Whether they are interested in banking, financial analysis, risk management, insurance, or wealth management, we want to provide a pathway that prepares them for success."

Recent curriculum updates were developed with an emphasis on industry certifications and career readiness.

Students in the Financial Planning and Wealth Management concentration receive specialized preparation for careers in financial advising and wealth management. Faculty members have aligned the curriculum with standards established by the Certified Financial Planner Board of Standards, helping ensure students gain knowledge directly applicable to the profession.

"The addition of the CFP® Board Registered Program is an exciting step for Southwest Minnesota State University. It reflects our commitment to growing our finance program and creating new opportunities for our students,” said Nations. “Working with CFP® Board gives students a clear pathway to earn the education required for one of the most respected certifications in the financial planning industry. I look forward to seeing this program continue to grow and to working with CFP® Board to prepare students for successful careers."

CFP Board is a Washington, D.C.-based nonprofit that consists of two affiliated nonprofit organizations, both focused on achieving their Strategic Priorities. The mission of CFP Board of Standards, a 501(c)(6) nonprofit organization, is to credential competent and ethical financial planners, uphold CFP® certification as the recognized standard and advance the financial planning profession. The mission of CFP Board Center for Financial Planning, a 501(c)(3) nonprofit organization, is to advance competent and ethical financial planning and expand CFP® professional diversity for the benefit of the public.

CFP Board currently oversees more than 360 programs at more than 200 institutions. CFP Board Registered Programs are financial planning education programs at the college or university level that meet specific criteria for educating individuals who wish to fulfill the education component for obtaining CFP® certification.

Those who earn CFP® certification distinguish themselves among their financial planner peers by meeting CFP Board’s education, examination, experience, and ethics requirements.

Students interested in the Finance Program at SMSU should send inquiries to bis@SMSU.edu Read more about the academic requirements: https://catalog.smsu.edu/academic-programs-degrees/finance/finance-bs/

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ABOUT SMSU

Southwest Minnesota State University, located in Marshall, Minnesota, prepares students to meet the complex challenges of a global society by providing a high-quality education in the liberal arts and professional studies. SMSU is a member of the Minnesota State system.

ABOUT CFP BOARD

CFP Board is the professional body for personal financial planners in the U.S. CFP Board consists of two affiliated organizations focused on advancing the financial planning profession for the public’s benefit. CFP Board of Standards sets and upholds standards for financial planning and administers the prestigious CERTIFIED FINANCIAL PLANNER® certification — widely recognized by the public, advisors and firms as the standard for financial planners — so that the public has access to the benefits of competent and ethical financial planning. CFP® certification is held by more than 95,000 people in the U.S. CFP Board Center for Financial Planning addresses diversity and workforce development challenges and conducts and publishes research that adds to the financial planning profession’s body of knowledge.

SMSU Media contact: Marcy Olson, Marcy.Olson@SMSU.edu

CFP BOARD CONTACT:

Johel Brown-Grant, PhD, Director of Education,

Avamarie Ginocchio, Sr. Specialist, Registered Programs,

Daneia Russel, Specialist, Registered Programs

E: registeredprograms@cfpboard.org