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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.”