Scholars of Finance is a rapidly expanding program that aims to infuse personal values and ethical principles into the education of finance students.gettyScholars of Finance is on a mission to transform the education of college students studying finance. Though a sequence of experiences including an orientation to the industry, leadership development programs, mentorships, workshops and networking with finance executives, the program aims to prepare graduates to become the “high-performing, purpose-driven, principled leaders finance needs.”The 501(c)(3) nonprofit was co-founded about a decade ago by two former students — Ryan Quinlivan, a University of St. Thomas graduate, and University of Minnesota student Ross Overline, who now serves as SOF’s Chairman and CEO — while they were still in college.At the time, Overline was concerned that the field of finance, with all of its power and influence, needed leaders that society could trust. He and Quinlivan, who is now on SOF’s Board of Directors and is a managing director with Piper Sandler Companies, brought together a group of Twin Cities business leaders and students to discuss responsible stewardship and leadership in finance and investing. That eventually grew into an annual event and led to the formation of the first chapter of what would become SOF. Those initial get-togethers served as the basis for SOF’s current vision statement, which is that finance leaders will steward the world’s capital to serve the greater good; and its mission, which is to inspire character and integrity in the finance leaders of tomorrow.I first learned about the program from John Shrewsberry, CFO of GoodLeap and former CFO of Wells Fargo, at a weekend conference this April at Claremont McKenna College, where he is a member of the board of trustees. Shrewsberry has been a frequent speaker at some of the SOF chapters, and told me that he thought the organization was “exactly what the industry and profession need to create a framework for ethical behavior to be taught, and modeled, at scale across the country. Colleges generally lack it, and employers should begin to expect it.” MORE FOR YOUFrom its informal beginnings, Scholars of Finance has rapidly expanded into a nation-wide effort to broaden the perspectives and deepen the social commitments of finance students. As Overline, who began his career at firms like Piper Sandler, Twitter and SoFi before heading up SOF, recently explained to me, “we found there were no organizations filling this critical need so we decided to build an institution and platform that could scale nationally and globally—so I left SoFi to build it full-time.”The organization now has chapters at more than 60 colleges and universities, including many of the nation’s most prominent institutions. All eight of the Ivy League schools have a SOF chapter, as do other private universities like Duke, Vanderbilt, the University of Southern California, Stanford, MIT, and the University of Chicago. More than a dozen public universities are represented, including the University of Michigan, Indiana University, the University of Virginia, Rutgers, and the University of Minnesota. HBCUs such as Howard University and Morehouse College now have chapters, as do several liberal arts colleges like Amherst, Middlebury, and Lehigh.A number of financial institutions — such as BlackRock, Goldman Sachs, and KKR— support the chapters financially and send their top executives to serve as mentors, speakers and recruiters at their events. Other firms sponsor local chapter conferences and events. A full list of corporate partners can be found here.The chapters are all student-run by a leadership team, which meets weekly. All of the content is developed by the national organization, which has raised more than $10 million and has almost 20 staff. Chapter members meet multiple times per month to plan meetings, team building experiences, and a core suite of programs that includes:Leadership development programs, where students and their peers examine their personal values and chart what kind of character and professional identity they aspire to. During this key part of the program, students write a personal mission statement that explains their values and principles.A mentorship network that enables students to participate in coaching sessions with financial professionals. These sessions may be one-time or they may develop into longer-term relationships that offer students the opportunity to receive personal guidance in their professional journey.A speaker series featuring finance professionals and executives who discuss how to navigate the tough choices and ethical challenges students may face in finance. These events also serve as networking and recruiting opportunities for SOF students.Professional development programs teaching students the skills necessary in the finance industry, including networking, resume building, interviewing, and financial acumen.Principles workshops that provide monthly opportunities for students to examine and learn how to apply the four core SOF values — integrity, compassion, humility, and excellence. Students sing the praises of the program, pointing to the unique priority it places on ethical leadership and stewardship in a series of testimonials at the SOF website. "There are no other organizations like Scholars of Finance at UC Berkeley," said Ishan Gill, co-founder of that chapter. “Other clubs may preach ethics, but it’s not their core pillar like it is for SOF. Values-based leadership is what differentiates SOF, and complements the learning I get in the classroom.”Princeton’s Nishant Singhal added, “Throughout my time with SOF I have been able to develop a firm understanding of my values and principles as well as how I can live true to them. I now have a framework that I can use to evaluate my decisions and ensure that I am acting in accordance with my deepest held values.”Ultimately, of course, the proof of the program lies in how its graduates will allocate assets after they are in positions of influence. Will they direct capital to uses that bring maximum benefit to people? Will they help grow an economy that benefits those in the middle and lower class and not just those at the top? Will they use their influence to direct investments at solving some of the world’s most intractable problems?Overline is optimistic. “We are proud to have hundreds of alumni in industry today, who are actively seeking to steward capital with purpose and values, and grow into leadership positions where they can affect real change in the future—and it’s all thanks to the growing community of leaders who believe in our mission today,” he said.