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Alumnus, one of nation's top financial advisers, establishes scholarship

An Austin Peay State University alumnus who is one of the nations best-known financial advisers is honoring the APSU faculty member to whom he, in large part, attributes his professional success.

Larry Carroll, president of Carroll Financial Associates Inc., Charlotte, N.C., gave more than $100,000 to APSU in 2004 to establish the Baggett-Carroll Scholarship in the School of BusinessCarrolls tribute to Associate Professor Emeritus of Accounting Lawrence Baggett.
An Austin Peay State University alumnus who is one of the nation's best-known financial advisers is honoring the APSU faculty member to whom he, in large part, attributes his professional success.

Larry Carroll, president of Carroll Financial Associates Inc., Charlotte, N.C., gave more than $100,000 to APSU in 2004 to establish the Baggett-Carroll Scholarship in the School of BusinessCarroll's tribute to Associate Professor Emeritus of Accounting Lawrence Baggett.

Baggett, also an alumnus, taught accounting at APSU from 1965-2004, serving as department chair during 1979-82 and again in 1998-2003.

To increase the scholarship endowment, Carroll recently issued a challenge to other alumni and supporters, especially those in accounting or business, saying he will matchdollar for dollareach gift to the Baggett-Carroll Scholarship Endowmentup to $250,000.

Roy Gregory, executive director for University advancement, said, “If our alumni and friends give a total of $250,000, Larry will match that, which will mean a total of $600,000 for the Baggett-Carroll Scholarship Endowment. This will enable APSU to go after the best high school and nontraditional students who want to major in accounting in the School of Business.”

With a bachelor's degree in accounting from APSU and an MBA from the University of Tennessee, Carroll, a former certified public accountant (CPA), became a certified financial planner in 1981. His firm manages more than a billion dollars of client assets with an emphasis on risk-controlled portfolios for retirees.

Past national chair of the 24,000-member Financial Planning Association, Carroll has been quoted in Money magazine, The New York Times, Medical Economics, The Wall Street Journal, Business Week, U.S. News and World Report, American Banker and other financial publications, and he has appeared on “NBC Nightly News” with Tom Brokaw.

Carroll is one of only eight advisers in the country to be named on all the “best financial planners” lists by both Worth and Money magazines. In October 2005 for the eighth time, he was included in Worth magazine's listing of “The Nation's 100 Most Exclusive Wealth Managers.”

As a nontraditional student, Carroll enrolled in one of Baggett's classes while stationed at Fort Campbell, Ky., with the U.S. Army.

“I'm overwhelmed by Larry's generosity and humbled by his consideration of me in making this contribution,” Baggett said. “I certainly cannot take credit for Larry's success in the financial world. What I didand what Austin Peay didwas provide him with the opportunity to learn and develop abilities and skills he already possessed.

“Nevertheless, Larry's generosity will provide tremendous continuing benefits to Austin Peay and to the many students who will be future recipients of the scholarships.”

Donations to the Baggett-Carroll Scholarship should be sent to Sharon Silva, Scholarship Manager, University Advancement Office, APSU, Box 4417, Clarksville, TN 37044.

For more information, telephone (931) 221-7127. — Dennie B. Burke