These Wolverines know their green.

A team of students from Utah Valley University (UVU) was named the winner of the Financial Planning Association’s (FPA) 2022 Financial Planning Challenge on Oct. 18, 2022. The three financial planning students — Abby Adams, Colten Orton, and Siria Trochez — beat out teams from big-name institutions like Kansas State University, Texas A&M, The Ohio State University, and the University of Arizona.

“If I were to describe this team, I would say they were very determined,” Professional-in-Residence and Faculty Advisor Dr. Hyrum Smith said. “This team knew how to work hard, and it's great to work with students and see the happiness they get as they compete.”

The FPA Financial Planning Challenge is an annual competition comprised of three rigorous stages to test college students’ financial planning strategies and know-how. Competitors are required to design a financial plan based on a case study prompt, present the plan before independent financial planners, and participate in a financial planning quiz bowl.

“I'm thrilled,” Abby Adams said. “I have grown in appreciation for [the financial planning program] and opportunities it affords. It's just a one-of-a-kind feeling to represent that program and give back to it by bringing in representation and helping it progress. That’s always been a bit of a passion point for me.”

Adams, along with her teammates Siria Trochez and Colten Orton, spent months preparing their financial plan and presentation. Their meetings were held remotely because Trochez, now graduated, lives in South Carolina.

“I still haven’t really processed the win,” Trochez said. “The time that we had to put into it was definitely the biggest challenge because I'm two hours ahead. Starting later at night and then having to get off of the phone call at like 12 a.m. or even 1 a.m. sometimes was definitely kind of hard, but definitely worth it.”

The team, affectionately dubbed “The True Wolverine Team” by Dr. Smith, said it attributesits success to Dr. Smith’s mentorship during preparation.

“Dr. Smith was always looking to push us,” Orton said. “He wants you to understand what he's teaching. And his classes are probably one of the hardest classes here in the program. But that being said, he's always willing to answer questions and wants you to understand.”

“He let us go off on our own and take on the majority of the project,” Adams added. “But when it came to the presentation, he gave some key feedback items that, when we followed them, were items that the judges had pointed out that we had done well.”

Adams, a previous winner of the Financial Planning Challenge, said her passion for financial planning came after the passing of her birth father.

“My birth dad passed away in a car accident when I was one year old, so I never really knew him,” Adams said.“But he was an accounting major, and he was very strict when it came to a budget and good financial habits. My mom at the time was a widow with five kids, which is a lot, but he had a folder that literally said ‘in case of my death’ and had everything laid out financially.”

The funds Adams’ dad set aside continue to sustain her family today.

“I’ve been able to see the impact he made even though I’ve never met him,” she said.“That showed me the real impact that good decisions and good habits can make in a person.”

Adams is currently working on her second internship, while her other teammates found employment almost immediately upon graduation.

This win marks UVU’s second time taking first place in the FPA’s Financial Planning Challenge. The Wolverines won in 2020 and placed in the top eight in 2014, 2015, 2016, and 2017. Additionally, UVU personal financial planning students have placed in over six national financial planning competitions against big-name institutions.

Dr. Smith provided his take on the success of UVU’s Financial Planning Program, a top-10 nationally ranked program.

“I think a lot of that is our administration’s faith in hiring faculty,” Dr. Smith said. “We have great faculty members that help students accomplish really cool things.”

Learn more about the UVU Personal Financial Planning Program.