UVU Personal Financial Planning Students Win First Place at IARFC Competition

First place winners Sarah Chamberlain and Andrew Mathis
stand with Dr. Luke Dean, RFC, Associate Professor at UVU
and Bradley K. Maples Sr., MRFC , US Chapter Board President

Three teams from Utah Valley University constituted the entire group of finalists who presented at the International Association of Registered Financial Consultants (IARFC®) National Financial Plan Competition in Cincinnati, Ohio. For the first time in the competition’s history, all three teams advancing to the finals were from the same university. UVU had already made up two-thirds of the six teams in the semifinals.

The competing students were sophomores and juniors enrolled in UVU’s Personal Financial Planning (PFP) program, a bachelor’s program that prepares students to become fee-for-service financial professionals skilled in addressing specific finance-related needs of individuals, families, and businesses. The PFP program teaches a curriculum registered through the Certified Financial Planner (CFP®) Board of Standards. Students not only have the opportunity to become CFP® certified and receive other industry credentials, but also to compete in national competitions and network with industry professionals.

“From our perspective, having three teams from the same university is unprecedented," Vicki Caplinger, IARFC NFPC coordinator, said to Yahoo! Finance. "Congratulations to the Utah Valley participants and thanks to Dr. Luke Dean for encouraging his students to participate in our competition.”

The National Financial Plan Competition is intended for undergraduate students enrolled in financial services-related programs. The competition is supported by IARFC members and corporate backers, such as this year’s sponsors: Money Concepts International, Envestnet MoneyGuide, and Northstar Wealth Partners.

Under the tutelage of UVU Associate Professor Luke Dean, Ph.D., three teams of two — Brooke Gibson and Max Gledhill, Andrew Mathis and Sarah Chamberlain, and Sam Jensen and Jakob Wagner — presented their carefully thought-out financial recommendations for a fictional family to the IARFC US Chapter Board of Directors, who judged the teams according to their delivery and the financial relevancy of their plans.

The students were challenged to take information from a case study of a fictional family’s financial situation and produce a financial plan to help the family obtain and maintain financial stability. In this way, the competition gives students real-world, hands-on experience by allowing them to analyze realistic financial situations and think critically to define and recommend action plans.

Mathis and Chamberlain took first place in the final round, with the Gledhill and Gibson team and the Jensen and Wagner team as runners-up.

“The IARFC competition was a great opportunity to experience what a day at work for a financial planner is like,” Mathis said. “I enjoyed the opportunity to work with professionals and to learn various financial planning methods.”

Chamberlain shared a similar sentiment. “The IARFC competition has been a really fun and challenging way to apply the concepts I have been studying in school,” she said. “Participating has made me excited for what my future as a financial planner will hold!”

To learn more about UVU’s PFP program, visit their website.

Second place winners at IARFC competition