Stock market follies fund future scholarships
A financial company donating $50,000 to the Utah State University Finance Club changed the clubs’ status to what it hasn’t been before: The club is now active.
Seats overflowed at last week’s Finance Club meeting with the eager students awaiting the explanation of what the club offers and what the club gets to do with its $50,000.
Club adviser Jan Lyons said financial company D.A. Davidson gave the money to colleges and universities throughout the Rocky Mountain region for students to invest in the actual stock market.
Lyons said the half of the money made from the stocks will be given to the university for scholarships and the other half will be returned to D.A. Davidson.
Derek Scoville the Finance Club vice president, and a senior studying finance and economics said, if money is lost D.A. Davidson replenishes it when the year ends with no liability to the university.
Jill Mortensen a registered associate at D.A. Davidson and a former Aggie ,said USU started this program in the fall of 2000.
“[The company] really believes in wanting to teach students [with] real-life scenarios and to learn to handle money,” Mortensen said.
Aside from the money it has to invest in the stock market, the club has other goals it wants to accomplish.
“Initially the goal is to get [the Finance Club] started,” Scoville said.
Giving students a chance to get some instruction outside of school and to understand investments, Scoville said, is what the club wants to accomplish.
Club President Shayne Howell, a senior studying finance, said the club gives exposure in finance.
Howell said the club would like to invest the rest of the stock money and keep bringing the amount it makes up through the rest of this year.
“Trying to do real-life stuff versus what you do in school is cool because we have $50,000 we can invest with no risk,” Howell said.
Rachel Smith, a senior studying finance and economics, said she joined the club to get more experience in the investment side of finance. She said the club gives students a chance to meet people in the finance world and market today.
Lyons said the Finance Club is free to join to any student interested in investment or finance. It is a student-run organization and Lyons said she allows the students to do pretty much what they want, but she also offers any advice if needed.
Mortensen said D.A. Davidson wants “to develop the students’ invest strategy, to learn to do research investing stock, and track their investments,” with the investment they make.
At the meeting, students had the chance to play a game with stocks and hear business professor Drew Dahl speak, while eating pizza and candy.
Dahl discussed finance certification programs in his speech. He said there are three main program certifications: financial management, cash manager, and financial analyst. These certifications distinguish students for jobs that Dahl said are hard to get. Certifications can help reinforce other things learned in a student’s education, Dahl said, and they allow students to compete for jobs at a higher level.
The certification exams are rigorous and difficult to pass, Dahl said, but that is what makes them so valuable. Dahl said USU sponsors five students to take the first of the exams every year.
Lyons said speakers for the Finance Club are chosen from their expertise in investment and business. Getting students exposed to the D.A. Davidson game is the reason club members play the games, Lyons said.
“It’s a good opportunity to join any club, to actually get people involved in clubs,” Lyons said.
For more information on the club, contact Lyons at 797-3722.
-amysueh@cc.usu.edu