3/18/2004

Contact: K.E. Schwab  -- 724-738-2199;  e-mail: karl.schwab@sru.ed

SRU SCHOOL OF BUSIENSS STUDENTS QUALIFY

FOR AMERICAN EXPRESS NATIONAL FINALS

          SLIPPERY ROCK, Pa. – The three-member Slippery Rock University School of Business American Express Planning Invitational team has qualified for the national finals to be held at the company’s Minneapolis headquarters April 21-24.

          The finalists are:  Jesse Cline of Somerset, Jim Kuminkoski of Prospect and Joe Yamrozik of Pittsburgh.

          Thirty-one schools from across the U.S. competed in Phase 1 of the program by preparing a comprehensive financial plan integrating the six areas of personal finance planning – investment planning, insurance planning, tax planning, retirement planning, employee benefits and estate planning – from a case profile presented by AE. Eight teams will compete in the finals, which involves two parts: the Case Presentation and the "How Do You Know?" Challenge. 

          The submitted plans were judged on accuracy of calculations, definitions and use of financial planning concepts, strategies and recommendations as well as creativity and appearance, reports Dr. John Misner, associate professor in SRU’s School of Business and team adviser.

           The other seven teams include students from Fort Hays State University, Kansas State University, Texas Tech, University of Minnesota, Mankato, Virginia Tech, Western Carolina University and Wright State University.  The Minneapolis competition will consist of two parts: the Case Presentation and the "How Do You Know?" Challenge. “In the case presentation portion, teams will be provided with a twist to the original client profile and will then revise their original plan to present a final list of recommendations to the judges,” Misner explains, adding the judges will be members of the Certified Financial Planner Board of Standards, the Financial Planning Association, and field leaders from American Express Financial Advisors.

The "How Do You Know?" Challenge is a game show-like contest with teams answering financial planning related questions for points.  SRU’s 2002 team also qualified for the competition and won this portion of the contest. 

           In addition to the formal competition, students have the opportunity to network with professionals and industry leaders. 

PN, PgN, WPN, PR, S