April 25, 2006
CONTACT: Gordon Ovenshine:
Finance majors win national Ameriprise case competition
SLIPPERY ROCK, Pa. - Three Slippery Rock University finance majors have captured first place in the case component of the national Ameriprise Financial Planning Invitation competition in Minneapolis for developing a comprehensive financial plan for a fictitious couple. Judges lauded the team's entry for its strong, clear language and detail.
Jeff Geibel of Prospect, Troy Sharbaugh of Altoona and Craig Stokan of Hollidaysburg competed against teams from seven other finalist universities, including Texas Tech and Virginia Tech. The SRU students won the case stage of the competition.
Stage two consisted of a presentation of the team's case, and the concluding stage was a game show quiz competition dealing with financial planning topics. Points were awarded to teams relating to their performance in all three areas.
The case competition required teams to develop and present a financial plan for a couple planning to retire when they reached the age 62 in 2014. It stipulated that the man and woman, a company vice president and pharmacist, wanted financial security and the ability to help a grandchild and to be able to support the cultural arts.
The SRU team re-arranged the couple's cash flow and investments to meet these goals and included sufficient life, long-term care and disability insurance, Misner said. They created a college fund for their grandchild.
According to Misner, judges described the students' work as "very strong" and praised their "excellent and clear language that easily leads clients to action."
The Amerprise Planning Invitational is open to all schools with undergraduate financial planning programs. This year, 22 schools entered teams for Phase 1. Financial plans were submitted, and the top eight teams were invited to compete in Minneapolis. The overall winner was Virginia Tech. "There wasn't a dry eye in the house when their names were announced," Misner said.
Judges were members of the Certified Financial Planner Board of Standards and the Financial Planning Association as well as active financial advisers and leaders from Ameriprise.
Slippery Rock University is Pennsylvania's premier public residential university. Slippery Rock University provides students with a comprehensive learning experience that intentionally combines academic instruction with enhanced educational and learning opportunities that make a positive difference in their lives.