Students enrolled in eight CFP Board-Registered Programs showcased their knowledge in financial planning in the annual Financial Planning Challenge competition
DENVER (October 18, 2022) — The Financial Planning Association® (FPA®), Ameriprise Financial, and the Certified Financial Planner Board of Standards, Inc. (CFP Board) are pleased to announce that the student team from Utah Valley University in Orem, Utah, has been named the winner of the 2022 Financial Planning Challenge. This annual competition provides students in financial planning programs across the country with a forum to showcase their knowledge and planning acumen on a national stage.
The competition, jointly sponsored by the three organizations, is designed exclusively for college and university financial planning undergraduate degree programs registered with CFP Board through a three-stage event. The first two phases are modeled after CFP Board’s Financial Plan Development (Capstone) Course requirement.
The winning team from Utah Valley University was comprised of Abby Adams, Colten Orton, and Siria Trochez. They were supported by faculty advisor Hyrum Smith, Ph.D., CFP®, CPA.
“Utah Valley University demonstrated an impressive knowledge of financial planning concepts and successfully translated high-level explanations into layman’s terms. Their excellent communication skills helped get their point across effectively,” says Patrick D. Mahoney, FPA chief executive officer. “We join our valued partners, Ameriprise Financial and CFP Board, in congratulating Utah Valley University and the other finalist teams for participating in this important competition.”
The following eight teams competed in the final stage of the competition this year:
- Utah Valley University: Orem, Utah (first place)
- Kansas State University: Manhattan, Kan. (second place)
- Fort Hays State University: Hays, Kan. (third place)
- Texas A&M University: College Station, Texas
- The Ohio State University: Columbus, Ohio
- University of Illinois Urbana Champaign: Champaign, Ill.
- Western Kentucky University: Bowling Green, Ky.
- University of Arizona: Tucson, Ariz.
“The energy these students bring to the competition and to our profession is contagious,” said Kim Hays, Director of Corporate Relations at CFP Board. “It is wonderful to see so many talented young people entering the financial planning profession right now; their education and skills equip them to become contributors to their firms or organization right away.”
Teams advance in the challenge by competing in the following three phases:
- Written financial planning case study
- Case study presentation
- “How Do You Know?” Challenge, a game-show-style financial planning knowledge contest
“Ameriprise is proud to support each phase of this competition, which develops and empowers the next generation of financial planners,” said Christopher Burke, Product Manager of Financial Planning at Ameriprise Financial. “Each team’s knowledge and efforts were on full display, and we commend them for their strong showing. We also offer warmest congratulations to Utah Valley University for winning the championship.”
Held entirely virtual this year, the Financial Planning Challenge aims to promote the financial planning profession as a vibrant community and viable career choice for today’s students. The competition involves students in a holistic financial planning learning experience, engages them in the financial planning community, helps them discover career opportunities, and enhances their financial planning knowledge. The top three winning teams will receive a monetary scholarship for their respective school.
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About the Financial Planning Association
The Financial Planning Association® (FPA®) is the leading membership organization and trade association for Certified Financial PlannerTM professionals and those engaged in the financial planning process. FPA is the CFP® professional’s partner in planning by helping them realize their vision of professional fulfillment through practice support, learning, advocacy, and networking. Learn more about FPA at financialplanningassociation.org and on Twitter at twitter.com/fpassociation.
About Ameriprise Financial, Inc.
At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 125 years. With a network of approximately 10,000 financial advisors and extensive asset management, advisory and insurance capabilities, we have the strength and expertise to serve the full range of consumer financial needs. For more information, visit ameriprise.com.
About CFP Board
Certified Financial Planner Board of Standards, Inc. is the professional body for personal financial planners in the U.S. CFP Board sets standards for financial planning and administers the prestigious CFP® certification – one of the most respected certifications in financial services – so that the public has access to and benefits from competent and ethical financial planning. CFP Board, along with its Center for Financial Planning, is committed to increasing the public’s awareness of CFP® certification and access to a diverse, ethical and competent financial planning workforce. Widely recognized by firms as the standard for financial planning, CFP® certification is held by more than 90,000 people in the United States.