GCU and Schwab invest in students with a financial center
Lana Sweeten-Shults story
Photos of Ralph Freso
CUU Information Office
Grand Canyon University is bringing Wall Street west to Phoenix – and doing, as it always does, as a force for good.
This is what finance professor Alain Klibanoff sees the role of the new financial center of the Charles Schwab Foundation, which opened on Thursday with a groundbreaking ceremony. The space, tucked away on the first floor of Colangelo College of Business, will be the heart of the college’s financial planning and bring the world of finance to life for students.
The 34-seat classroom is where students will immerse themselves in a lab for the Securities Industry Essentials exam, the first exam future securities professionals take to earn their license so they can launch their careers in the industry. ‘industry.
“Recruiters said this summer, ‘I will hire all of your SIE students who are on the course or who pass before they graduate because it is the forerunner in the industry,” said Klibanoff, who has worked in as senior vice president of JP Morgan, Citibank and Morgan Stanley before joining the college faculty.
The Finance Learning Center, one of the convenient Lopes Live Labs on campus, is also where students will take classes, such as Introduction to Finance or Senior Portfolio Management. It’s the zero point for finance club meetings and guest speakers, and it’s where students can soak up the information scrolling through the centre’s Bloomberg terminal, a computer system teeming with real-time financial data and of news feeds that light up the room like a Christmas tree. .
“We’re going to get them certified Bloomberg, which is the doctorate. of knowledge “in the financial world,” said Klibanoff, who noted that “these students have the ability to sit essentially on Wall Street in Phoenix, Arizona.”
It was in 2018 that the Finance Chair Marc Jacobson started creating the college’s first stand-alone funding program and contacted Charles Schwab.
“This whole partnership with Charles Schwab is the result of his leadership and vision,” said the dean of Colangelo College of Business Dr Randy Gibb.
He added to Thursday’s opening how “Charles Schwab was on campus to sponsor content, teach and support testing, and then that led to internships and jobs, which led to more teaching, testing and employment opportunities, as well. than to the growth of the Charles Schwab brand on campus. “
In 2020, the Charles Schwab Foundation has committed to funding GCU’s Certified Financial Planner program, which will be launched in fall 2022.
And the foundation, in partnership with Schwab Advisor Services, awarded the college a multi-year grant to support awareness of the profession of registered investment counselor. The grant funds the financial center and builds the college’s financial education offerings. The college also acquired a Bloomberg terminal subscription, established college-wide Wall Street Journal access for more than 17,000 students, funds scholarships, and hired a finance professor. Dr. Joy Clady.
“Our goal,” said Gibb, “is to take the GCU funding program to the next level. We want to make our“ Colangelopes ”the talent pool for the next generation of registered investment advisers.
During the grand opening ceremony, the president of the GCU Brian Mueller celebrated the business school faculty for their dedication to their students. The financial center is the latest example.
“The difference here is that our professors support their students’ initiatives in a big way,” said Mueller. “The culture here is to try to understand who the students are and to try to understand what their goals are, what their dreams are, what their ambitions are and then support them.”
But this dedication goes beyond educating students and helping them access their first jobs. It is also about supporting them in their faith.
“What really sets this student body apart is definitely their academic potential,” Mueller said. “But it is also their commitment to the Christian faith. … That’s why we now have 20 advisory boards and 500 companies represented on those advisory boards – because people desperately want access to our graduates.
Mueller also emphasized the importance of two fundamental ideas that make America the best country in the world: the free market system and the Christian worldview.
“You combine these two things and unleash human potential in a way that no other economic system does,” he said.
Bernie clark, Managing Director of Schwab and Head of Consultant Services, also sees this human potential. He said he has spoken to many students who have told him that going into finance is more than just a career path for them.
“They tell me that they are participating because they saw their parents struggle and they want to help them think about the future. … They want to continue helping their neighbor, which is so important to continue to do so.
Clark added that he hopes the financial center can help harness the talents of GCU’s diverse campus.
What’s unique about GCU’s Schwab Foundation Financial Center, he said, “is your student population – I think that’s the diversity that can be found here.”
The university’s student body is 28 percent Hispanic and 7 percent African American, and over 40 percent of the students are students of color.
“I know the Schwab Foundation’s goal is to diversify (global) financial planning,” Mueller said.
Arizona State Treasurer Kimberly Yee, also a speaker at the event, shared the findings of the state task force on financial literacy. Its members want to ensure that students understand money management from an early age, which is why a law was created in 2019 that requires Arizona high schools to teach financial education before the start. ‘Graduation. The task force also found that it is not only young people who need to be educated in money management, but also the elderly and those who receive government grants.
She spoke directly to the students about the internships offered by her office: “When you are ready to go, I have a job for you, I believe, because I want people of character, people who are first with God. , and you are a servant. It is written servant leadership directly on the walls as you enter this building. “
GCU students Adrianna romero and David Fonseca, who did an internship with Charles Schwab over the summer, explained how the financial center will be an incredible asset to students.
Romero said not all colleges offer access to high-end financial tools like the Bloomberg terminal.
She observed the recent GameStop stock market phenomenon and the rise of online investing apps that are popular with students. She sees the Schwab Foundation Finance Center as one more tool in the financial arsenal of students.
“Obviously, they are not analysts, they are not traders, they have no training. This tool allows them to be educated before they go and make a speculative decision, like a meme stock or a foreign currency or a cryptocurrency, ”she said.
“Everything that happens now is just hype, in and of itself,” Fonseca added of what happened with GameStop. The new campus financial center will go beyond the hype. “When we dive into it, you can really understand the fundamentals of every investment. So that’s the benefit of that ”- to improve the analytical skills of any student.
More than nurturing Arizona’s financial talent pool, Gibb sees the financial hub and its partnership with Schwab as aligned with the University’s core values.
GCU educates students and helps them find jobs, but that’s not all. “We want to emphasize how business is a force for good,” Gibb said. “… We all live our faith here by serving others. “
GCU Senior Editor Lana Sweeten-Shults can be reached at [email protected] or at 602-639-7901.
Fox 10: GCU opens a new financial center
T & Cs today: The Schwab Foundation Learning Center arrives at GCU
CUU press release: Colangelo College of Business creates the learning center of the Charles Schwab Foundation
AZ BigMedia: GCU creates the learning center of the Charles Schwab Foundation