Count us in! Business Finance students step up

Header image for Interrobang article CREDIT: SUBMITTED
Fanshawe’s CIFP Team. Front row: (left to right) Adam Baird, Amanda Hanlon, Andrew Laurin. Back row: (left to right) Mathieu Jones, Gabriela Fernandez, Neal Kongkham (Sun Life representatives), Lynn Okanski, Brad Bishop (faculty coaches)

Fanshawe College took the stage for the CIFP (Canadian Institute of Financial Planning) Case Challenge at Humber College on March 22, an event that brought students out of the classroom and provided the opportunity to network and gain experience.

Fanshawe Business Finance students Adam Baird, Andrew Laurin and Amanda Hanlon braved the Challenge as Fanshawe's very first representatives in the competition, along with their coaches, professors Lynn Okanski and Brad Bishop.

The three teammates had worked together previously but started serious preparations in January. “We've [had] team meetings at least once a week for two hours at a time. In these meetings we work with our coaches/professors, Lynn Okanski and Brad Bishop, to fine tune some of our skills,” said Baird. “We are also extremely grateful for our sponsor, Neal Kongkham, from Sun Life Financial for his generosity and help in coaching.”

Working together proved to be a valuable experience, learning to work cohesively with different opinions and views and bringing different experience together. “[Kongkham] is genuinely interested in seeing our great programs get even better to support the needs of the ever-changing financial services industry,” said Bishop.

The team was required to create and present a complete financial plan from a provided case study. Separated upon receiving the case study, teams were given two hours to read, analyze, develop and present a financial plan based on the client situation. The presentation itself was to a panel of judges that consisted of current financial planning professionals in an attempt to convince them that their solution was feasible and superior to others.

Fanshawe competed against six other colleges from Eastern Canada. “The experience of being able to compete on a national stage against the best students from other schools was irreplaceable,” said Baird. “It also gave us the opportunity to size up future competition.” The team was able to touch on every topic in the case even under extreme pressure and not knowing what was expected from the judges, who were also hard to read.

Despite not placing in the top three, Fanshawe's team has proudly opened the doors for future students as the inaugural team taking the Challenge. Okanski acknowledged the challenges that come with first time competitors, that there might still be a lot to learn about proper preparation for a competition for the students and coaches. Yet she knew at heart that the experience would be important. “I felt excited because I [knew] that this experience [would] be memorable for the students, and help shape their passion and commitment to financial planning.”

“[It is important] anytime Fanshawe students [take] centre stage to represent the school. For this particular event, it's important because we are part of such a strong and comprehensive program and we really want to help elevate the status of Business Finance students at Fanshawe,” said Baird. “Future Fanshawe students will benefit from this event and have the experience from this years team to support their journey.”

“We were going in blind to some extent, not having ever participated before, however, we were confident it would be a great experience for our students and ultimately it was,” Bishop said.

Interested in the CIFP Case Challenge? Baird recommends the experience to other Fanshawe Business Finance students. Visit www.cifpcasechallenge.ca for more information on future events.