Extra Credit - Finance Clubs - Term Paper Example

Use this document (add space as needed above) and type your response in your own words using size 12 font and double spacing. Turn in 2 (separate) stapled copies per group before class begins on the due date. Outside research is required. 1 A. Research at least 3 different student finance clubs at business schools in U.S. colleges/universities (such as: an investment club, a banking club, a corporate finance club, an insurance club, a financial planning club, a financial career networking club, a financial club that raises funds for altruistic or scholarship purposes, an asset management club, a club that has a variety of financial interests, etc.). Do not limit yourself to these suggestions, there is a wide range of finance clubs; look at clubs in which you as a student at UCD might have an interest in participating. Each club must be active (there is not a requirement on the number of members, but the club must have events and/or meetings and/or guest speakers and/or trips (to the Fed., the mint, a stock brokerage, etc.); something in which the members participate, even once per semester would work. 1. Chicago Booth Banking Club is of great importance for students who seek a reputable place in finance field. The professional assistance they provide and the activities that they use to engage students are of paramount importance for their future career. Students of UCD may benefit from this club by participating in the events it arranges for the benefits of its members. 2. The Personal Financial Planning Club of Georgia University is also an interesting opportunity for the UCD students. Personal planning remains one of the basic concepts of people’s life requires careful consideration to each and every aspect of a financial affair. It is not only important for a finance student to know about it but is the requirement of every individual in the fast moving and highly inflated world. 3. The Undergraduate Investment Club at Indiana University provides students with the information and expertise that is required for finance students` bright future. This club is of immense importance for a large number of people as everyone wants to double his money and attain the luxuries of life. In order to double the money, people need to invest somewhere and an investment club may answer the chaos and complexities of investment options. Hence and investment Club may be helpful for people who are learning to earn and manage and stabilize their financial position. B. For each club, provide the mission statement and/or goals, membership requirements, dues (if any), frequency of meetings, types of events/meetings/guest speakers/trips/altruistic focus, the benefits (tangible and intangible) of being a member of each club, and how the club is funded (with student fees, corporate sponsorship, the university, the business school, etc or the combination of sources). Note: this may require contacting a member of each club (via email would be okay) for information. 1. The mission of the Chicago Banking Club is to enhance the educational level and keep the students at ease. It provides elevated networking facilities, career planning advises and professional development opportunities. The mission of the Chicago Banking Club is to develop careers in investment banking to its registered members. The goal of the Chicago Booth Banking Community is to provide its members with knowledge and analysis of investment banking career. It helps its members to make the right decision about their career after a thorough study and examination of the specified career. The CBBC is a member-oriented community, where all events and information are available to benefit the members. CBBC is an open club for all to join and benefit from the professionals’ guidance. Their membership procedure is not only easy but cheap as well. They offer a lifetime membership for only $80 and provide the member with access to all information and affairs of the club. They normally offer creative activities, conferences and meetings quarterly each year. Their combination of events involve meet and greet, Banking conferences, interview preparation sessions, investment banking symposiums etc. Their sponsors involve any interested parties in the events they are proposing which involve Meet & Greet, Banking Conference, Information Sessions, Panel Discussion etc. Members, Bankers, BMO Capital Markets and Fort Dearborn Advisors and many others are their major sponsors. The benefits of being a member of CBBC include but are not limited to easy access to investment banking information, know-how of basic hurdles in the relevant field, open discussions with the employers of investment banking area, activities to develop practical working expertise and meetings with major players in investment banking field. 2. The aim of Personal Financial Planning club of Georgia University is to educate students about the possible financial outcomes of every step they take in their routine life. This club aims to inform them of the consequences in financial terms of their personal life affairs like divorce and financial planning affairs like saving for life insurance and choosing between the best pension plans etc. The club achieves its aims by arranging quarterly events to keep the club members engaged in different activities to learn and memorize the important concepts. Moreover the meetings and professional assistance help them in building social relationships and develop their abilities to analyze things critically. The meetings are interesting as they cover a wide range of topics which may benefit any individual regardless of their educational background. The benefits of personal financial planning are not limited to the student’s educational life but surround the whole life of the individual and assist him throughout his life by the beneficial information of financial planning and control which is required in every phase of life. The membership options provide a number of different ways to avail the benefits the club provides. The membership fee is an annual payment of $35 for an individual and $50 for joint membership. The club is financed by membership payments and university sponsorship. This club, indeed, is of great help for students to manage their financial affairs especially in the learning phase when there are limited options to earn and unlimited requirements of life. 3. This club aims to provide them with the facilities and opportunities to meet investment professional who may be helpful in their future professional activities. This club aims to provide students and all its members with firsthand knowledge about the investment options, capital markets and success factors in investment activities. The membership form requires the details about educational level, achievements and general information about the interested candidate; however, it clearly states that this club welcomes individuals of all standards and backgrounds. The club is sponsored by the Kelley-wide Stock Competiton corporate sponsor. The Club provides a wide range of events to engage students in the learning process. These learning techniques involve book reading, meetings, discussions, competitions and so on. These events are scheduled several times a year for instance; meetings are conducted two to three times a month. The benefits from this type of clubs are not limited as investment clubs teach people of how to make the most of their finance. This financial assistance may be short-term or long-term depending on the requirement of the member. The club is a platform for all individuals who need to take wise decision in preserving their existing finance and shaping their future in accordance with their desires. C. For each club, discuss whether it would be of interest to students at UCD (including you) and how this might work at UCD. Do not limit yourself to just the clubs that you researched. This is a non-traditional student and (in large part) a commuter campus. Your finance club at UCD would be defined and run by students (with support from the university, the Business School, and finance faculty), so the scope of the club is limited only by your ideas. 1. UCD provides a flexible working environment for the students. The Chicago Booth Banking club would be a motivation for the UCD students to develop, enhance and prove their qualities and knowledge in the investment banking field. The scope of UCD’s education provide a rather practical approach to students, hence, students’ might feel more confident when sitting at conference or sharing their ideas with the experts. The fact that they would manage the club themselves and will be able to conduct one on one meetings with the leading figures of the investment banking field would amplify their enthusiasm and competitions would lead to a more focused member groups of the club. 2. Since UCD aims to educate students and prepare them for their future professional and personal life, such a club would be of great value to the students. Most of the people in today’s society fail to flourish and manage their life due to their lack of financial planning and control. People often associate financial planning with businesses and fail to realize its importance in individual’s life. Proper financial planning can be learnt and may help in keeping the life running stable in the start and luxurious in the future. Financial planning is not a onetime process but requires planning and re-planning to achieve the targets of one’s life. Hence membership of this club would benefit the students throughout their lives. UCD would benefit from this club as the issues discussed and meetings of personal financial planning clubs take into account different issues which deal with the routine life of people. As a result, members will be able to learn the techniques and practice them instantly. 3. The Undergraduate Investment Club at Indiana University may help UCD students in gaining knowledge about investment opportunities and the ways to avail them in fruitful manner. The clubs may find it an opportunity to build their name and increase the number of members while working with UCD. The benefits are not limited to the students only but the staff and other associated people may benefit from this club and find appropriate ways to utilize their finances. Investment decisions do not only require an outlook of investment’s benefits in the short run but require an in-depth analysis of the investment’s overall impact on finances over the investment cycle. The investment club would help students to invest their limited finances and if accompanied by personal financial planning club, the member will be able to manage their daily life by keeping the investments preserved for their future life. In conclusion, we can say that, finance clubs are a great source of information, knowledge and education for people. If these clubs are joined and the information they provide is utilized, a person may benefit from them throughout his life. Read More