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Northwestern Mutual "Develop a Financial Plan" Challenge Winners Announced

The MU Department of Personal Financial Planning and Northwestern Mutual – Columbia announced the winners of the 2019 “Develop a Financial Plan” scholarship competition. The competition was sponsored by Northwestern Mutual – Columbia and developed in partnership with the University. The competition was open to students in the MU Department of Personal Financial Planning’s Financial Planning Capstone course.

Participating students competed for scholarships by creating a comprehensive financial plan tailored to the members of a hypothetical family. Using their personal ingenuity, the students utilized what they had learned in their CFP Board-Registered Program classes and the experience gained through internships to create a realistic financial plan for the family- taking into account the household budget, insurance needs, retirement goals, and wants for their children.

Finalists for the 2019 “Develop a Financial Plan” competition presented their plans in late November to a panel of judges, professors, and students.

Scholarships were awarded to the following students:

First Place – $1,500 scholarship

Noah Brinkman
Bingxin Dai
Yilin Wang

Second Place – $1,000 scholarship

Jacob Sarch
Jiaqi Wang
Weipeng Wu

Third Place – $500 scholarship

Yaqi Fang
Kolby Lang
Angelina Steck

“This student competition involved an innovative learning experience that served not only to enhance their financial planning educational experience, but to potentially transform their post-college careers,” said Dr. Rui Yao, Course Professor. “It is real-world know-how that sets students apart as they prepare to join today’s workforce, and I’m grateful that, in partnership with Northwestern Mutual, we were able to provide students with this educational opportunity to hone critical planning skills necessary to help people develop strategies for financial security.” Dr. Fran Lawrence, Department Chair and MU CFP Board-Registered Program Director, echoed Yao’s remarks and looks forward to the continued Department relationship with Northwestern Mutual. Managing Director of Northwestern Mutual-Columbia, Mike Mouser, speaks of his ongoing excitement for the future of Northwestern Mutual’s partnership with the MU Personal Financial Planning Department and its students, “In the evolving landscape of financial planning, it is critical that new advisors are prepared and willing to help people achieve financial independence and security. After working with the Personal Financial Planning department and hearing the students present their final projects, I am confident and excited for the future leaders in financial planning. Dr. Yao and Dr. Lawrence have given these students tools and knowledge that have set them on a path to impact people’s lives around the world. We are grateful to be a part of their development.”