A group of La Trobe Business School students have won the prestigious AMP University Challenge that examines student’s financial planning abilities.
This is the third year in a row La Trobe students have taken out the top award with the added excitement this year of also taking out second, third and fourth place of the five places on offer.
‘This is a significant achievement for not only the students but the University’, said La Trobe Business School, Department of Finance Senior Lecturer, Marc Olynyk.
AMP Financial Services introduced the AMP University Challenge in 2011 and the annual competition is open to all Australian university students. It requires students to prepare a discussion paper in response to a client scenario put together by AMP.
The concept behind the Challenge is to provide students with an opportunity to apply their technical knowledge and skills within a real-world scenario.
Mr Olynyk has built the competition into his capstone subject ‘Case studies in financial planning’, as an integral part of the assessment framework for his students.
‘This subject is the culmination of their studies. Students refine their writing and client relationship skills and the subject is also designed to facilitate their transition into the work environment’, said Senior Lecturer Marc Olynyk.
‘For students, this is a unique experience and by embedding the competition into the subject, all students have the opportunity to gain exposure to the sorts of issues encountered within the workplace’, said Senior Lecturer Marc Olynyk.
La Trobe’s first place winning team of students Morgan Remilton, Ruby Henderson and Aaron Day, worked together on a submission for the financial planning competition, which saw them travel to Sydney for the finals.
‘The AMP challenge was a very rewarding experience’, said Bachelor of Accounting student Morgan Remilton.
‘It gave us the opportunity to talk to professionals who work in the field of financial planning and it was a wonderful chance to get some hands on experience of the industry, and learn about it in more depth’, said student Morgan Remilton.
Morgan and her team went on to win the competition with their work on a technical quiz and their presentation to a panel of industry judges.
The student team won $5,000, as well as a range of subscriptions to financial industry magazines and membership of the Financial Planners Association for a year.
‘AMP is a highly regarded financial planning firm and this competition win will really stand out as an achievement on our resumes’, said student Morgan Remilton.