Three teams from the AHS Economics Club competed in the National Financial Advisory Competition. For the first time in three years, four members traveled to the San Francisco Federal Reserve in Los Angeles to present in person. The other two teams competed virtually via Zoom.
The teams analyzed a case study, which outlined a fictional family’s financial situation. The students created a long-term plan for the family. Real financial advisors consulted with each group. The teams overcame various problems faced by their fictional families, such as mortgages, credit card debt, and lack of education.
Students began preparing two months in advance of the competition. Senior Shea Lyons, who competed virtually, said, “We spent a lot of time looking into investment accounts, especially Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs)”.
The in-person team lost narrowly to the winning team in the semi-finals and took fourth place overall. The team was made up of members Rory Bickmore, Bryson Meyer, Bodhi Jennings, and Mason Blair. They presented to a panel of investment bankers, financial analysts, and financial advisors.
Jennings, a senior, credited the team’s success to their partner financial advisor. “Cynthia was amazing. She helped us create spreadsheets for all of our data and create all kinds of predictions,” he said. The members were able to actually meet up with Cynthia in LA to prepare for their presentation. “I think that the best piece of advice Cynthia gave us was to use calculations to back up all of our projections,” Jennings said.
After their first experience competing, the club is looking forward to improving their skills and placing better at the next competition.
The Econ Club meets every Thursday at lunch and will continue to compete throughout the year. “I would really recommend the club to people taking economics, otherwise you might be a little confused,” said Lyons.
Macroeconomics class studies the market as a whole and learns about how supply and demand affect it. The competitions are all different, some focus on personal finance, some on the stock market, and some on economics. While being in AP Macro might help, students can still come to the club without being in the class. Senior Bryson Meyer said, “The competition had a lot more to do with investing savings than macroeconomics. I feel like I know a lot more about how to invest my money now.”
