New Texas Tech Complex To Train Students on Financial Planning Software
- By Dian Schaffhauser
- 03/09/09
Texas Tech University College of Human Sciences has opened a new complex on its Lubbock campus dedicated to the topic of personal financial planning. The new Charles Schwab Personal Financial Planning Technology Complex contains what the college calls the "largest collection of professional software in any collegiate financial planning program in the United States." The facility houses a technology classroom, technology work lab, and resource workspace that will be used by students in the university's Division of Personal Financial Planning.
"Schwab has given us the opportunity to focus on experiential learning at the university level so that graduates of the program are ready to work from day one," said Deena Katz, associate professor and coordinator of this initiative. "This can only be a gigantic boost for advisors who need good, skilled people now."
In October 2007, Charles Schwab Foundation made a $1 million pledge to the university, which was used to build the new complex and fund a research scholar who will conduct research on financial planning jobs. The company provides custodial, operational, and trading support for 5,500 independent investment advisory firms.
The new facility will give students experience with the technological aspects of financial planning, including client portfolio management, reporting, and customer relationship management. The company also donated its PortfolioCenter portfolio data management software to the facility, which is being taught in an advanced technology course.
The center will also support Texas Tech's existing Student Managed Portfolio program, which gives students a chance to manage actual dollars and get experience in the area of money management, as well as its "Red to Black" program where students provide free financial counseling and planning services to students and families in the community.
About the Author
Dian Schaffhauser is a former senior contributing editor for 1105 Media's education publications THE Journal, Campus Technology and Spaces4Learning.