February 21, 2012
The students, Boyce, Veloz, Storey, and Davis, chose to research compliance issues surrounding the use of social media for practicing financial service professionals.
Placing second nationally, four Texas Tech financial planning students were awarded $2,000 at the Financial Service Professionals National Industry Issues Competition for their research on social media within the financial services industry.
Department of Personal Financial Planning students Tyler Boyce, Nathan Davis, Jacob Storey and Paulina Veloz submitted their paper to be judged by a panel of highly recognized financial professionals and received notification they were one of the three finalist teams.
As finalists, the students made an oral presentation in Phoenix to a panel of judges from among the Foundation for Financial Services Professional institute attendees.
John Gilliam, assistant professor, said the team chose to concentrate their research on compliance issues surrounding the use of social media for practicing financial service professionals.
“A unique part of their presentation was relating personal experiences of how they witnessed the use of social media in financial planning firms where they had interned,” Gilliam said.
Storey said the team’s “hot-topic” research touched on the important issue financial advisors face in trying to integrate into the workforce.
“Businesses are trying to implement social media to take advantage of this quick, easy, and free marketing aspect to yield their businesses,” he said. “Many businesses don’t necessarily know how to implement social media because of certain constraints placed on them by regulatory agencies. Being able to talk with other financial planners, prospective employers and mentors about relevant issues will only increase our chances of finding employment upon graduation.”
Gilliam and Storey agreed the opportunity to present the team’s findings to a group of financial service professionals was an invaluable experience.
“Bringing home scholarship money was a bonus,” Storey said. “We enjoyed the opportunity to represent Texas Tech and demonstrate the education we are receiving.”
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