Hands-on learning abounds in Harbert Investment Center’s student organizations

If you’re a student studying finance in the Harbert College of Business (HCOB), there are plenty of ways to put your classroom knowledge into practice before graduation. 

“The bottom line is that if you come to Auburn and want practical application experience in finance, you have avenues,” said Professor of Practice Tracy Richard. “Every student can easily access experiential learning.” 

Richard oversees two of the three student organizations in the Harbert Investment Center, a hub for research, outreach and co-curricular initiatives in the Department of Finance. Under the guidance of Albert Wang, director of research, and Joseph Stover, director of outreach, the center connects students and faculty with the finance industry, academic partners and the broader community.  

And as for the experiential learning opportunities — well, there are quite a few. There is an endless supply of programming from the center’s three student groups:  

• Auburn Finance Society (AFS), which is open to students from all majors; 
  

• The Financial Management Association National Honor Society (FMA), which accepts roughly 55 high-achieving students per year; 
  

• And the Auburn Student Investment Fund (ASIF), comprised of FMA’s junior year cohort and a leadership board of FMA seniors.  

AFS: Auburn Finance Society 

Program Champion Mandy Harrelson serves as a liaison between the finance industry and Auburn students in AFS. The organization offers activities, training and educational excursions for three different areas of focus: students interested in derivatives take a trip led by Senior Lecturer Jeffrey Hart to the Chicago Board of Trade, those interested in banking visit the Federal Reserve Bank of Atlanta with Professor of Practice Damion McIntosh and students in wealth management visit firms in a different city each year. 

In addition to these site trips, AFS members attend networking events, presentations from industry executives and industry-specific training and certifications.  

Students from any major are welcome to join and can become as involved as they want, something Harrelson encourages.   

“We welcome all students, but you have to be willing to work,” she said. “We want students that desire more beyond the classroom and who have a thirst to grow.” 

FMA: Financial Management Association 

For finance majors wanting to take their development to the next level, FMA offers a selective honors-style experience. Students apply through a two-round interview process, and those selected participate in a semester-long training covering everything from basic accounting to advanced subjects like discounted cash flow analysis and financial modeling. The training wraps up with a stock pitch presentation and a closing interview. 

“We met twice a week during the spring semester, so I basically treated it like a class,” said Jackson Abrams, one of the newest members of FMA. “We had quizzes and lessons to work on outside of class, and the exit interview at the end of the semester was like a final exam.” 

This past spring, Abrams was one of 50 students accepted from a pool of 300 applicants. As a member of FMA, he and the others in his cohort have access to one-on-one study hours, day-long practical application training, an annual leadership summit, educational forums, employer meet-and-greets and visits to corporate headquarters. 

“We hold mock interviews and networking events, assist students with cover letters, host forums on topics like leveraged finance and oil and gas banking and bring in industry executives to lead full-day training bootcamps focused on real-world applications,” Richard said. “Our goal is to replicate as much real-life experience as possible. It’s just a great student experience — it’s rigorous but rewarding.” 

ASIF: The Auburn Student Investment Fund  

ASIF is an opportunity for each cohort in FMA to learn about asset management by overseeing the investment of a seed fund — one that began with $250,000 in 2017 and has grown to roughly $830,000 since. As juniors, students in ASIF take a full year of coursework on research and portfolio management. The organization is led by an executive board comprised of seniors who apply their knowledge from the previous year to guide the new cohort. 

FMA and ASIF members also enter case competitions, where they analyze industry research to evaluate potential acquisitions. Last year they beat out competitors like Harvard and Penn to win four of the 12 competitions they entered.  

And these experiential learning opportunities are paying off big time for students. FMA and ASIF members have a 100% job placement rate for both internships and full-time employment, with an average starting salary of $153,000. Thanks to the hands-on experience students receive in investing, along with a focus on stewardship and mentorship, they are more than prepared to succeed in the finance industry.  

“By the time they graduate from Auburn, they know how to build models and manage a portfolio,” Richard said. “But it’s more than just technical skills; they pay attention to detail, work hard and bring strong presentation and case competition experience to the table. They’re responsible and extremely talented.”