CWUBusiness NewsBusiness Newshttps://www.cwu.edu/business/newsen-usAs A Financial Advisor Shortage Looms, College Programs Look to Help Fill the Talent Gaphttps://www.cwu.edu/business/node/3718Tue, 21 May 2019 09:39:58<p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"><img alt="Julie Penwell, CWU personal financial planner student" src="/business/sites/cts.cwu.edu.business/files/pictures/juliepenwell_FinancialPlanning.jpg" style="width: 250px; height: 244px; margin: 3px; float: left;">When Julie Penwell graduates from Central Washington University this spring, she plans to pursue the career she has been dreaming about since she was 15-years-old--that of a personal financial planner.</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">Penwell decided to pursue the profession after a high school financial planning class gave her what she describes as “base level financial literacy” and an insatiable desire to learn more.</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">Now, she is studying for the exam to become a certified financial planner, while working two jobs and serving as the president of her school’s Personal Financial Planning Club.</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">“You get to work with people and help them meet their goals,” Penwell said. “Just the idea of getting to make a difference in someone’s life, that’s what drives my motivation for it.”</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">Penwell, 21, will be one of the first graduates from the new&nbsp;<a href="https://www.cwu.edu/programs/business#2918" style="color: rgb(163, 15, 55);" target="_blank">personal financial planning program</a>&nbsp;at Central Washington University, located in Ellensburg, Washington.</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">The program’s debut comes as the financial services industry at large faces a shortage of new financial planners coming into the field.</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">About 40% of financial advisors plan to retire within the next 10 years, according to Cerulli Associates, a provider of data and research on the financial services industry.</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">That leaves the industry scrambling to find fresh talent to fill those seats.</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">“We are really on the edge of a succession cliff,” said Marina Shtyrkov, wealth management research analyst at Cerulli Associates. “In the next decade, advisor head count is going to begin declining pretty rapidly.”</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">That trend is happening alongside big industry shifts, including the move toward automated financial advice. Big names behind some of those platforms — including Betterment and Vanguard — are promising human financial planners at the other end of their phone lines.</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;">Read this article in its entirety online at&nbsp;<a href="https://www.cnbc.com/2019/05/21/as-financial-advisor-shortage-looms-colleges-look-to-fill-talent-gap.html" style="color: rgb(163, 15, 55);" target="_blank">CNBC.com</a>.</p><p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"><em><span style="font-size: 12px;">Photo: Julie Penwell, 21, plans to pursue a career in financial planning after she graduates from Central Washington University this spring. (Alex Horning, ABH Studios)</span></em></p></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></p style="margin: 0px 0px 10px; padding: 3px 0px 0px; font-family: Roboto, Verdana, Helvetica, Arial, sans-serif; font-size: 16px;"></span style="font-size: 12px;">Shaw Room Changeshttps://www.cwu.edu/business/node/3649Thu, 27 Dec 2018 10:37:06<p>As of January 2019, below are the room changes in Shaw Smyser!</p><p><img alt="" src="/business/sites/cts.cwu.edu.business/files/Flat%20screen%20final.jpg" style="width: 100%;"></p>CWU Names Jeffrey L. Stinson as New Dean of the College of Businesshttps://www.cwu.edu/business/node/3644Mon, 17 Dec 2018 11:21:19<p>CWU Names Jeffrey L. Stinson as New Dean of the College of Business</p><p>Central Washington University has selected Jeffrey L. Stinson as the new Dean of the College of Business.</p><p style="text-align: center;"><img alt="" src="/business/sites/cts.cwu.edu.business/files/images/StinsonJeff.jpg" style="width: 250px; height: 349px;"></p><p>&nbsp;</p><p>“We’re delighted to name Jeff as the new Dean of the College of Business,” said Katherine Frank, CWU’s Provost and Vice President for Academic and Student Affairs. “As the current associate dean of the college, Jeff clearly knows our university and the college, and is well positioned to lead the College of Business into its next phase of development.”</p><p>&nbsp;</p><p>He begins his new position on January 1.</p><p>&nbsp;</p><p>Stinson, who has taught at Central for more than 11 years, has served as associate dean of the College of Business at CWU since 2015 and as director of the Northwest Center for Sport Business since 2012. He was chair of the Department of Management in the College of Business for three years.</p><p>&nbsp;</p><p>“I am honored and excited to be selected as the next Dean of the Central Washington University College of Business,” Stinson said. “Working with an outstanding faculty and staff, we embrace the challenge of living fully into our mission of launching students into career success.”</p><p>&nbsp;</p><p>He added that “Central and the College of Business continue to thrive in a challenging higher education environment by delivering exceptional value to our students and local communities. I look forward to leveraging my 11 years of CWU experience to continuing extending access to our AACSB (Association to Advance Collegiate Schools of Business) accredited programs.”</p><p>&nbsp;</p><p>Prior to joining the faculty at Central, Stinson was an assistant professor of marketing at North Dakota State University in Fargo, North Dakota. He has both an M.B.A. and a M.A. in Recreation and Leisure Studies from the University of Minnesota and a BA in in Sport Studies and Management from Bemidji State University in Minnesota.</p><p>&nbsp;</p><p>“Transforming student lives is at the core of what we do, with the resulting benefits accruing to our graduates, their companies, and their extended communities,” he said.</p><p>&nbsp;</p><p>Media contact: Richard Moreno, Department of Public Affairs, 509-963-2714, Richard.Moreno@cwu.edu.</p><p>&nbsp;</p></p style="text-align: center;">Beta Alpha Psi- Nu Epsilon Chapter Achieves Distinguished Statushttps://www.cwu.edu/business/node/3643Fri, 14 Dec 2018 10:35:13<p style="text-align: center;"><img alt="" src="https://www.cwu.edu/business/sites/cts.cwu.edu.business/files/bap%201.jpg" style="width: 550px; height: 265px;"><br>Congratulations to our very own Beta Alpha Psi- Nu Epsilon Chapter for achieving Distinguished status for 2017-2018! This recognition would not have been possible without the without the efforts and leadership of President Kaili Nance and VP of Reporting Kate Monteith as well as their advisor Jenny Cravens.</p><p style="text-align: center;"><img alt="" src="https://www.cwu.edu/business/sites/cts.cwu.edu.business/files/bap%202.jpg" style="width: 550px; height: 366px;"></p><p>In order to achieve this status each BAP member must fulfill their requirements which include participating in at least 20 hours of professional and service activities throughout the year. We would like to give a special thank you to CWU Accounting and Finance Alumni and Friends who come to campus each year to participate in club sponsored events and activities. Your participation is&nbsp;what makes Beta Alpha Psi meaningful and worthwhile for our students.</p></p style="text-align: center;"></br></p style="text-align: center;">CWU students unveil accessible playground donation to Ellensburg elementary studentshttps://www.cwu.edu/business/node/3641Thu, 13 Dec 2018 18:24:45<p style="text-align: center;"><img alt="" src="/business/sites/cts.cwu.edu.business/files/images/ada%201.jpg" style="width: 800px; height: 533px;"></p><p>ELLENSBURG, Wash. — The season of giving was on full display today, when Ellensburg’s Valley View Elementary School officially unveiled a special gift of a wheelchair swing, made possible by students from Central Washington University.</p><p>The students were enrolled in a CWU College of Business leadership capstone class, which required them to develop and complete a community-enhancement project.</p><p>“They were pretty much all graduating seniors in Business Administration,” said CWU management professor James Avey, the course instructor, who took part in Tuesday’s unveiling.</p><p>“It’s designed to basically be a ‘prove it’ class. Students are given limited guidance and structure. I tell them ‘you’re graduating with a specialization in leadership—prove to me you can lead something.’”</p><p>The project, which initially began last spring quarter, involved raising about $4,000 to allow for purchase and installation of the specialized swing at Valley View.</p><p>“We have the autism and life-skills programs for the entire [Ellensburg School] District so all students with those special needs come to our school,” noted Valley View Principal Rob Moffat at Tuesday’s event. “We now have step one completed in developing a truly adaptive playground, providing opportunities for kids that can’t access the regular playground. The cost of something like this [wheelchair-capable swing] is very expensive. So, to have people willing to donate their money, time, and effort to bring it here is truly appreciated. This will be used well into the future.”</p><p>Hannah Long, 7, a second-grade student at Valley View, who is wheelchair reliant, was the first Valley View student to make use of the new swing, and indicated she enjoyed it. CWU senior Hannah Fallon, from Vancouver, enjoyed watching. She was among the students enrolled in the CWU leadership class. She also helped to drive the project to completion.</p><p>Fallon says the idea for the swing came about after she, and her classmates, saw a video about such a device on the Internet.</p><p>“The child in the wheelchair [swing] just seemed to look so happy and they were pretty much overjoyed to be included in something and have something for them that they could use,” she said. “When we saw that, we were like ‘Wow!’ We want to bring that same statement of inclusivity and happiness to people here in Ellensburg.”</p><p style="text-align: center;"><img alt="" src="/business/sites/cts.cwu.edu.business/files/images/ada%203.jpg" style="width: 550px; height: 873px;"></p><p>They did, including through the help of the Generations of Ellensburg, Kiwanis, and Rotary non-profit, community service organization, which assisted efforts to get the specialized equipment installed ahead of the unveiling.&nbsp;</p><p>Avey added that his class showed incredible perseverance in seeing the project through despite the fact that it was technically completed last Spring.</p><p>“They definitely wanted to finish what they started,” Avey stated. “But they had to navigate logistics in shipping, fundraising, insurance, public-education requirements, installation, and other aspects to do it, and they did. I am super proud of them.”</p><p>Fallon added, “Honestly, I think this was the most ‘real-world’ situation that I’ve ever had to deal with. It was really awesome for me to be able to use all the skills that I’ve learned in the classroom and actually apply them to a project that meant something—in a project that you can actually feel and see the impacts.”</p><p>It wasn’t the only such project for Avey’s capstone leadership class. Those enrolled join small teams, which cast a vision, develop a structure and the necessary roles to accomplish the plan, and then they do it.</p><p>“Most of the projects have had some type of local impact and have included schools, teachers, military servicemen and servicewomen, community gardens, and parks and recreation,” Avey noted. “But, they always surprise me.”</p><p>Other projects have included providing women’s health supplies for trafficked Cambodian girls in a recovery house, raising more than $5,000 for the Children’s Tumor Foundation, and hosting a softball game for children with special needs.</p><p style="text-align: center;"><img alt="" src="/business/sites/cts.cwu.edu.business/files/images/ada%202.jpg" style="width: 550px; height: 338px;"></p><p>Media contact: Robert Lowery, Department of Public Affairs, director of Radio Services and Integrated Communications, 509-963-1487, Robert.Lowery@cwu.edu</p></p style="text-align: center;"></p style="text-align: center;"></p style="text-align: center;">CWU tournament teaches today’s prep students how to become tomorrow’s entrepreneurshttps://www.cwu.edu/business/node/3639Fri, 09 Nov 2018 14:36:19<p><img alt="Many Faces of Entrepreneurship Tournament publicity photo 2018" src="https://www.cwu.edu/business/sites/cts.cwu.edu.business/files/Many%20Faces%20of%20Entrepreneurship%202018.jpg" style="width: 425px; height: 255px; margin: 3px; float: right;">About 300 high school students from throughout south-central Washington will learn how to create, start, and successfully operate a start-up business venture during the 2018 “Many Faces of Entrepreneurship” tournament.</p><p>Held Friday, November 16, at the Yakima County Fairgrounds.</p><p>Dr. Provaznik also brought this program to Kittitas Secondary School October 19th, 2018 for the very first time!</p><p>This is the fourth year of the program, spearheaded by CWU’s Institute for Innovation and Entrepreneurship (I4IE).</p><p>“Hundreds of regional high school students benefitted from previous tournament experience,”<a href="https://www.cwu.edu/business/bill-provaznik" target="_blank"> said Bill Provaznik, I4IE&nbsp;director</a>. “They learned skills, like teamwork, and about universal business concepts, such as marketing and working in a competitive environment, that will eventually help them regardless of what they decide on for their careers.”</p><p>I4IE coordinates and conducts the annual, daylong event to encourage today’s students to learn how to become tomorrow’s entrepreneur.</p><p>“The tournament is for any student with an interest in design, business, or project management,” added Provaznik, who also serves as chair of the CWU College of Business (CB) Department of Management.</p><p>The competition involves student teams, assembled from among the various high schools represented, on the day of the competition, with the goal to help them learn about and develop the skills that entrepreneurs need.</p><p>“Entrepreneurs need to be able to communicate, collaborate, understand what people need, and try to develop solutions that are viable and make them valuable enough that customers will want to buy them,” Provaznik added. “The high school students get a chance to try their hands at all of those aspects in a live simulation. We also want students to meet and work with their peers from other schools as part of the event.”</p><p>The simulation involves developing pet-containment units, for about two-dozen “celebrity pet owners. They Edgar Allan Poe, with his raven; the Man with the Yellow Hat, and Curious George, the monkey; SpongeBob SquarePants, with his pet snail, Gary; and Emily Elizabeth, with Clifford the Big Red Dog.</p><p>“Our student entrepreneurs will need to find out who these pet owners are, and what their needs are, with respect to their pets, and then design and present their ideas for the best containment units,” Provaznik explained. “One of the big takeaways for them will be, when you look at a customer through that person’s eyes, you will be able to see things that they need that you can help with.” Each team will have jobs covering such areas as administration, design, marketing, purchasing, research, and “cross-functional coordinators,” Provaznik explained.</p><p>Half of each of the student teams will comprise the marketing unit. The other half will be product designers. They will have jobs covering such areas as administration, design, marketing, purchasing, research, and cross-functional coordinators.</p><p>“They’re separated because, in most organizations, there’s always a bit of a disconnection between the various units,” Provaznik explained. “We’re trying to provide the students a chance to really see what it’s like when everyone has good ideas, but those ideas aren’t the same. That always causes a little bit of conflict, so our College of Business student mentors will work with them to help the participants learn to communicate and negotiate to resolve their differences.”</p><p>In all, about 70 CWU students will be involved, many of them are enrolled in the CWU entrepreneurship program.</p><p>“They really enjoy working with the high school students, and helping them learn and use about marketing and design concepts, costing and finance, and develop basic communication skills,” Provaznik added.</p><p>The teams will be allowed a budget and can purchase items necessary for their prototypes, through the I4IE stocked “Acme Supply Store,” comprised of items at a dollar store or things left from previous competitions. Duct tape, boxes, and waterproofing.</p><p>“But we also have some components that have been designed by our CWU students that represent items like power packs, lighting, sound systems, watering units, computer processors, sensors, things like that,” Provaznik noted. “So, as the high schoolers settle on a design, they can use technology to distinguish their products from the competition and learn about the costs associated with that.”</p><p>At the tournament’s conclusion, the participating students will present their ideas to a panel of professional mentors and CWU students, who will provide constructive criticism and feedback. Awards will be made to students comprising the winning team.</p><p>The event is supported by the <a href="http://www.hbjfoundation.com/" target="_blank">Herbert B. Jones Foundation</a>.</p><p>Media contact: Robert Lowery, Department of Public Affairs, 509-963-1487, Robert.Lowery@cwu.edu</p><p>Friday, November 9, 2018</p>Boeing Visits the College of Business!https://www.cwu.edu/business/node/3306Wed, 10 May 2017 13:02:59<div style="text-align: center;">The College of Business was happy to have Boeing Representatives come to Central Washington University on October 23, 2018 to discuss internship opportunities with students. The Boeing representatives held an information session where their goal was to promote and encourage underclassman to register for their upcoming 2019 internship opportunities. Boeing will be back on campus in the fall hosting interviews with students in regards to their internship program. This opportunity gave students the chance to know what to expect and how to prepare for this upcoming fall recruitment.</div><div style="text-align: center;"><img alt="" src="/business/sites/cts.cwu.edu.business/files/IMG_1057.JPG" style="width: 515px; height: 343px;"></div><div style="text-align: center;">“A great opportunity for underclassman to prepare for your future with a great company” &nbsp;-Kelley McClung</div><div style="text-align: center;">Three Boeing executives visited accounting and economics classrooms, filled primarily with freshman and sophomore business students. A brief presentation on the proper steps to take when applying for an internship at Boeing was given.<br><br><img alt="" src="/business/sites/cts.cwu.edu.business/files/picture%20.jpg" style="width: 515px; height: 343px;"></div><div style="text-align: center;">An information session was held in the afternoon, where they gave a more detailed presentation on their internship opportunities. They provided pizza and a PowerPoint for the interested students who attended. Students were able to engage and interact with the Boeing representatives during this information session, asking them what specifically they look for in an intern, when to apply, etc.</div></div style="text-align: center;"></div style="text-align: center;"></div style="text-align: center;"></div style="text-align: center;"></br></br></div style="text-align: center;">Northwest Boeing Business Case Competitionhttps://www.cwu.edu/business/node/3222Tue, 22 Nov 2016 17:12:30<h3 style="text-align: center;">&nbsp;</h3><p style="text-align: center;"><img alt="" src="https://www.cwu.edu/business/sites/cts.cwu.edu.business/files/images/boeing.jpg" style="width: 100%;"></p><div style="text-align: center;">On October 18, 2018 the 6th Annual Northwest Business Case Competition had their first round of presentations at the Ellensburg campus. As the Northwest Case Competition kicked off, five teams worked vigorously to complete their presentations in only a week. These five teams mustered up the courage to give their presentation in front of Boeing executives. The judges deliberated and then all teams were brought back together to announce the decision.&nbsp; Congratulations to the Jet Setters on winning this tough round of competition.</div><div style="text-align: center;"><div style="text-align: center;"><img alt="" src="https://www.cwu.edu/business/sites/cts.cwu.edu.business/files/images/lane.jpg" style="width: 800px; height: 533px;"></div></div><div style="text-align: center;">The Jet Setters, consisting of team members Matt VanBrunt, Lane Spenker, Tanya Avramenko, Tim Rukstalis and Jon Cyr, advanced on to the finals where they competed at the Museum of Flight against UW, WWU, and PSU for the regional title. The Jet Setters won and throughout the journey made many connections with employees at Boeing and got to see firsthand the daily operations of the Boeing facility in Renton. They have the option to&nbsp; continue competition in Denver, Colorado in January. Thank you to all of the teams that participated in this event. We look forward to next year's competition!&nbsp;&nbsp;</div><div style="text-align: center;">&nbsp;</div><p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p></h3 style="text-align: center;"></p style="text-align: center;"></div style="text-align: center;"></div style="text-align: center;"></div style="text-align: center;"></div style="text-align: center;"></div style="text-align: center;">