Investment Management Certificate Program
Students in the Lubar College’s Investment Management Certificate Program (IMCP) work on real portfolios while earning their degrees. Our CFA Institute University Affiliation program emphasizes the philosophy that students learn by doing.
Through a rigorous curriculum that puts a premium on applied finance opportunities, students learn the roles of sell-side analyst, buy-side analyst, credit analyst, investment banker, performance and risk manager, institutional sales, financial planner, and portfolio manager, along with the skills necessary for many other roles in finance.
The IMCP is taking learning to the highest levels. We have collaborated with Dana Investment Advisors, the #4 ranked wealth manager by CNBC, where the Panther Value Fund is used as a model for the Wisconsin Value Fund – used for client portfolios at Dana.
Program Type
Undergraduate Certificate, Graduate Certificate
Program Format
On Campus
Our Students
- Through active management of real-money portfolios, students work on around $12 million in real portfolios, including internal management of around $6 million in assets.
- All students (100% placement rate) secure internships as part of the Certificate. Additionally, students may choose to have a second internship in client-relationship roles for the Wisconsin Value Fund at Dana Investment Advisors.
- Are trained in a Chartered Financial Analyst (CFA) Institute University Affiliation Program that prepares them for and encourages them to sit for the CFA Level I examination.
- Engage regularly with investment professionals inside and outside of the classroom.
- Have access to top flight investment analytical tools, work on real projects, and participate in competitions.
- Travel to some of the world’s largest financial centers to learn from working investment professionals.
If you’re fascinated by how individuals and organizations grow wealth through investment portfolios, the Investment Management Certificate Program will challenge you with an intense, extended, applied educational opportunity.
As an IMCP student, you’ll carry out all of the duties that professional investors do – leaving the program with analyst-level skills. You learn the role of the sell-side analyst, buy-side analyst, investment banker, performance and risk manager, institutional sales, financial planner, and portfolio manager.
You will:
- Be part of a team that works on around $12 million in real portfolios and complete project work for the highly regarded Dana Investment Advisors
- All students (100% placement rate) secure internships as part of the Certificate. Additionally, students may choose to have a second internship in client-relationship roles for the Wisconsin Value Fund at Dana Investment Advisors
- Be trained in a Chartered Financial Analyst (CFA) Institute University Affiliation Program (undergraduate IMCP curriculum) where you are prepared for and encouraged to sit for the CFA Level I examination
- Meet regularly with investment professionals inside and outside of the classroom, and students receive free attendance at CFA Society of Milwaukee events
- Have access to top flight investment analytical tools, equivalent to a multi-billion dollar asset manager
- Work on real projects, participate in competitions (CFA stock challenge, ACG Cup mergers and acquisitions challenge) and complete either Wall Street Prep or Adventis Financial Modeling bootcamp
- Travel to some of the world’s largest financial centers including Chicago and New York, and in some years Boston, London, or the Berkshire Hathaway Annual Meeting
Over $90,000 in scholarships are available to IMCP students to offset tuition. Students also receive $1,500 towards IMCP-related travel expenses, and some may receive funds for CFA examination fees.
Program Highlights
Students can complete the IMCP as part of an undergraduate degree, graduate degree (MBA and MS-Finance Analysis are common), or as a standalone graduate certificate. They may also begin the certificate curriculum as an undergraduate finance major and complete it as a graduate student in the MS-Finance program through our accelerated master’s program.
Undergraduate Course Requirements
| Course Number | Course Title | Credits |
|---|---|---|
| BUS ADM 454 | Analysis of Options and Futures* | 3 |
| BUS ADM 457 | Financial Modeling* | 3 |
| BUS ADM 550 | Investment Management Practice I* | 3 |
| BUS ADM 552 | Investment Management Practice II | 3 |
| BUS ADM 553 | Investment Management Practice III | 3 |
| BUS ADM 554 | Investment Management Practice IV | 3 |
| Total | 18 |
Undergraduate Course Descriptions
Study institutional setting, legal framework, portfolio strategies, and innovations in investment markets. Explore securities valuation, risk management, behavioral study, and prospects of market developments. Prereq: jr st; advancement to Bus Adm major; Bus Adm 451.
Valuate interest rate, equity, and stock index futures and options. Develop strategies using these instruments in hedging interest rate and equity portfolio risk. Prereq: jr st and advancement to Bus Adm major; Bus Adm 451.
Development and application of computer-based financial models. Models from corporate finance and investments use Microsoft Excel and Visual Basic for Applications (VBA). Prereq: jr st & advancement to Bus Adm major; Bus Adm 450(P) & 451(P).
Introduction to real-time and historic data sets and analytical software available in the David O. Nicholas Applied Finance Lab. Utilize Bloomberg and FactSet. Produce a stock report, including analysis of drivers, financial statements, and valuation. Prereq: jr st, admission to Investment Mgmt Cert program, Bus Adm 450(C); or grad st, admission to Investment Mgmt Cert program, Bus Adm 705(C).
Introduction to the real-time and historic data sets available in the David O. Nicholas Applied Finance Lab. Utilize Bloomberg, FactSet, and other analysis packages. Prereq: jr st, admission to Investment Mgmt Cert program and Bus Adm 451; or grad st, admission to Investment Mgmt Cert program and Bus Adm 771.
Students manage an investment portfolio utilizing the David O. Nicholas Applied Finance Lab. Topics include securities selection, portfolio hedging, behavioral finance, and financial market events. Prereq: jr st, admission to Investment Mgmt Cert program & Bus Adm 552; or grad st, admission to Investment Mgmt Cert program and Bus Adm 552.
Students independently conduct special study to assist individual future professional development and gain maturity and confidence in real world investment management. Prereq: jr st, admission to Investment Mgmt Cert program and Bus Adm 553; or grad st, admission to Investment Mgmt Cert program and Bus Adm 553.
Graduate Course Requirements
| Course Number | Course Title | Credits |
|---|---|---|
| BUS ADM 550G | Investment Management Practice I | 3 |
| BUS ADM 552G | Investment Management Practice II | 3 |
| BUS ADM 553G | Investment Management Practice III | 3 |
| BUS ADM 554G | Investment Management Practice IV | 3 |
| BUS ADM 772 | Portfolio Management*,** | 3 |
| BUS ADM 773 | Options and Futures* | 3 |
| BUS ADM 853 | Financial Modeling* | 3 |
| Total | 21 |
**Students may substitute MBA degree, other MS in Management, and Masters in Economics courses.
Graduate Course Descriptions
Introduction to the real-time and historic data sets and analytical software available in the David O. Nicholas Applied Finance Lab. Utilize Bloomberg and FactSet. Produce a report on a stock, including analysis of drivers, financial statements, and valuation. Prereq: grad st, admission to Investment Mgmt Cert
program, Bus Adm 705(C).
*Approved MS in Finance Analysis elective.
Investment Management Practice II. Use of real-time and historic data sets available in the David O. Nicholas Applied Finance Lab such as Bloomberg, FactSet, and other analysis packages to analyze securities and prepare to manage portfolios. Prereq: grad st, admission to Investment Mgmt Cert program & Bus Adm 550(P), Bus Adm 301(C) or 721(C); 771(C).
Students manage investment portfolios utilizing the David O. Nicholas Applied Finance Lab. Topics include securities selection, portfolio positioning, performance and risk analysis, and financial market events. Prereq: grad st, admission to Investment Mgmt Cert program and BUS ADM 552.
Students manage investment portfolios utilizing the David O. Nicholas Applied Finance Lab. Special topics covered to assist individual future professional development and gain maturity and confidence in real world investment management. Prereq: grad st, admission to Investment Mgmt Cert program and BUS ADM 553.
Study of dynamic process that periodically matches investors’ goals, objectives, and strategies with market expectations through portfolio construction and revision. Covers asset allocation, return optimization, and management of various asset types. Prereq: grad st; BUS ADM 771.
*Approved MS in Finance Analysis elective.
**Students may substitute MBA, other MS in Management, and Masters in Economics courses.
Pricing theories and models for options and futures contracts and their application to investment hedging, arbitrage, and portfolio management. Covers equity, fixed income, commodity, and currency options and futures. Prereq: grad st; BUS ADM 771.
*Approved MS in Finance Analysis elective.
Development and advanced application of computer-based financial models including pricing of exotic derivative securities. Prereq: grad st, BUS ADM 771.
*Approved MS in Finance Analysis elective.
Timetable & Calendar
If planned early and well, there are no extra credits to graduate as an undergrad. Students
recognize theory and learn how to apply it in practice over 21-months through real work in 550,
552, 553, and 554!
First Summer: Orientation
Four days when students meet new friends, learn about the industry, begin researching a
stock and learn investment software, update their resume, etc.
First Fall Semester: Bus Adm 550
Learn investment software in the Nicholas Applied Finance Lab. Analyze business drivers,
financial statements, and valuation for a Wisconsin firm and create a high-quality sell-side
stock pitch that exemplifies your security analysis skills to employers.
First Spring Semester: Bus Adm 552
Portfolio management training. Learn institutional portfolio investment approaches and
performance and risk analysis. Participate in the ACG Cup (investment banking competition).
Complete either the CFA Research Challenge (stock research) or a hedge fund simulation
(CQA competition) begun in 550.
Second Summer: Internship and Training
Professional internships normally take place over the summer but may also occur during the
school year. Oversee IMCP portfolios and meet in an online not-for-credit seminar.
Second Fall Semester: Bus Adm 553
Manage three live buy-side portfolios: (1) research securities (security analysis), (2) analyze
country macro conditions (investment strategy), and (3) monitor performance and risk. Students
are “on the job” and make the decisions subject to guidelines. Class topics: bonds, investment
strategy, and other topics. Join Dana Investment Advisors in a client relations internship role.
Second Spring Semester: Bus Adm 554
Continue to manage portfolios and complete projects such as quantitative investment
research, private firm business valuations (investment banking), the Wisconsin indices, etc. Class topics: behavioral finance, forensic accounting, quantitative investment and factor analysis, ESG and other topics. Join Dana Investment Advisors in a client relations internship role.
Two or Three Additional Certificate Courses
Undergraduate students complete portfolio management (Bus Adm 452) and graduate
students have the choice of portfolio management (Bus Adm 772) or another graduate
business or economics course (the Macro Specialist Designation course or Python is
encouraged). Learn derivatives (Bus Adm 454/773) and complete financial modeling (Bus
Adm 457/853). Students may (grad required) perform portfolio analysis for Elmbrook Humane
Society as part of Bus Adm 550, 552, 553, and 554. All students also complete Wall Street Prep
or Adventis Financial Modeling bootcamp.
Complete Intermediate Accounting (301/721) and Investment Finance (451/771) as soon as
possible or as a co-requisite to Bus Adm 552. 301/721 are waived if you pass the CFA Level I exam.
Preparing for Application
Students can contact Dr. G. Kevin Spellman, CFA, 608-334-2110 to discuss pre-requisites and admission requirements. Students are also encouraged to gain experience by participating in the Student Investment Club. The first course in the IMCP is BUS ADM 550 during the fall semester, and the co-requisite for undergraduates is 450, admission to major, and a successful application process. The co-requisite for graduate students is 705 and a successful application process.
Year 1
During the first year, students write high-quality reports on stocks and pitch them to investors. They learn to analyze business drivers, model financial statements, and value securities. Business professionals have called their reports “impressive.” They also learn the professional analytical software available to them in the Nicholas Applied Finance Lab. Finally, they have training in portfolio management, which prepares them for their work on over $7 million in assets.
Summer: Internship and Training
Students engage in professional internships and/or projects. They also monitor the investment funds, which transition to them in May from the prior student teams. Students meet online in a non-credit portfolio management seminar where the funds are discussed and students analyze performance and risk.
Year 2
If not completed earlier, students have courses in portfolio management (Bus Adm 452/772), derivatives (Bus Adm 454/773), and financial modeling (Bus Adm 457/853).
Students devote substantial time to researching securities in their assigned sectors / countries and monitoring performance and risk. While enrolled in Bus Adm 553 and 554, students actively manage real-money portfolios. Students meet regularly with the IMCP Advisory Council (the “client”) to discuss each fund’s investment approach, performance/risk, sector and security positions, characteristics, portfolio evolution, current strategy, and a security to illustrate the approach.
Students may also complete a project for a local business, such as a private business valuation, which is presented to management.
Job Placement
Job placement for IMCP students is close to 100% within three months of graduation. We speak with you about job strategies in your first semester and throughout the program.
Competitions
Students compete in several inter-university competitions including but not limited to the ACG Cup (investment banking), CFA Competition (investments), CQA competition (investments), and the Duff & Phelps Competition (investment banking).
Wisconsin 30 Index
The Wisconsin 30 Index tracks the 30 largest Wisconsin companies by market cap, equal-weighted and annually rebalanced. Reports were created by students in UWM’s Lubar College of Business Investment Management Certificate Program.
Portfolio Management
Second-year students in the Investment Management Certificate Program manage around $6 million across three portfolios, developing investment policies, analyzing securities, and defending strategies to professional investors. In addition, they also provide portfolio analysis for Elmbrook Humane Society’s, approximately $6 million in assets.
Support & Advisory Council
The Investment Certificate Management Program benefits from strong support by investment professionals from Wisconsin and beyond, who serve as client evaluators for student presentations, guest speakers, and donors for facilities and programs.
High-Quality Investment Research, Software, and Data
The Nicholas Applied Finance Lab, made possible by a $2.5 million gift from finance graduate and Nicholas Company President David O. Nicholas, gives students hands-on access to the same professional-grade tools and data used by real-world money managers.
For Employers
The Lubar College of Business Investment Management Certificate Program (IMCP) is a CFA Institute University Recognized program that selects high-integrity students and prepares them for careers in investment management.
Alumni
IMCP alumni build lasting professional networks through their cohort bonds and ongoing program-sponsored events and webinars, going on to work across investment firms, major banks, research firms, corporations, and government organizations nationwide.
Defining Markets Conference
The IMCP organizes the Defining Markets Conferences each year for the community. The conference series focuses on major events shaping the economy, business, and markets, with the goal of helping attendees better position their portfolios and businesses.
Macro Specialist Designation
The Lubar College of Business is now offering the course Macro Specialist Designation, a course that will prepare you to take the Level 1 exam for the M²SD. The Lubar College is one of only three universities in the world teaching this course.
The Investment Management Certificate Program (IMCP) is headed by an investment industry veteran and benefits from outstanding faculty in finance, investments, and related areas. A supportive investment community and Lubar alumni enhance the classroom experience as guest speakers and program advisers.
Director
- Professor of Practice, Finance
- David O. Nicholas Director, Investment Management
- spellman@uwm.edu
- 608-334-2110
- Lubar Hall S430F
Instructors, Mentors & Support
Brian Pinsker
Founder & Portfolio Manager, 11:11 Capital
pinsker@uwm.edu
Brian Founded 11:11 Capital and is a portfolio manager. This was in partnership with Millennium, a well-known large hedge fund.
Previously, Brian headed up JP Morgan’s North American equity prop trading desk, and during his time at the firm he was JP Morgan’s most profitable trader globally. He was the first portfolio manager hired by Viking Global, where he founded Vikings healthcare investing initiatives. Brian started as an investment banker at Baird and then moved to the sell-side at Vector (small Chicago firm) before becoming an analyst at Putnam and Moore Capital.
He has a Bachelor of Science degree from UW-Madison and an MBA from Yale University.
Kevin Silverman, CFA
Portfolio Manager, Carmel Capital Partners
Founder, Madison Partners
silvermk@uwm.edu
Kevin has over two decades of experience as a small-cap value equity manager, earning PSN/Informa Manager of the Decade titles for the 10-year periods ended 2020, 2021 and 2022.
Prior experience includes a decade as CIO at a Sterling Partners subsidiary, SPEA, and family office Third River Capital, LLC., and manager of a start-up 40-Act fund at Falcon. Kevin started his career on the equity team at Harris Associates/Oakmark, and went to spend 15-years as a sell-side analyst at Kemper Securities and then ABN Amro, after which he joined as an industrial/consumer analyst on a 5-star $5 billion ABN Quality Growth Fund.
Kevin has an MS-Finance ASAP, and a BBA-Finance & Marketing from UW-Madison.
Traci Graves
Administrative Professional
gravestl@uwm.edu
Traci is retired and was Coach’s executive assistant when he was director of research managing a 17-person analyst team, budgets, and a $7 billion portfolio at the State Teachers Retirement System of Ohio, which now manages about $100 billion. Traci kept things running, working on over $3 million in budgets, working on the many million-dollar commission allocation process, administering the investment morning meetings, and completing numerous other projects.
Guest Speakers
Guest speakers provide added depth to issues discussed in the applied curriculum, addressing a wide range of topics, including compliance, fixed income, the state of the industry, stock screening, trading and quantitative investments. Our strong roster of guest speakers has included: Anthony Campagna, Senior Manager, Capital Group; Lawrence Davanzo, retired President and Vice-Chairman of the Board, Wilshire Associates; Ian Elfe, Senior Investment Analyst, Robert W. Baird; Jason Krueger, Portfolio Oversight Analyst, Artisan Partners; and Ryan Hamilton, Portfolio Manager, Morgan Dempsey.
All Finance Faculty
- Executive in Residence, Finance
- Dream Exchange Director
- craigl@uwm.edu
- 414-251-6545
- Lubar Hall
- Hans G. Storr Associate Professor, Finance
- ivfloros@uwm.edu
- 414-229-4369
- Lubar Hall S430A
- Teaching Assistant Professor, Finance
- Director, Financial Planning Certificate Program
- reinholl@uwm.edu
- 414-251-6303
- Lubar Hall S436
- Professor of Practice, Finance
- David O. Nicholas Director, Investment Management
- spellman@uwm.edu
- 608-334-2110
- Lubar Hall S430F
- Professor of Practice, Real Estate
- Director, Real Estate Program
- cmvenne@uwm.edu
- 414-251-6654
- Lubar Hall S461
The Investment Management Certificate Program (IMCP) is headed by an investment industry veteran and benefits from outstanding faculty in finance, investments, and related areas. A supportive investment community and Lubar alumni enhance the classroom experience as guest speakers and program advisers.
Director
- Professor of Practice, Finance
- David O. Nicholas Director, Investment Management
- spellman@uwm.edu
- 608-334-2110
- Lubar Hall S430F
Instructors, Mentors & Support
Brian Pinsker
Founder & Portfolio Manager, 11:11 Capital
pinsker@uwm.edu
Brian Founded 11:11 Capital and is a portfolio manager. This was in partnership with Millennium, a well-known large hedge fund.
Previously, Brian headed up JP Morgan’s North American equity prop trading desk, and during his time at the firm he was JP Morgan’s most profitable trader globally. He was the first portfolio manager hired by Viking Global, where he founded Vikings healthcare investing initiatives. Brian started as an investment banker at Baird and then moved to the sell-side at Vector (small Chicago firm) before becoming an analyst at Putnam and Moore Capital.
He has a Bachelor of Science degree from UW-Madison and an MBA from Yale University.
Kevin Silverman, CFA
Portfolio Manager, Carmel Capital Partners
Founder, Madison Partners
silvermk@uwm.edu
Kevin has over two decades of experience as a small-cap value equity manager, earning PSN/Informa Manager of the Decade titles for the 10-year periods ended 2020, 2021 and 2022.
Prior experience includes a decade as CIO at a Sterling Partners subsidiary, SPEA, and family office Third River Capital, LLC., and manager of a start-up 40-Act fund at Falcon. Kevin started his career on the equity team at Harris Associates/Oakmark, and went to spend 15-years as a sell-side analyst at Kemper Securities and then ABN Amro, after which he joined as an industrial/consumer analyst on a 5-star $5 billion ABN Quality Growth Fund.
Kevin has an MS-Finance ASAP, and a BBA-Finance & Marketing from UW-Madison.
Traci Graves
Administrative Professional
gravestl@uwm.edu
Traci is retired and was Coach’s executive assistant when he was director of research managing a 17-person analyst team, budgets, and a $7 billion portfolio at the State Teachers Retirement System of Ohio, which now manages about $100 billion. Traci kept things running, working on over $3 million in budgets, working on the many million-dollar commission allocation process, administering the investment morning meetings, and completing numerous other projects.
Guest Speakers
Guest speakers provide added depth to issues discussed in the applied curriculum, addressing a wide range of topics, including compliance, fixed income, the state of the industry, stock screening, trading and quantitative investments. Our strong roster of guest speakers has included: Anthony Campagna, Senior Manager, Capital Group; Lawrence Davanzo, retired President and Vice-Chairman of the Board, Wilshire Associates; Ian Elfe, Senior Investment Analyst, Robert W. Baird; Jason Krueger, Portfolio Oversight Analyst, Artisan Partners; and Ryan Hamilton, Portfolio Manager, Morgan Dempsey.
All Finance Faculty
- Executive in Residence, Finance
- Dream Exchange Director
- craigl@uwm.edu
- 414-251-6545
- Lubar Hall
- Hans G. Storr Associate Professor, Finance
- ivfloros@uwm.edu
- 414-229-4369
- Lubar Hall S430A
- Teaching Assistant Professor, Finance
- Director, Financial Planning Certificate Program
- reinholl@uwm.edu
- 414-251-6303
- Lubar Hall S436
- Professor of Practice, Finance
- David O. Nicholas Director, Investment Management
- spellman@uwm.edu
- 608-334-2110
- Lubar Hall S430F
- Professor of Practice, Real Estate
- Director, Real Estate Program
- cmvenne@uwm.edu
- 414-251-6654
- Lubar Hall S461
Request Information
For more information about this program, please reach out directly to the program director, Kevin Spellman.
Dr. G. Kevin Spellman, CFA
David O. Nicholas Director of Investment Management
Professor of Practice, Finance
Lubar Hall S442
608-334-2110
spellman@uwm.edu
Apply as early as a sophomore, but you can also be junior, senior, or a returning graduate student. Complete the IMCP with an undergraduate or graduate degree (MBA and MS-Finance Analysis), a graduate certificate, or with an accelerated master’s degree (starting as undergraduate).
Will you commit to being the best that you can be? You do not need to be a whiz at investments (you need to add, subtract, multiply, and divide), but you do need a strong work ethic and interest in finance.
We enroll new students every fall (only), and the co-requisite for the first course Investment Practice Management I (Bus Adm 550) is corporate finance (Bus Adm 450 (UG)/Bus Adm 705 (GRAD)). 550 is a junior-level or graduate course, but we have options for learning beforehand. We encourage you to complete Company Stock Analysis (Bus Adm 295 (UG)/795 (GRAD)) before 550, as it is a good warm-up as you learn to analyze a stock and learn from many professionals who teach and guest speak in the course. Also, you can join the Student Investment Club and take the Macro Specialist Designation course Bus Adm 395/795.
First Application Deadline:
December 1 (Rolling Admissions So Apply Early!)
PRE-IMCP
(not required) Bus Adm 295/795 Company Stock Analysis (group research on a stock and guest speakers across the industry)
(not required) Join Student Investment Club that is open to all students, and consider continuing and leading it as an IMCP student
YEAR 1
Summer
- IMCP Orientation
Fall
- Sell-Side Stock Report on
Wisconsin Firm (Start) - Wall Street Prep or Adventis
Financial Modeling Certification - CFA Research Challenge (Start)
- CQA Competition (Start)
Spring
- Sell-Side Stock Report (Finish)
- Portfolio Training
- ACG Cup (M&A competition)
- CFA Research Challenge (Finish)
- CQA Investment Challenge
(Finish) - Chicago and/or Milwaukee Trip
YEAR 2
Summer
- Internship (may continue during school year or may take place or begin before the summer)
- Oversight of funds
Fall
- Management of Funds
- Portfolio Client Meeting(s)
Spring
- Management of Funds (Continues from Fall)
- Portfolio Client Meetings
- Group Projects
- New York Trip
OTHER
- Student Investment Club
- Biennial Milwaukee Brewers Outing
- Biennial Defining Markets Conference
- CFA exam & M2SD exams
- CFA Ethics Seminar
- On occasion, Berkshire Hathaway Annual Meeting or London Trip
About the Investment Management Certificate Program
Internships & Careers
The summer between the first and second years of the program is the ideal time for students to engage in professional internships and/or projects in investments, financial analysis, financial planning, and other investment- and corporate-related roles. The program helps facilitate connections and prepare students for the rigorous interview process with 100% placement into experience building internships.
Additionally, students may choose to have a second internship in client-relationship roles for the Wisconsin Value Fund at Dana Investment Advisors. In these roles, students pitch the Fund to potential new institutional and individual clients and serve current clients. This may include monitoring the funds during all market hours and communicating investment theses behind the ownership of various securities (stocks and bonds) and portfolio details.
IMCP graduates will have a substantial competitive edge in pursuing careers post-graduation in various types of organizations in roles that include, but not limited to:
- investment analysts
- financial analysts
- investment advisors
- investment bankers
- credit analysts
- and other roles in finance and accounting.
Each year, many firms hire from the IMCP. Some are local, others national, some international, and some local with a national or international presence. Large firms such as Baird and Northwestern Mutual hire IMCP graduates most years. Alumni also hold positions with top-ranked, sell-side analysts (including Institutional Investor Magazine Hall of Fame investment strategist Francois Trahan), and have gone to firms such as Goldman Sachs, UBS, and Citigroup. These are all great organizations, but so are other firms and smaller organizations where you may have an opportunity to have a large impact.
David O. Nicholas Applied Finance Lab
The Nicholas Applied Finance Lab (established through a generous $2.5 million gift from David O. Nicholas, President of Nicholas Company, who is a 1987 graduate of the Lubar College’s graduate program in finance) gives students hands-on access to leading-edge analytical software, research and data — the same tools that professional money managers use.
Analytical Resources include:
Research Resources include:
- Robert W. Baird
- Bank Credit Analyst
- Couoloir Captial
- CreditSights
- Evercore ISI
- Fundamental Research Corp.
- JP Morgan
- The Leuthold Group
- Merrill Lynch
- Morgan Stanley
- Morningstar
- Piper Sandler
- Sidoti & Company
- Standard & Poor’s
- Topdown Charts
- UBS
Data provided by:
- FactSet
- FTSE Russell
- Standard & Poor’s
$12 Million in Portfolios & Wisconsin Value Fund
IMCP students work on portfolios of around $12 million in assets and form three teams to manage about $6 million in internal funds. Our students have sole discretion for the internally managed portfolios, subject to “doing their homework” on securities and following an investment policy and portfolio construction specifics. They hold multiple meetings each year with a group of professional investors who represent a sophisticated “client.” At these client meetings, each portfolio team presents its philosophy and process, investment strategy, portfolio performance and risk, portfolio evolution, and on a security which reflect its approach to investing.
The Wisconsin Value Fund is modeled after the internal Panther Value Fund that students manage. Dana Investment Advisors manages this fund for clients, but students are involved through internships, working with clients, and providing them with portfolio and investment information.
Professional Connections & Community Involvement
Students meet regularly with investment professionals during and outside of class for discussion of the funds, markets, and other topics. Many dozens of top investment professionals generously commit their time each year as mentors, guest speakers, IMCP Advisory Council members, corporate visit hosts, business project providers, student competitions (CFA stock challenge, ACG Cup mergers and acquisitions challenge) and in other capacities. Students also have access to the IMCP alumni network, and we hold a biennial Milwaukee Brewers tailgate event and a biennial Defining Markets Conference.
The IMCP serves the community, and the community gives back. Through collaboration with Dana Investment Advisors, the Wisconsin Value Fund is offered to the public. Students perform the analysis on investments in the portfolio (subject to oversight by portfolio mentors [Brian Pinsker, Kevin Silverman, Kevin Spellman], Dana Investment Advisors, the UWM Foundation and the IMCP Advisory Council) to produce investment returns for the public. The community gives back by providing this learning opportunity, meeting with the students, and 10% of client fees goes back to the IMCP for students.
Investment Trip
There is nothing equivalent to learning about investments from investment professionals at their offices in some of the top financial centers — including Chicago and New York, and sometimes London or the Berkshire Hathaway Annual Meeting.
The IMCP’s Chicago trip allows first-year students to meet with investors before they engage in new portfolio management activities in the fall. In addition we have meetings at Baird and other local firms.
Over Spring Break, the second-year students travel to New York City to meet with investment professionals at close to a dozen firms, tour the floor of the New York Stock Exchange and visit the United Nations headquarters.
Scholarships
Over $90,000 in scholarships are available to IMCP students to offset tuition. Every student who has applied for a scholarship has received one. Students also receive $1,500 towards IMCP-related travel expenses, and some may receive funds for CFA examination fees. The IMCP also covers the fees for Wall Street Prep or Adventis Financial Modeling Certification. Finally, the IMCP also covers fees for attending CFA Society Milwaukee events.