If you’re intrigued 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.
- Be part of a team that works on over $7 million in real portfolios;
- 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 during and outside the classroom;
- Have access to top flight investment analytical tools;
- Work on real projects and participate in competitions; and
- Travel to some of the world’s largest financial centers.
In 2016, students placed in the top 11 in the Americas and top 21 in the world out of over 1,000 schools in the CFA Institute Research Challenge
Evercore International Strategy & Investment Group
First Analysis Securities
The Leuthold Group
Ned Davis Research Group
Robert W. Baird
Standard & Poor’s
Standard & Poor’s
Students work on portfolios of over $7 million in assets. They form three teams for three internal funds:
- U.S. Equity Value Fund
- U.S. Equity Growth Fund
- Global Macro Fund (international equity and bonds)
The internal portfolios amount to about $2.4 million, including about $400,000 through gains and three $100,000 gifts from Paul Franke (retired officer of William Blair), Bill Nasgovitz (President of Heartland Advisors), and Dave Nicholas (President of Nicholas Company), $1 million through anonymous Baird associates who are UWM alumni and supported by Baird, and $1 million from the UWM Foundation. Students work on another nearly $5 million for a local humane society. This is serious work with a real meaning.
View an example of an institutional quality client presentation.
IMCP Advisory Council members are:
Founder & Managing Partner, Alpha Investment Group, LLC
Vice President, Senior Investment Analyst, Baird Advisors
President & CEO, Global Value Investment Corp.
(retired) Managing Director & Principal, Banyan Partners LLC
President, Heartland Advisors
Chief Investment Officer-Equities, Ziegler Capital Management, LLC
President, Nicholas Company, Inc.
VP & Portfolio Manager, Dana Investment Advisors
Senior High Yield Analyst-Director, Northwestern Mutual Investment Management Company, LLC
In addition to their summer internship, students will spend part of their summer monitoring the investment fund which transitions to them in May from the prior student team. Students attend a not-for-credit portfolio management seminar (online).
Frequent stops in NYC include:
- American Century
- Cornerstone Macro
- New York Stock Exchange
- Round Table Services
Students in a stand-alone certificate who are seeking financial assistance maybe eligible for private loans.
You may also be interested in:
Master of Science – Finance
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Undergraduate program coursework
BUS ADM 452 Applied Portfolio Management
BUS ADM 454 Analysis of Options and Futures
BUS ADM 495 Special Topics In Business*
BUS ADM 551 International Investments
BUS ADM 552 Investment Management Practice I
BUS ADM 553 Investment Management Practice II
BUS ADM 554 Investment Management Practice III
Graduate program coursework
BUS ADM 550 Investment Management Practice I
BUS ADM 552 Investment Management Practice II
BUS ADM 553 Investment Management Practice III
BUS ADM 554 Investment Management Practice IV
BUS ADM 772 Portfolio Management
BUS ADM 773 Options and Futures
BUS ADM 853 Financial Modeling
Graduate Investment Management certificate requirements as well as course descriptions can be found on the catalog website.
*This course is part of a three year pilot program which began in the Summer of 2016. During these three years, the program begins in the fall semester and is a two year academic program.
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 495 during the fall semester, and the co-requisite for undergraduates is 450, admission to major, and a successful application process, and the co-requisite for graduate students is 705 and a successful application process.
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.
If not completed earlier, students have courses in portfolio management (Bus Adm 452 / 772), derivatives (Bus Adm 454 / 773), and international investing (Bus Adm 551 / 851).
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 are “on the job,” the portfolios are live, and they make the decisions. Students meet on three occasions with the IMCP Advisory Council (the “client”), when they 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.
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).
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Investment Management Certificate Program graduates will have a substantial competitive edge in pursuing careers as investment analysts, financial analysts, investment advisors, investment bankers, credit analysts, and other roles in finance.
Our program – for undergraduate and graduate students – is a demanding, CFA Institute University Recognized Program. Students are taught and mentored by both academic and investment professionals and a dedicated academic/practitioner director. These students are smart, well-trained, and passionate about investments and finance. They also possess outstanding work ethics and attitudes, viewing the program as a job and often working while in school to fund their education expenses. Bottom line? Our graduates hit the ground running.
Learn more about our outstanding students:
Job titles of recent IMCP graduates:
Private Banking Analyst
Equity Research Associate
Cash Forecast Analyst
Fixed Income Analyst
Companies that have hired recent Lubar IMCP students and graduates:
Robert W. Baird
BMO Capital Markets
Business Valuation Resources
Catholic Financial Life
Dana Investment Advisors
Ehlers Investment Partners
Lubar & Co.
Marcus Asset Management
Mason Street Advisors
North Star Asset Management
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The Investment Management Certificate Program benefits from outstanding faculty with expertise in investments, and a dedicated director with experience as an investment manager. In addition, a supportive investment community and Lubar alumni enhance the classroom experience as guest speakers and program advisers.
Dr. G. Kevin Spellman
Director, Investment Management Certificate Program
Dr. G. Kevin Spellman (a.k.a. “Coach”) brings the combined strengths of professional money management experience and university program leadership and teaching. Dr. Spellman has worked as an analyst, portfolio manager, and director of research (managing a 17-person analyst team), with responsibilities including fundamental analysis, quantitative analysis, and behavioral research. He has worked for public and private buy-side (investment manager) as well as sell-side (brokerage) firms, with direct experience in several asset classes, including U.S. and international equities and real estate, and indirect experience in private equity and bonds. He is a CFA Charterholder. Dr. Spellman has been associated with several student investment programs, including IE Business School in Madrid, The Ohio State University, and the University of Wisconsin-Madison. View Dr. Spellman’s resume.
Associate Professor, Finance
Roger L. Fitzsimonds Junior Faculty Scholar
Assistant Professor, Finance
William Nasgovitz Research Grant
Associate Professor, Finance
Chair, Executive Committee
Interim Director, M&I Marshall & Ilsey Center for Business Ethics
Senior Lecturer, Finance
David O. Nicholas Director, Investment Management
The program is fortunate to have the support of many investment professionals from firms in Wisconsin and beyond. In addition to an active group of investors who serve as “clients,” frequent professional and alumni guest speakers provide insights into specific topics in the investment practice courses.
Students also benefit from the generosity of Paul Franke (retired, William Blair), Bill Nasgovitz (President, Heartland Advisors), David Nicholas (President, Nicholas Company), anonymous Baird associates who are UWM alumni and supported by Baird, and the UWM Foundation who have funded the program’s approximately $2.4 million internal student-managed investment portfolio. Elmbrook Humane Society is also a great partner. Students work on its nearly $5 million portfolio.
The IMCP is the “community” program, which is evident based on the 100s of individuals and firms who have given their time, funds, and products to it over the years.