What drives the next generation of financial planners?

We recently had the pleasure of interviewing Lexi Shipley, president of the Personal Financial Planning Student Association (PFPSA) at Utah Valley University. In this discussion, Lexi goes in-depth on trends she’s seen in her classmates’ industry expectations as well as the experiences they’ve been seeking out in their coursework, internships and first jobs.

What motivations are you seeing among your classmates to choose financial planning as a career?

For a lot of the students, I think something that motivated us to want to pursue financial planning is that you get to really help people and feel like you’re making a difference. It’s a very fulfilling profession, but it also offers a great work-life balance, which is something that I really wanted.

As a local Utahn you participated in concurrent enrollment with UVU, which will allow you to graduate after just three years. You are also working full-time, while attending class, which is common among your classmates. Can you tell us about those experiences?

In high school I took AP classes, but as I got to junior and senior year, I decided to focus more on concurrent enrollment, which gives you those direct UVU credits. Many of my classmates prioritize being able to save money while also getting a good education. And many of the students at UVU work full-time like me. We’re already accustomed to this hard-working mindset, which helps us to pivot seamlessly into a career. I think that contributes to why we hear that firms love recruiting from UVU because they know they’re going to get driven employees that aren’t afraid to work hard and prioritize their growth.

What made you choose UVU’s Personal Financial Planning program?

Once I decided on studying something finance-related, I wanted to go to UVU and pursue their financial planning major because I knew of the program’s reputation as one of the best in the country. There is so much that I absolutely love about this program, and I try to recruit anyone at UVU who’s unsure of what major to choose.

One of the biggest assets we have in the program is our faculty, which come from across the country and all over the world. They’re so passionate about what they’re doing and really willing to help the students.

There’s also a big focus on networking in the program, thanks to the faculty. They have connections nationwide and they’re really good at finding specific roles and openings for students, which provides a lot of really great opportunities.

Now that you are close to graduating, what are some of your favorite things about the Woodbury PFP program?

UVU’s PFP program is known for participating in national financial planning competitions and conferences. I’ve been lucky enough to attend two national conferences (Commonwealth National Conference last year in Denver and CFP Board conference in Washington D.C.). I also have another one coming up in a couple weeks (Charles Schwab IMPACT conference in San Francisco).

I was on the council for the Personal Financial Planning Student Association last year, and then was lucky enough to be president this year. It has been so much fun to be able to help out with these events that we put on. I feel like the events are a big part of our program and a great way to help the students, which include the speed networking event and our spring banquet at the end of the year. We invite lots of firms to sponsor us, which helps financially support the program but it also helps to recognize all the students and faculty that went above and beyond this school year. There are also smaller events sprinkled throughout the semesters.

The school also helps to get local and corporate firms to have lunch with students throughout the year. There are a lot of opportunities for students to get connections across the country. We also have a Colloquium course and a wealth management seminar class, both of which are required for the major and bring different firms in to speak to the students. It is an open opportunity for the students to ask any questions about what the working environment is like or what projects the firm is focusing on.

What responsibilities and experiences did you find most valuable during your internship?

My first work exposure to the industry was at a local firm, so I was able to get a really hands-on experience doing a lot of tasks that come with financial planning. I did a lot on the operational side when it comes to new account openings and paperwork. More importantly, I got to sit in on client meetings, work with the planning software and have a lot of face-to-face interactions with clients. I feel like I acquired a really good mix, as having those types of hands-on experiences really sets you up well when you’re looking for a job. Like having the experience in those platforms and programs, talking to clients — that’s what advisors are looking for when they’re looking at hiring. It also helped me know that after working there for a little over a year, I was confident in my choice of financial planning, which made me more excited and eager for the future to get into that role.

What advice would you have for firms looking to attract high-quality interns and graduates to their firm?

Getting that hands-on experience is a priority for students, and, unfortunately, many of the students I’ve spoken with have a hard time finding internships that offer that. Students prioritize being able to sit in on client meetings because that’s one of the most valuable things that a position can offer them as an internship.

Firms could also get involved in the various events at UVU, where so many talented students show up. Some events like our speed networking that we just had aren’t even exclusively for UVU students! They attract BYU students and we’ve even had students come down from BYU-Idaho. So you get a broad range of experience, which is really cool.

As you get ready to graduate, what will you look for in your next roles?

I currently work at a brokerage firm in a corporate kind of structure, and that’s been really great. I am keeping my options open for the future. I really loved working for a local firm, so I think that would be ideal for me. My biggest priority is having that rewarding face-to-face client interaction.

I think UVU students are generally a mix, with lots of students who want to stay in Utah and a lot of students who are kind of like me who will go anywhere. So that’s also a testament to all these connections across the country that UVU offers.

For firms currently trying to attract top talent among recent graduates, what are some popular perks or benefits that they can offer?

The PFP program at UVU equips students to meet all the requirements to allow us to sit for the CFP exam immediately following graduation. Because of this, students typically look for positions that will allow them to acquire their CFP hours while navigating that process. This leads them to pursue a role like an associate advisor position, instead of something that’s more purely operational or back office.

What are some of the professional goals you are seeing classmates hope to achieve 10 or 15 years down the road?

UVU is known for their entrepreneurship classes and programs, so there are many students in the PFP program who really align with that and want to start their own firm someday or become a partner at a local firm. I think UVU really helps students explore those different paths and understand the pros and cons of what different kinds of financial planning areas can look like, to help guide students toward achieving their goals.

Has AI been a part of your curriculum and have you seen firms begin to adopt it?

While nothing will be able to replace the personal touch and client relationship side of financial planning, some of our professors are very passionate about fintech, and we have a technology class that trains us on various software, some of which integrate AI.

The conference at Commonwealth had an entire presentation on AI, and when I came back to my firm, they had me present what I learned at a team meeting summarizing to the advisors how we could continue adopting it into our processes. I think that also demonstrates some of the benefits of UVU emphasizing participation in these conferences across the country, where students can then bring those insights back to their firms.

From the FAN — Winter 2025