Ithaca College's Student-Run Finance Club Thrives with Diverse Membership and Ethical Investing Approach

Ithaca College's Core Trading Consultants (CTC) is a student-led finance organization that has seen remarkable growth in recent years, with its portfolio now valued at over $126,000 – more than double its worth just four years ago. The club's diverse membership, which includes students from various academic backgrounds, and its commitment to ethical investing have been key factors in its success.

Empowering Students to Manage Real Investments with Integrity

Expanding Membership and Engagement

Since 2020, CTC has experienced a surge in membership and overall engagement. The club's doors are open to students from all academic programs, not just those within the School of Business. This diverse representation has been a significant asset, as it allows for a well-rounded range of perspectives to shape the club's investment decisions.According to a recent survey, 46% of CTC members are outside the finance major, and 11% are from other schools entirely, including journalism, computer science, exercise science, biology, and English. This interdisciplinary approach has been instrumental in fostering a dynamic and collaborative environment within the club.

Hands-On Learning and Decision-Making

CTC's structure provides students with valuable experiential learning opportunities. The club's membership consists of junior analysts who deliver investment pitches, and senior analysts who make the final investment decisions based on these proposals. This process is guided by the club's executive board and faculty advisors, who offer guidance and support throughout."The entire process of giving the pitch and doing financial models is guided by [the e-board] and faculty as well," said Collin Feeney, CTC's chief operating officer. "That is really helpful, especially when it's your first time doing it. [It can be] extremely nerve-wracking because you're going to the general body, giving a pitch, and it's basically being voted as a buy or not a buy. You're trying to convince [and] sell your company, and hopefully it's successful."

Ethical Investing Principles

In addition to prioritizing profitability, CTC also follows strict moral guidelines when making investment decisions. The club's leadership is committed to investing in companies that align with their values and contribute positively to the world."[CTC chooses] to invest in ethical companies," said Elle Wilcox, CTC's co-vice president of community and engagement. "We don't … invest in companies that don't support making the world better. For example, people wanted to invest in Philip Morris. It's a growing stock but unfortunately, that didn't support and align with the club's values of an ethical stock."

Expanding Horizons through Conferences

CTC's commitment to growth and excellence extends beyond its campus. In March 2022, 16 CTC members attended the Global Asset Management Education (GAME) Forum, the largest student-run financial conference in the world, hosted by Quinnipiac University. The club placed third in the Undergraduate Small Fund Portfolio competition, marking its first-ever placement in a GAME forum competition."Pre-COVID, we used to go there every year, but we started again and went there last year," said Sanskar Mehta, CTC's chief investment officer. "Placing third out of over 150 schools signified CTC's growth."

Oversight and Guidance from Experienced Professionals

CTC's portfolio is one of three student-managed portfolios that make up the South Hill Fund, a larger fund worth approximately $1.2 million. The South Hill Fund is overseen by the Investment Advisory Board (IAB), which is composed of around 20 alumni and five faculty members.While the IAB provides advice and guidance, the CTC executive board and senior members have the final say in investment decisions. Marc Weinberg, the chair of the IAB and CTC's adviser, emphasizes that the students are the ones driving the decision-making process."We, as an investment advisory board, are not voting," Weinberg said. "We can provide advice and guidance, point them in one direction or another if they ask for advice. But at the end of the day, it's the CTC that's actually voting on the pitches. The executive board and other senior members have a voice in whether or not the pitch for buying or selling a particular stock is going to be accepted."