Finance students earn a top spot in first round of CFA Institute Research Challenge

Students at Appalachian State University recently competed, and won, in the state round of CFA Institute Research Challenge, a global security analysis competition.

The students are Zane Clark, Brandy Crump, Zack Marciniak and Hailey Shoesmith. The four compose the Broyhill Fellows, a subset competition team of the Bowden Investment Group, a hands-on financial portfolio management experience for students in the Walker College of Business.

"We are incredibly proud of these students; they are great representatives of Appalachian," said BIG Faculty Advisor, Dr. Brandy Hadley. "I would also like to extend a special thank you to our CFA Mentor, Mr. Chris Pavese, President and Chief Investment Officer of Broyhill Asset Management. Mr. Pavese has been invaluable in helping prepare the students for the competition."

Appalachian teams have won eleven out of fourteen years that the competition has been held in North Carolina and Appalachian is the only university in the state to have a team in the finals in all fourteen years. They are continuing the record of success initiated by Dr. Delbert Goff and prior classes of students.

What's next?

In March, the students will advance to the Sub-Regional level of the competition to represent App State in the Southeast region of the U.S. Following is a list of universities with teams in the final round of the NC competition this year.

  • Appalachian State University
  • Campbell University
  • Elon University
  • North Carolina State
  • University of North Carolina - Wilmington


About the Bowden Investment Group

The Elbert V. Bowden Student Managed Investment Fund was established in January 2000 with the purpose of providing students with an opportunity to obtain hands-on investment experience and to provide funds to benefit the students and faculty in the Finance, Banking and Insurance department. Learn more at

About the Department of Finance, Banking and Insurance

The Department of Finance, Banking and Insurance develops leaders for business, government and education by offering a Bachelor of Science in business administration in two specializations: finance and banking, and risk management and insurance. Learn more at

Finance students earn a top spot in first round of CFA Institute Research Challenge
Published: Feb 28, 2022 9:02am