One of our favorite traditions is when students intern with us. It is an opportunity for us to teach the next generation of investors some of what we have learned, as well as learn from them.
From April 29th through May 3rd, five Seniors from St. John’s Jesuit High School - Andrew Balcerzak, Declan Loisel, Evan Skolmowski, Jude Dzierwa, and Travis Friddell - interned with the SJS Team in Sylvania, Ohio. Throughout their internship, they did activities including:
Learn about a wide variety of topics on personal finance
Study the importance of investing, as well as different ways of investing
Introduction to retirement and other investment accounts (ex. IRA, 401(k), 529, HSA, etc.)
Started reading The Investment Answer by Daniel C. Goldie and Gordon S. Murray as well as The Psychology of Money by Morgan Housel
Meet with most members of the SJS Team
Create LinkedIn profiles
Present an investment-related idea for the SJS Team to consider
We asked each student to write a summary of what they learned during the week. We thank Andrew, Declan, Evan, Jude, and Travis for spending their senior project week with us, and we wish them well going forward!
Andrew Balcerzak
My week at SJS for my senior project was great. I came into this experience wanting to gain a better understanding of the basics of finance and what exactly goes on in a financial firm. I got a well-rounded view of the company and what everyone does in it. Whether it was making trades, analyzing certain stocks, learning what the advisors do, or even life advice, I felt that I gained knowledge from the time spent at SJS.
It was an eye-opening experience to see how much goes into the planning of people's futures. I found out the importance of reading and being a lifelong learner as everyone at SJS is reading some sort of financial book to evolve their ideas and approaches to finance. We had the opportunity to sit in an investment committee meeting - to see the amount of research that goes into picking certain investments was kind of surprising to me. I enjoy analyzing graphs and learning about compound interest, so when we sat down and got to look at some of the projections, I was fascinated by it. With that being said, the best piece of advice I learned is to invest early because it’s difficult to catch up with people who have been investing and spending wisely. The basics of investing don’t have to be hard - when you begin to dive in is when you find certain intricacies.
Another great part of my experience was learning about the social aspects of business. We sat down with multiple advisors, and learned that some of their social skills are natural and some have been learned over time. We sat down with Mr. Savage for lunch and he explained some of the aspects of advisor and client meetings. My takeaway from lunch is to be a genuine person and learn about people on a personal level - it makes conversations very easy and builds connections that aren’t fake.
Lastly, we dedicated a few hours to talking about taxes and certain types of accounts that people use. Taxes are very complicated once you get into the weeds, but on the surface, a chunk of taxes is you paying into things like Social Security that you’ll later benefit from. Certain accounts - such as a Roth IRA or a 401(k) - offer certain advantages that taxable accounts fail to offer, but come with some restrictions on when you can use the money. One of the things on my to-do list is to open a Roth IRA as soon as I get a job because it seems like a no-brainer to start my life of investing at a young age.
Declan Loisel
At SJS, what I learned goes beyond simple financial ideas - it was a comprehensive immersion into the dynamics of wealth creation and management. From understanding the fundamentals of stocks, bonds, and alternatives to diving into the depths of retirement accounts, we gained a holistic perspective on the power of investing. The firm's emphasis on building a diversified portfolio emphasizes the principle that strategic allocation across different asset classes is key to long-term growth and risk mitigation. With insights into the historical performance of the stock market, we were able to grasp the significance of compound interest, seeing the exponential potential of sound investment strategies.
Navigating through the maze of tax implications and regional disparities, we uncovered insights into optimizing financial decisions. Learning how varying tax brackets and state-specific regulations impact investment outcomes highlights the importance of holistic financial planning. By striving to maintain specific percentages of different investments, SJS balances returns and volatility. Beyond the numbers, the internship experience at SJS filled me with a sense of fulfillment and excitement as we discovered our passion for the field. Aspiring to embark on careers in finance, we gained some technical understanding as well as a deep appreciation for the multi-faceted nature of the industry.
Evan Skolmowski
Firstly, I want to express my gratitude to SJS for allowing me to come shadow. During this week, I have gotten to speak with and observe a dozen different people and learn unique pieces of information from each of them. Coming into the office on Monday, all I thought I knew about a bond was that it was some form of government currency. I now know investing in bonds is generally a form of fixed income, with a typically lower but more consistent rate of growth compared to domestic or international stocks. Some of the most useful pieces of information I’ll take away is the importance of diversification and staying true to the investment process over time, meaning I must discipline myself to always put away a fraction of a paycheck, and not pull it all out when there’s a dip in the market and things get scary.
I plan to begin investing as well as pour over books and articles deciding where I’ll begin my long-term investments, rather than have all of my money in faster individual stocks. At this point in time, I’ve thought about fifty different careers I could have in the future from astronaut to being the president, but I’ve always known I wanted to make enough money to live comfortably. My dad got me interested in the world of finance, but it’s always been slightly difficult to understand some of what he’s talking about on a larger scale. I’m extremely thankful that SJS has helped me to understand and get a better grasp on more of these ideas and terminologies.
Jude Dzierwa
During my one-week internship at SJS, I got to learn a ton about how finance works. Right from the start, I picked up basic stuff like what stocks, bonds, and derivatives are about. I saw how professionals manage portfolios and why it's so important to spread out risks by diversifying.
I also learned about taxes and how they affect the world. I saw how different states get taxed on different things. More populated states like California and New York have a higher income tax than states like Arkansas and Ohio. There are also taxes when you invest in the market such as capital gains taxes (particularly when an investment is sold within a year), unless the investment is in a retirement account like a Roth IRA.
As the week went on, I dug into financial analysis, trying to figure out how to judge how well companies are doing and how to read their financial reports. Doing mock trades helped me see how things play out in real time, and watching how the team deals with clients showed me the importance of personal connections in finance. Overall, it was a crash course in investments that gave me some solid skills to take forward.
Travis Friddell
This week shadowing SJS has been an amazing experience that I am extremely grateful for. I have witnessed day-to-day operations, meetings, and have observed what financial advisors and managers need to do to manage someone’s portfolio.
Learning how to manage someone’s portfolio was a very interesting experience. I have learned what it means to balance the risks of a portfolio. Many people depend on their financial advisor to help them make the right decisions with their money. There are many unfamiliar terms I have learned this week that I need to understand in the future, but that hasn’t stopped me from understanding what happens here at SJS.
Something I learned about as well this past week was types of jobs and positions in the financial world. One of the things I wanted to leave SJS with was a better idea of what type of career I truly want to pursue after college. I have learned about careers like a financial planner, portfolio manager, financial analyst. I am so grateful for this opportunity and everything I have learned. Thank you SJS for this experience that I will never forget!
Important Disclosure Information:
There is no guarantee investment strategies will be successful. Past performance is no guarantee of future results. Diversification neither assures a profit nor guarantees against a loss in a declining market.
Advisory services are provided by SJS Investment Services, a registered investment advisor (RIA) with the SEC. Registration does not imply a certain level of skill or training. SJS Investment Services does not provide legal or tax advice. Please consult your legal or tax professionals for specific advice.
Statements contained in this article that are not statements of historical fact are intended to be and are forward looking statements. All forward looking statements are inherently uncertain as they are based on various expectations and assumptions concerning future events and they are subject to numerous known and unknown risks and uncertainties which could cause actual events or results to differ materially from those projected.
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