Marissa Kalina was part of the student team who won the Financial Planning Association’s undergraduate program challenge for Texas Tech's fifth time.

Marissa Kalina stood with her two teammates in a crowd of financial planners and those in the making, all eyes on the trio. 

A twinge of relief couldn’t help but accompany the pride she felt from the applause that erupted, congratulating the Texas Tech University undergraduates for winning the Financial Planning Association (FPA) Financial Planning Challenge in Columbus, Ohio last September. The team was up against nationwide undergraduate degree programs registered with the Certified Financial Planner® (CFP) Board in a three-phase competition. 

Over the course of fourth months, they were tested with a financial planning case study, assessing a hypothetical client’s needs and preparing a comprehensive financial plan without the use of commercially available software. This was followed by an oral presentation and a “How Do You Know?” game-show style contest that tested the team’s knowledge of comprehensive financial planning across the seven disciplines and more. 

“We thought we did well, but we weren’t allowed to see the other presentations,” Kalina remembered. “So, we didn’t know where we stood with everybody else, and no matter how good we felt about our experience, we didn’t know until the end.”

There was undeniably plenty of pressure on Kalina, along with her fellow School of Financial Planning classmates Andrew Matz and Kali Mazumdar. Their faculty advisor, Michael Guillemette, selected them through a competitive process to defend the university’s 2023 win.  

Setting the bar high paid off, as the trio rose to the challenge and became the fifth Texas Tech team in seven years to place first, securing more than $50,000 in scholarship funds.

“It was really great to feel that everything had paid off,” Kalina said. “Looking back, my favorite stage was when we had to verbally present to the judges. That showed me I can succeed in high-pressure and real-world situations because it was kind of like you’re sitting in a real meeting with the client, but you’re just talking to the judge.”

Kalina, Matz and Mazumdar’s efforts earned a $10,000 scholarship to Texas Tech that they split and a full scholarship to FPA’s highly acclaimed Residency Program. Guillemette commended the outstanding dedication and hard work of the team and how Kalina helped balance it. 

“She never got too high or too low,” he recounted. “I think it is good to have a levelheaded student on the team.”

Kalina’s participation in the challenge not only substituted for one of her final classes she would need to graduate from the College of Health & Human Sciences this semester, but Guillemette also said it boosted her resume.

“Our students that go through this challenge and are successful typically land jobs very quickly,” he noted, “and then, not surprisingly, they’re the alumni who also tend to be extremely successful in their career trajectory.”

Since her return to campus after the FPA Financial Planning Challenge victory, Kalina immersed herself in networking events and interviews for full-time positions with a fresh confidence boost. 

“The challenge reaffirmed my passion for financial planning,” she said. “You build relationships with clients for them to be able to trust you, and every client is different and every plan is different. I just want to be able to handle their finances and help them.”

Just as Guillemette expected, it did not take long for Kalina to find the perfect firm for her. She recently accepted an offer as an associate financial planner at Lee Financial in Dallas that she believes will allow her to continue to learn and grow. The door to this position opened last summer after an internship with the company. 

As she sat in on many client meetings and took notes, Kalina saw firsthand how she could make a difference by empowering others to meet their life goals. No matter the case – early retirement, having a baby or saving for a wedding or a new car – she aims to alleviate stress that can create roadblocks to these milestones.  

She can relate, having to swerve past a blockage herself in the not-too-distant past. 

Small-Town Savings

Kalina grew up in Miles, a small town with a population of about 1,000 outside of San Angelo. 

It had a few restaurants along with the school she attended, but that was about it. If she wanted entertainment, it would require at least a 20-minute drive.  

That’s why Kalina has had a job ever since she turned 14, including babysitting, working at her local grocery store and clocking hours at the cotton gin where her mom is employed.

By the time she graduated from high school in 2021, Kalina recognized she could not afford to live in the dorms during her first year of college at Angelo State University, so she remained home. 

“I was saving a lot of money working because I lived at home,” she explained. 

Kalina’s budgeting skills made her want to pursue a major in a related field, even though finance was a relatively unfamiliar career in her hometown. 

After her first year, she had saved enough money to transfer to Texas Tech (as she always wanted) and live in a house. She could have stuck with pursuing a finance degree, but her advisor recommended she check out the personal financial planning program. 

“I just took a leap of faith and ended up in the top program in the country,” Kalina mused. “I jumped right in and I’ve loved it ever since.”

Kalina appreciated how her classes offered a great blend of theory and practical experience. She further enjoyed her instructors and their willingness to guide her both academically and personally. Even her classmates and alumni of the program offered a sense of fellowship she recognized as hard to find. 

This support network pushed Kalina to broaden her opportunities not only by networking but joining several organizations such as the Personal Financial Planning Association and Red to Black Peer Financial Coaching, in which she helped fellow students with their finances.

“Peer-to-peer financial coaching is a little bit easier for students instead of talking to a professional because we’re kind of in the same spot and can provide more knowledge with our experience,” she said. “So, at the beginning, they come in quite stressed and sometimes embarrassed because money is something that’s not fun to talk about with other people. But once we give financial coaching, it’s really nice to see our students feel empowered and a little relieved once they feel like they understand something.”

Kalina even became a mentor for other students in the School of Financial Planning earlier this year, a full-circle moment for someone who recognizes the vital role mentors like Guillemette have played in her success. 

Guillemette is proud of how Kalina has not only listened to advice but internalized it to better herself. He said while the School of Financial Planning helped her gain human capital, he insists she was a natural in one aspect. 

“She came in with pretty strong personal communication skills,” he said. “That’s ultimately something that’s very hard to teach, so she was blessed with that.”

It was that quality that enabled Kalina to perform well in professional environments like alumni events hosted by the school. Likewise, she also was selected as one of four students to represent Texas Tech at the 2024 Charles Schwab Impact Conference in San Francisco.

Kalina described this event as incredible, bringing her in contact with industry leaders and other inspiring professionals who are shaping the future of her field. 

“Another highlight of the conference was connecting with 80 fellow students from across the country, forming new friendships and sharing ideas about the future of financial planning,” she recalled. “This experience has left me inspired and excited to continue my journey in financial planning.” 

Planning Ahead 

As Kalina nears her commencement date, she does so confident that she maximized her college experience – even graduating with honors. 

“I am happy and relieved to see that all my hard work has paid off,” she shared. “I feel super accomplished and prepared for the world. I’m really excited for all the experiences that I’m going to get just being an alumna of the program.”

Even though Kalina will soon earn her degree, she believes in the importance of lifelong learning to grow not only academically and professionally but also personally. In fact, she will face one of the most important tests of her career when she takes the Certified Financial Planner exam in March – a 170-question, multiple-choice test consisting of two three-hour sessions in one day.

The biggest change post-graduation will be physically departing from the Texas Tech campus and missing faces she has regularly seen for the past several years. 

Kalina admits it was difficult being away from those friends during her summer internship in Dallas. But when weighing her career options, she opted not to do what is comfortable, like return to her small hometown where she knows most everyone, in lieu of the invigorating option to start fresh in a big city. 

The adjustment won’t be easy, but Kalina believes she will find comfort in the fact that many School of Financial Planning alumni are based in the area. She will just have to do what she advises other undergraduates: to embrace all the opportunities and experiences that are presented and not be afraid to ask questions along the way. 

“Every day is a challenge,” she said, “but it’s how you persevere through those daily challenges that get you somewhere.”