Students in Mukesh Chaudhry's senior finance class, Seminar in Finance, attended a presentation by Patrick Wallace '85, president and lead financial advisor of Covington Investment Advisors, Inc. on Monday, February 1, at 3:30 p.m. as part of the "Hot Topics in Finance" speaker program.
"Hot Topics in Finance" is an initiative of the Eberly College of Business Finance and Legal Studies Department to bring professionals working in the finance industry to present to students over the course of the seminar.
The presentation took place in room 312 and was open to several faculty members as well. Wallace spoke about the basics and the process of financial planning, encompassing investments, economic cycles, the financial planning environment, taxes, estate planning, and other issues pertaining to the subject.
Patrick Wallace is an alumnus of Indiana University of Pennsylvania, having completed his bachelor of science degree
with a major in business management from IUP in 1985. As a registered investment advisor,
he provides customized investment advice to high net-worth
individuals where he takes into account each individual’s resources, risk
tolerance, and financial goals. Wallace and his team at Covington Investment Advisors are very successful in developing long-term relationships with a
number of families. As a result, in a very short period, Covington
grew to manage nearly $300 million in financial assets. In addition, the company provides an
excellent service to high net-worth individuals. Their primary custodian is
Charles Schwab & Co.
Prior to starting his firm, Wallace worked as a trust administrative officer and portfolio manager for the PNC
Advisor Office, where he was responsible for the daily operation of the office
and the administration of investment management and financial planning
services. As a trust officer at Integra Financial Corporation, Wallace administered and managed personal trusts, agencies, and guardianship. His work experience in all facets of
financial planning molded him into a highly successful entrepreneur.
Chaudhry indicated that the "Hot Topic" sessions have provided great value to the students by connecting the theory in the classroom to real-world business practice.