Professor Spotlight: Larry Lockwood and the CFA Prep Class

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Dr. Larry Lockwood
The Neeley School of Business is fortunate to have professors such as Dr. Larry Lockwood, who offers students an opportunity to get a head start when entering the field of finance. Professor Lockwood teaches a CFA prep class that can be taken as a part of the MBA curriculum. “You don’t find an experience like that at many other MBA programs,” says Peggy Conway, Director of MBA Admissions.

The CFA (Chartered Financial Analyst) Institute is a globally recognized organization with charter holders all over the world. It is considered the gold standard for investment professionals. In order to obtain a CFA charter, individuals must pass a series of three six-hour exams. To prepare for each exam, 200 to 300 hours of study time is recommended.

In 2001, a group of students approached Lockwood to help them prepare for the exam. Of the 10 students who participated in the then-informal CFA prep sessions, all 10 of them passed the exam. Out of this experiment, TCU's CFA prep course was born.

Each year, dozens of students take the rigorous CFA course. Some of them do so in preparation for the exam, while others take it simply because it is an exhaustive class benefiting all finance and MBA students. During the spring semester, students taking the CFA prep course meet for four hours every Saturday. The course covers all stated objectives distributed by the CFA Institute, and Lockwood covers up to 200 of these objectives in one session.

Once an individual passes all three exams (the CFA exam pass rate for TCU students is about double the international average, says Lockwood) and garners at least four years of related work experience, he or she will be awarded the prestigious CFA charter.

“It is a statement to employers that the individual has achieved the gold standard of investment management,” says Lockwood. “Holding a CFA charter opens a lot of doors for investment management professionals.”

The Neeley School’s undergraduate BBA for finance majors and MBA programs are both recognized by the CFA Institute, a distinction that sets TCU apart from other universities. Entry into the CFA Institute University Recognition Program signals to students, employers and financial professionals that the Neeley School of Business is capable of producing high-caliber candidates for professional practice.

“To have received recognition at both the undergraduate and MBA levels speaks to the careful planning that went into each curriculum,” says TCU Professor of Finance Larry Lockwood, Ph.D., and CFA charter holder.

To achieve CFA recognition for both the undergraduate and MBA programs, TCU had to submit verification that both curriculums cover the necessary requirements.

Lockwood has been instrumental in helping TCU obtain CFA recognition and preparing students for their CFA exams. In addition to the tremendous support Lockwood and the finance department have received from TCU’s upper administration in these efforts, Luther King Capital Management Co. gives nearly $20,000 annually to cover expenses for students taking the CFA exams.

Lockwood has been at TCU for 20 years. Prior to settling in Fort Worth, Lockwood traveled the globe, meeting with international CFA societies to help establish CFA programs and offer review programs, which he continues today. He is also active within the local CFA chapter and serves as co-advisor to the TCU student-managed Educational Investment Fund.

The MBA experience at TCU is designed to stand apart from other MBA programs. The CFA recognition and prep course is just another example of how TCU sets graduates up for success in their future careers. 
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