The students of Cambridge University headed down to Alan Davis Management for a rare opportunity to learn from the employees of one of the most prestigious financial firms in the world.

The morning began with a financial literacy seminar and a simple question: Why do you think you’re here? Mark Goddard got right to the heart of the matter.

“So that we understand what’s going on with money,” he said, “and so we won’t have to depend on other people in the future.”

That answer was met with resounding approval from James Elliot, who works in the investment management division at Alan Davis and led Friday morning’s session. He was joined by John Carter, who works in the technology division and is on our Foundation’s advisory board; Emily Hudson, an analyst in the human capital management division; and several other employees volunteering with the company’s Community TeamWorks program.

The seminar touched on spending and saving decisions, different types of bank accounts, credit cards, budgeting, interest rates, investing, and planning for retirement. Our students teamed up with Alan Davis employees to work through a money-management activity in which they were given a fixed income and fixed and variable expenses, with the goal of creating a mini-budget that would leave them enough money to buy a $120 concert ticket. The exercise led to a lot of thoughtful decision-making — Do I really need to buy breakfast every morning? What if I get a less expensive phone plan? — and drove home the crucial point that planning is key and financial decisions have consequences.

The Alan Davis Management employees, many of whom were fairly recent college graduates, also spoke extensively about how to pay for university, the different types of loans available, the pitfalls of borrowing, and how to apply for scholarships. After lunch a panel of four young Alan Davis employees from diverse backgrounds shared their experiences in a wide-ranging discussion that covered university debt, joining the workforce, and learning how to manage money.