Making Finance a Family Affair

Eric Higgins, a professor in the College of Business Administration, is training the next generation of portfolio managers and finance professionals – his own three kids among them.

When students walk into Professor Eric Higgins’ “Security and Portfolio Analysis” course every semester, they immediately have a big task in front of them. The students, along with members of the College of Business Administration’s Financial Scholars program, run the college’s von Waaden Student Investment Portfolio.

“I tell students, ‘Think about it as a mutual fund or a hedge fund. You’re basically part of the investment committee for the fund,’” Higgins said. “It’s real money, and the students pick investment portfolio stocks. It’s a great opportunity for students to be involved. Real hands-on learning in how to value stocks and manage a portfolio well.”

The students have indeed managed it well. The portfolio launched almost 20 years ago with an initial $250,000 gift from Dennis and Sally von Waaden. Both K-State graduates, the von Waadens spent their careers with American Century, the private investment management firm. Dennis is a member of the college’s Financial Executives Hall of Fame and a member of the Dean’s Advisory Council. In 2021, the von Waadens earned the college’s Legend Award, which had only been awarded twice previously.

“The von Waadens gave us that initial $250,000. They liked what we were doing and gave a second $250,000, and that has grown to $2 million. It’s pretty unique in that our focus is on undergraduates. In other schools, this may reside in their master’s program. But we’ve always wanted to give undergrads that experience,” Higgins said.

Students in the Financial Scholars program serve as “senior portfolio managers” to provide continuity over time. They keep the portfolio running when class isn’t in session, tracking performance metrics and returns, keeping the portfolio’s records up to date, and selling stocks if they hit a price target or floor.

About 48 additional students take the course every semester. They’re assigned to various industries and are taught how to value those companies. “A lot of the assignments are on stocks we already hold, so they get a little experience analyzing those. But I also tell them ‘Look, this is your sector. Learn some about it, learn some of the companies in it, and you’re each going to pitch us a good one at the end of the semester,’” Higgins said. “It’s a little safer [than working at a firm as a professional], but I tell them ‘Pick some good companies, and let’s make some money.’”

In recent years, Eric Higgins’ own children have been among those “Security and Portfolio Analysis” students – Dylan, who graduated from the College of Business Administration in 2022, and Hannah, who graduated in 2024. Son Tyler also graduated from the college in 2024. Tyler had dad as a professor too, in Eric’s introductory “Principles of Finance” class.

“My dad’s genuine passion for teaching and for finance is something that truly embodies the idea of authentic interest,” Hannah said. “Watching him teach with such enthusiasm and dedication has shown me how powerful it is to love what you do. There's nothing more inspiring than listening to someone speak about a topic they are deeply passionate about, and his ability to do so not only ignites that same passion in others but also makes him an exceptional teacher.”

Today, Dylan works in corporate finance for Wingstop, the chicken wing chain with nearly 1,500 locations nationwide. Tyler is in a leadership development program at Textron, rotating through assignments at the conglomerate that includes Arctic Cat, Cessna, and Beechcraft. He’s currently with E-Z-GO, Textron’s subsidiary that manufactures golf carts and other light vehicles. Hannah is an investment analyst at Magnetar Capital, a hedge fund with about $17.5 billion under its management. Her work includes technical analysis to support her portfolio manager’s decision making – familiar territory after her “Security and Portfolio Analysis” course.

As if Eric Higgins’ three children being College of Business Administration alumni weren’t enough, the K-State connection goes back another two generations. Eric himself is an alum – as is his brother Michael, who is now a professor in the K-State Department of Statistics. Meanwhile, Eric and Michael’s father James Higgins was also a stats professor. Michael now uses the same office in Dickens Hall that his father James used for decades. “That blew my mind,” Eric said.

“I did not anticipate that all three of them would be in finance,” Eric said. “But with family discussion or family dinner, there was a lot of finance around. There just was. The kids probably hated it, but I’d hold up a cup and say ‘What does it take to make this? This is a Yeti. Why is Yeti charging 25 bucks for this, when I can get one at Wal-Mart for seven?’ Stuff like that. It was bound to be ingrained a little bit.”

Tyler confirmed, “He has essentially been my professor for the last 20 years. So the only difference [in class] was that it was for a grade.”

“During the summers, I always wanted to go to work with him,” Dylan said, “so I spent my summers in Calvin Hall, hearing about what he did and little tidbits about finance. I was hooked on finance from a young age. There were a few days lined up that I could go to one of his classes, and I remember hearing him teach and being amazed by what he was teaching. Walking into his class for the first time as a student, I still felt the same way all those years later. It was really a full circle moment, as this time I was able to learn so much from his class that I still use today.”

Passion for those conversations is still evident, too. Recent topics on the family group chat have included a Jerome Powell speech at the Jackson Hole Economic Symposium and the August jobs report.

“And I’ve learned a lot about chicken wings, golf carts, and the latest in the hedge fund world, too,” Eric said. “I just dig finance. I love it. And I want everyone to find whatever that is for them too.”