Exploring Financial Education Through Film: This is Not Financial Advice

Financial literacy is more crucial than ever in a world of complex markets and evolving investment strategies. To address this need, the Financial Industry Regulatory Authority (FINRA) has embarked on the Financial Education College Tour. This initiative brings financial education to universities, colleges, and community colleges across the nation.

As a self-regulatory organization overseeing U.S. broker-dealers, FINRA is committed to ensuring fair financial markets. Through innovative tools like AI and machine learning, FINRA works tirelessly to uphold market integrity, protect investors, and educate the public.

Their tour aims to foster a meaningful understanding of personal finance among students, equipping them to navigate their financial futures with confidence. The recent screening of This is Not Financial Advice at Penn State exemplifies this mission, combining engaging storytelling with lessons about investment risks and rewards.

In collaboration with the screening, Penn State’s Nittany Lion Fund (NLF) offered insights into real-world financial management conducted by Penn State students. NLF President Sanchita Bhusari spoke about the fund’s operations, where 40 undergraduate students actively manage over $10 million in assets for accredited investors.

Since its inception in 2005, the NLF has provided students with invaluable hands-on experience in equity portfolio management and financial analysis. By fostering skills in valuation and market strategy, the NLF prepares students for successful careers in finance, serving as a testament to the power of education in transforming financial judgment.

The centerpiece of the event was the screening of This is Not Financial Advice, a documentary that delves into the volatile and sometimes chaotic world of amateur investing. The film follows Glauber "Pro" Contessoto, an immigrant who risks his life savings on Dogecoin, a meme-based cryptocurrency. Pro's journey from a small apartment to millionaire status, and back to financial uncertainty offers a poignant exploration of modern investment culture.

What sets the documentary apart is its raw portrayal of the human side of investing. Through Pro’s story, viewers witness the allure of quick riches and the devastating consequences of missteps in a market riddled with scams and misinformation. Expert commentary throughout the film provides a balanced perspective, grounding the emotional highs and lows with pragmatic advice.

After the screening, attendees had the unique opportunity to engage with one of the film’s directors Chris Temple and members of FINRA’s team in a lively Q&A session. This interactive component allowed students to dive deeper into the film’s themes, ask questions about financial regulation, and gain additional insights into the world of investing.

The open dialogue underscored FINRA’s dedication to educating the next generation of investors and ensuring they have access to reliable resources and advice.

The documentary resonates particularly with younger audiences navigating today’s financial landscape. It sheds light on the fear of missing out (FOMO) that drives risky investments and underscores the importance of informed decision-making.

By blending personal anecdotes with expert insights, This is Not Financial Advice captures the outlook of a generation grappling with unprecedented access to financial markets and the pitfalls that come with it.

For students, the film served as both a cautionary tale and an educational tool, complementing FINRA’s mission and the real-world lessons championed by the Nittany Lion Fund. Together, these elements created an enriching experience, leaving attendees better equipped to approach their financial futures with knowledge and caution.

Carson Schuler is a fourth-year majoring in broadcast journalism. To contact him, email cts5357@psu.edu.