Wealth Management Internships, Reimagined

Republic Capital offers micro internships for McCombs freshmen and sophomores

When John and Candace Langston established the permanent endowment for the Langston Wealth Management Center at McCombs School of Business in 2024, their stated goal was not merely to fund a program, but to transform an industry.

Steadily building on that vision, the company John Langston founded, Republic Capital Group, has designed a two-week intensive, online internship program to invest in young talent early in their academic journeys. Launched with a cohort of 12 in 2024, Republic’s internship welcomed 35 McCombs undergraduates last summer. The company’s leadership hopes others in the industry will adopt this model, giving students a head start and companies a sneak peek at emerging talent.

“We are pleased to see Republic Capital so deeply committed to our students throughout their academic careers,” says Ramesh Rao, the center’s founding director and professor of finance at McCombs. “By offering even freshmen and sophomores a firsthand look inside the wealth management industry, this program can help students choose among various career paths in wealth management.”

Based in New York, Republic Capital Group is one of the nation’s top-ranked independent investment banks, with branches in Dallas, Houston, and Winter Park, Florida.

We sat down with Republic’s partner and managing director, Amy Cunningham, to discuss the shifting landscape of recruitment and to better understand the mechanics — and the heart — behind this initiative.

Q: This internship clearly stems from a personal commitment to the school and the industry. How did this effort evolve from the center’s original mission?

With the Langston Wealth Management Center, there’s a real desire to grow the future talent of the industry.

Here’s a story that illustrates the ethos behind what we’re doing at McCombs: Last year, we were at the center’s naming ceremony dinner, and Professor Rao asked students in the room to raise their hand if they were a senior and did not have a job yet. It was only September, and it struck me how competitive the industry is now, that the expectation is to have a job the first day of your senior year. Only a few hands went up, and John Langston came over to me and said, “Hey, I think we help anyone who doesn’t have a job yet, right?” Then he told the room, “Go see Amy, and we’ll get you connected with people in the industry.” That really describes his heart for these students.

Not only have recruitment timelines accelerated, but now students need internships every single summer if they want an exciting chance, and people are even aiming for internships in high school. Building that résumé with meaningful experience has become more important, earlier and earlier.

Q: Is that why the new two-week internship program targets younger undergraduates rather than just upperclassmen?

Yes. Rightfully so, the standard, long-term opportunities should go to the upperclassmen who have to make big career decisions soon. But what about those who are younger, or those who haven’t had an opportunity yet?

Most students those first two years are thinking, “I’m not sure what I want to do. Maybe accounting, maybe wealth management, maybe investment banking.” So, we designed this intensive program to give younger students a true view of a day in our lives so they can narrow their focus, but also to leave room in their schedules for full summer internship opportunities.

Q: What are the nuts and bolts of the program that make it work?

The premise is, “How do we say yes to as many students as possible, show them what our jobs are like, and not throw off our team members’ schedules?” So, we split responsibilities equally among our team members.

We start each morning with a market update. We tell students, “You are responsible for your education as a professional, so grab your coffee in the morning and read CityWire or Wall Street Journal.” Usually, a couple of interns volunteer to give the market update: “This is what I read last night, and here’s what happened overnight in the market.” That report stimulates discussion.

In the afternoons, we have a mentorship session, where a team member — a junior banker, partner, associate, or analyst — talks about how they got to their position and describes their role. There’s also a third daily meeting for their team project, in which they manage a portfolio. We also dedicate several sessions to the deal process, walking students through it from beginning to end.

At the end of the two weeks, each student gives a presentation documenting their growth, projects, successes, and takeaways.

Q: What are you telling your colleagues in industry about the advantages of a brief, structured internship for younger students?

Bringing on interns can be a massive lift, and it’s easy for busy teams to default to “dele-dumping” — just taking all the tasks that waste time and throwing them onto a student’s plate.

Because our program is compressed into two weeks, we don’t have time for busywork. Instead of dumping tasks, we focus on genuine exposure and invite younger undergraduates directly into real scenarios right away. They quickly learn the level of responsibility and absolute integrity required to thrive in wealth management.

We hope more companies follow this pattern, allowing these younger students to come in, gain something they can put on their résumés, and dial in their hopes for their careers. And from a pipeline perspective, it helps companies know who to invest in next year for full summer internships.

Story by Judie Kinonen