Women’s Financial Series Turns Investing Lessons into $900,000 in Scholarships

What began in 1994 with $25,000 and a group of women determined to learn about investing has expanded into a portfolio worth more than $1 million and more than $900,000 in scholarship support for University of Arkansas – Fort Smith students.

Mollie Wilson Women’s Financial Series (WFS), formed with startup funding from the Westark Foundation, has spent 32 years studying financial markets, making investment decisions and putting the returns toward scholarships for UAFS students.

In 1994, Mollie Wilson and Dr. Carolyn McKelvey Moore, then executive director of the Westark Foundation, gathered a group of women for an investing club that would benefit club members with learning and college students with financial support.

The club was created not only as an investment group but as a way to give women greater confidence and knowledge in managing money, said long-time advisor David Craig of October Wealth Advisors.

“The group began to raise the knowledge base for women at a time when most men handled the financial future of the household. Generally, when the husband passed away, the widow was left with little knowledge to carry on,” he said.

The group’s early meetings reflected a financial world that looked very different from today.

“At the beginning, everything was on paper, and our first session was ‘How to Read the Wall Street Journal,’” Craig said. “We used a one-page sheet to fill in data about a company and compute ratios. I feel like we began in the Dark Ages, as we began before Yahoo! Finance.”

That emphasis on learning has continued as the group’s investment portfolio has grown. 

“These are very smart women. They study. They know what they are doing. As of Aug. 5, they had a 9.6% annualized net return. Anyone would be happy with that. Their one-year net return this year is at 27.56%. The S&P 500 composite is 23.69%. These ladies know what they are doing,” he said.

The group’s success in the market has translated into a growing source of scholarship support for UAFS students. In 32 years, WFS gifts have accounted for more than 750 scholarships presented to about 400 unique students. With gifts increasing over time, more than $900,000 has been given to students as of spring 2026.

In June, the group celebrated that $25,000 seed money growing to total portfolio of $1 million. In June, the group’s portfolio was $1.038 million. The group then made a $75,000 donation to the UAFS foundation, bringing the total portfolio in as of June 23 to $959,622.

But the numbers tell only part of the story. For members, the lasting reward is seeing the students who receive the scholarships. While the members enjoy financial learning and studying their stock choices, the rewarding part has always been the help they are able to give students.

“We’ve had some of the scholarship recipients come in and talk to us and share their success with us. That is always the best part. We love hearing about their success. We love helping them further their education,” said long-time member Sharon Bartow.

The meetings, which members can easily join on Zoom even if they are out of town, also give members opportunities to learn from women working in business and other industry professionals.

“We really enjoy women business owners coming in to speak to us,” Bartow said.

Melissa Vitale, owner of True Grit Running Co. in Fort Smith, spoke to the group at their last meeting, sharing the challenges and celebrations of women entrepreneurs. 

The group has also heard from many directors of investor relations from top companies such as Baldor (ABB), ArcBest, OG&E, Bank OZK, and Walmart.

That combination of investment education, fellowship and philanthropy remains central to the group as it welcomes new members. Monthly meetings include study sessions, investment decisions, lunch, and the speaker’s presentation. Members pay annual dues. Those seeking information about joining can contact Matt Hutchins, UAFS’s Director of Donor Relations, at 479-788-7024 or Matt.Hutchins@UAFS.edu.