Certified Investment Management Analyst (CIMA)
CERTIFIED FINANCIAL RISK MANAGER CODE
In addition to proving their high-level expertise in portfolio management, these individuals must also adhere to a strict code of ethics and provide character references. Individuals who hold the CIC charter tend to be some of the major players in the financial world, such as those who manage large accounts and mutual funds. The focus of the CIC program is portfolio management. Given by the Investment Counsel Association, this is a designation that CFA charterholders who are currently registered investment advisors can study for. In addition to successful completion of an exam on areas of financial planning, including income tax, insurance, investment and estate planning, candidates are required to have a minimum of three years experience in a financial industry position. Like those with the CFP designation, professionals who hold the ChFC charter help individuals analyze their financial situations and goals. The ChFC program is administered by the American College. Individuals with the ChFC designation have demonstrated their vast and thorough knowledge of financial planning.
The Institute of Business and Finance (IBF), formerly known as the Institute of Certified Fund Specialists, provides training for the CFS, and the course focuses on a variety of mutual fund topics, including portfolio theory, dollar-cost averaging and annuities. The knowledge these CFS designees hold is kept current through their continuing education requirements. These individuals often advise clients on which funds to invest in and, depending on whether or not they have their license, they will buy and sell funds for clients. Certified Fund Specialist (CFS)Īs the name implies, an individual with this certification has demonstrated his or her expertise in mutual funds and the mutual fund industry. Find out why professionals and top employers worldwide value this relevant credential. The CMA exam consists of 12 content domains organized into two exam parts, including multiple choice and essay questions. The globally recognized CMA ® (Certified Management Accountant) program, offered by IMA ® (Institute of Management Accountants) demonstrates your expertise of advanced accounting and financial management knowledge in critical areas such as financial planning, analysis, control, and decision support. These professionals provide research and ratings on various forms of investments.
CERTIFIED FINANCIAL RISK MANAGER PROFESSIONAL
In passing these exams, candidates demonstrate their competence, integrity and extensive knowledge in accounting, ethical and professional standards, economics, portfolio management and security analysis. CFA charterholders tend to be analysts who work in the field of institutional money management and stock analysis, not financial planning. To obtain the CFA charter, candidates must successfully complete three difficult exams and gain at least three years of qualifying work experience, among other requirements. This designation is offered by the CFA Institute (formerly the Association for Investment Management and Research ). The last thing anyone needs is to choose a CFP whose certification has been revoked. Since, because of the nature of their work, a lot of trust is placed in these individuals, the CFP Board posts information on the financial planning process and current licensees, allowing clients of CFPs to verify if their financial planners' designations are in good standing. A financial planner works with individuals to help them understand their options and make financial decisions suited to their personal financial situation and goals. In addition to passing the CFP certification exam, candidates must also complete qualifying work experience and agree to adhere to the CFP Board's code of ethics and professional responsibility and financial planning standards. The program is administered by the Certified Financial Planner Board of Standards Inc. Candidates complete studies on over 100 topics, including stocks, bonds, taxes, insurance, retirement planning and estate planning. Those with the CFP® designation have demonstrated competency in all areas of financial planning. If you have trouble understanding the difference between a CFA, CFP, CIC, ChFC or any of the other financial certifications, you're not alone. While certifications aren't everything, educated investors (and your potential clients) give extra credit to those who have them, recognize that candidates put in long hours of study, and that they meet the highest ethical and professional standards.
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