Designations Glossary
Accredited Wealth Management AdvisorTM, AWMATM
The Accredited Wealth Management AdvisorTM professional designee has gained the comprehensive knowledge and tools to expertly handle the complex wealth management needs of high-net-worth individuals. Individuals who have achieved certain levels of affluence face even more sophisticated financial issues. The professional who obtained the AWMA is educated to address those complexities and possesses specialized knowledge and skills to help high-net-worth clients preserve, grow, and transfer their wealth through effectively identifying and recommending strategies appropriate for diverse needs.
Certified Alternative Investment AnalystSM, CAIA®
The globally recognized CAIA® designation demonstrates deep expertise in the full breadth of alternative investment opportunities and commitment to the highest ethical standards.
CAIA® charterholders must pass two sequential examinations covering fundamental and advanced alternative investment concepts, including professional standards and ethics, real estate, hedge funds, commodities, managed futures, venture capital, private equity, structured products, manager selection, risk management, and asset allocation.
Certified Divorce Financial Analyst, CDFA®
The role of the CDFA® is to help both client and lawyer understand how the financial decisions made today will impact the client's financial future, based on certain assumptions. The CDFA® is someone who comes from a financial planning, accounting or legal background and goes through an intensive training program to become skilled in analyzing and providing expertise related to the financial issues of divorce including: identifying the short-term and long-term effects on dividing property; integrating tax issues; analyzing pension and retirement plan issues, etc.
Chartered Financial Analyst, CFA
The CFA charter is a globally respected, graduate-level investment credential covering ethical and professional standards, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments, and portfolio management and wealth planning.
There are currently more than 90,000 CFA charterholders working in 134 countries. To earn the CFA charter, candidates must: (1) pass three sequential, six-hour examinations; (2) have at least four years of qualified professional investment experience; (3) join CFA Institute as members; and 4) commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct.
Passing the three CFA exams is a difficult feat that requires extensive study (successful candidates report spending an average of 300 hours of study per level). Earning the CFA charter demonstrates mastery of many of the advanced skills needed for investment analysis and decision-making in today’s quickly evolving global financial industry.
Certified Financial PlannerTM, CFP®
The CFP® professionals have taken an extra step to demonstrate their professionalism by voluntarily submitting to the rigorous CFP® certification process that includes demanding education, examination, experience, and ethical requirements.
CFP® professionals must fulfill an educational requirement and subsequently pass a two-day, 10-hour examination covering financial planning, insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning. Additionally, CFP® professionals must have a minimum of three years experience and must abide by a strict code of professional conduct.
Certified Investment Management Consultant®, CIMC®
The CIMC® designation is focused on investment consulting including advanced investment management theory and application.
The CIMC® is bestowed by the Investment Management Consultants Association® (IMCA®). To obtain the CIMC® designation, designees complete a one-week classroom education program and pass a certification exam covering modern portfolio theory, development of an investment policy for a client, performance measurement and manager selection, investment analysis, and ethical and legal implications. CIMC® designees are required to adhere to IMCA®’s Code of Professional Responsibility, Standards of Practice, and Rules and Guidelines for Use of the Marks. CIMC® designees must report 40 hours of continuing education credits, including two ethics hours, every two years to maintain the designation.
Chartered Mutual Fund CounselorTM, CMFCTM
Through earning the Chartered Mutual Fund CounselorTM professional designation, the individual has the comprehensive knowledge and tools to evaluate mutual funds and make recommendations appropriate for a clients' needs. The specialized knowledge focuses entirely on all aspects of mutual funds with the skills to effectively identify, analyze and recommend mutual funds for a person's total financial picture.
Chartered Retirement Planning CounselorTM, CRPCTM
The Chartered Retirement Planning CounselorTM focuses on the knowledge and tools to define a "road map to retirement". Through earning the CRPCTM credential, one has achieved the mastery of the entire retirement planning process from A to Z to provide knowledgeable advice on issues such as planning for health care, asset management, beneficiary designations, income tax considerations, estate planning, and much more.
Financial Paraplanner Qualified ProfessionalTM, FPQP®
The Financial Paraplanner Qualified Professional™ (FPQP®) designation covers the main facts in personal financial planning with a focus on practical applications, such as estate, tax, retirement, insurance, and investments. Holding the FPQP® designation demonstrates the ability to gather, review and analyze financial information and offer a comprehensive picture of a person’s financial well-being. Furthermore, by holding this designation, it exhibits the individual has the knowledge and expertise to provide advice to clients as part of an effective financial planning team.
