Strategy
CFA Exam Draws Wealth Managers' Attention
With 139,900 people from 160 countries enrolled for the CFA exam in June 2010, the number of candidates has increased by 9 per cent year on year, regardless of the economic downturn, the CFA Institute said.
The Institute that administers the Chartered Financial Analyst curriculum said that these figures reflect a strong commitment among finance professionals to high standards of competency, integrity, and professional excellence.
Around 18,000 – or roughly 17 per cent – of all June 2010 candidates who provided information about their background work in private wealth, the CFA Institute told WealthBriefing.
The programme is designed to provide an understanding of investment management for those hoping to develop a career the industry.
In recent years CFA Institute has invested heavily in the area of private wealth management, a spokesperson for the institute told this publication.
Of all 139,900 enrolled candidates, the majority, or 40 per cent, come from the Asia Pacific region; 37 per cent from the Americas; 23 per cent come from Europe, Middle East and Africa.
In the UK, about 14 per cent of the candidates who provided background information work in private wealth.
“Investors need trustworthy professionals to manage their wealth. This is the most important lesson the world has learnt in the global financial crisis,” said John Rogers, president and chief executive of CFA Institute.
The CFA programme is a self-study programme which includes a three-level exam covering topics such as ethical and professional standards, financial reporting and analysis, as well as portfolio management and wealth planning.
“At this time of global economic instability, we believe it is especially important for the investment industry to be led by professionals who put investors’ interests first. Finance markets cannot function effectively without ethical behaviour and transparency, and CFA charterholders are integral to this,” Rogers said.
The CFA Institute is the global association for investment professionals, which administers the Chartered Financial Analyst and Certificate in Investment Performance Measurement curriculum and exam programmes worldwide.
