CFA – Chartered Financial Analyst

The Chartered Financial Analyst (CFA) charter is a globally respected, graduate‐level investment credential established in 1962 and awarded by the CFA Institute, the largest global association of investment professionals.

There are currently more than 150,000 CFA charterholders working in 163 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.

High Ethical Standards

The CFA Institute Code of Ethics and Standards of Professional Conduct, enforced through an active professional conduct program, require CFA charterholders to:

• Place the integrity of the investment profession and the interests of clients ahead of their own personal interests
• Maintain independence and objectivity
• Act with integrity, competence, and respect
• Maintain and improve their professional competence
• Disclose conflicts of interest and legal matters

Global Recognition

Passing the three CFA exams is a difficult feat that requires extensive study (successful candidates report spending over 300 hours of study per exam 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. As a result, employers and clients are increasingly seeking CFA charterholders, often making the charter a prerequisite for employment.

Additionally, regulatory bodies in 40 countries recognize the CFA charter as a proxy for meeting certain licensing requirements. More than 550 colleges and universities around the world have incorporated a majority of the CFA Program curriculum into their own finance courses.

Comprehensive and Current Knowledge

The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision making and is firmly grounded in the knowledge and skills used every day in the investment profession. The three levels of the CFA Program test a proficiency with a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed‐income and equity analysis, quantitative methods, corporate finance, alternative and derivative investments, economics, financial reporting and analysis, portfolio management, and wealth planning.

The CFA Program curriculum is updated every year by experts from around the world. Such updates ensure that candidates learn the most relevant and practical new tools, ideas, and investment wealth management skills to reflect the dynamic and complex nature of the profession.

To learn more about the CFA charter, visit www.cfainstitute.org.

CFP^® – CERTIFIED FINANCIAL PLANNER^™

The CERTIFIED FINANCIAL PLANNER^™(CFP^®) certification is a voluntary certification that is recognized in the United States and a number of other countries for its (1) high standard of professional education, (2) stringent code of conduct and standards of practice, and (3) ethical requirements that govern professional engagements with clients. Currently, more than 83,000 individuals have obtained CFP^® certification in the United States.

To attain the right to use the CFP^® marks, an individual must satisfactorily fulfill the following requirements:

• Education Requirement: Complete an advanced college‐level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a bachelor’s degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning;
• CFP^® Certification Examination Requirement: The examination, administered in two three-hour sessions over one day, includes case studies and client scenarios designed to assess one’s ability to integrate and apply a broad base of financial planning knowledge in the context of real life financial planning situations;
• Experience Requirement: Complete 6,000 hours of professional experience related to the financial planning process, or 4,000 hours of Apprenticeship experience that meets additional requirements; and
• Ethics Requirement: Agree to adhere to the high standards of ethics and practice outlined in the CFP Board’s Code of Ethics and Standards of Conduct and to acknowledge CFP Board’s right to enforce them through its Disciplinary Rules and Procedures This demonstrates to the public one’s agreement to provide personal financial planning in the client’s best interest and to act in accordance with the highest ethical and professional standards for the practice of financial planning.

Ethics and Continuing Education (CE)

Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP^® marks:

• Complete thirty hours of continuing education hours every two years, including two hours on the Code of Ethics and Standards of Conduct, to maintain competence and keep up with developments in the financial planning field;
• Complete a Certification Application every two years, which includes an acknowledgement of voluntary adherence to the terms and conditions of certifications with the CFP Board. The CFP Board monitors CFP^® professionals’ ongoing compliance with its ethical standards in addition to investigating consumer complaints, reviewing reports from other regulatory bodies and the press, and searching FINRA’s Central Registration Depository system; and
• Pay an annual certification fee.

CFP^® and CERTIFIED FINANCIAL PLANNER^™ are certification marks owned by the Certified Financial Planner Board of Standards, LLC. These marks are awarded to individuals who successfully complete the CFP Board’s initial and ongoing certification requirements.

To learn more about CFP^® certification, visit http://www.cfp.net/.

CPA – Certified Public Accountant

Certified Public Accountant (CPA) is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination (Uniform CPA Exam) and have met additional state education and experience requirements for certification as a CPA. The CPA was established in law in 1896.

The requirements for licensure as a CPA, which are set by each state’s board of accountancy, include completing a program of study in accounting at a college or university, passing the Uniform CPA Exam, and obtaining a specific amount of professional work experience in public accounting (the required amount and type of experience varies according to licensing jurisdiction).

One of the world’s leading licensing examinations, the Uniform CPA Examination, serves to protect the public interest by helping to ensure that only qualified individuals become licensed as CPAs. The Uniform CPA Exam is set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual state boards of accountancy. Typically, the requirement is a U.S. bachelor’s degree including a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study.

The subject matter areas covered by the Uniform CPA Exam include:

• Auditing and Attestation – Planning the engagement, internal controls, obtaining and documenting information, reviewing engagements and evaluating information, and preparing communications.
• Financial Accounting and Reporting – Concepts and standards for financial statements, typical items in financial statements, specific types of transactions and events, accounting and reporting for governmental agencies, and accounting and reporting for non-governmental and not-for-profit organizations.
• Regulation – Ethics and professional responsibility, business law, federal tax procedures and accounting issues, federal taxation of property transactions, federal taxation – individuals, and federal taxation – entities.
• Business Environment and Concepts – Business structures, economic concepts, financial management, information technology, and planning and measurement.

The Uniform CPA Exam tests primarily understanding and the ability to apply authoritative literature—such as auditing and accounting standards, the Uniform Commercial Code, and the Internal Revenue Code—that are universally adopted by all U.S. jurisdictions or are federal in nature.

Ethics and Continuing Professional Education (CPE)

Approximately 35 of the state boards of accountancy now require applicants for CPA status to complete a special examination on ethics. Many states require that the ethics course include a review of that state’s specific rules for professional practice.

CPAs are required to take continuing education courses in order to renew their license. Requirements vary by state, but the majority of states require 120 hours of CPE every three years with a minimum of 20 hours per calendar year. As part of the CPE requirement, most states require their CPAs to take an ethics course during every renewal period.

To learn more about the CPA; designation, visit www.AICPA.org.

CDFA^® – Chartered Divorce Financial Analyst^®

The Chartered Divorce Financial Analyst^® designation is issued by The Institute for Divorce Financial Analysts (IDFA^™), which is a national organization dedicated to the certification, education, and promotion of the use of financial professionals in the divorce arena. This designation is awarded to individuals who successfully complete the IDFA^™ initial and ongoing certification requirements.

Founded in 1993, IDFA^™ provides specialized training to accounting, financial, and legal professionals in the field of pre-divorce financial planning. Over the years, IDFA^™ has certified more than 5,000 professionals in the U.S. and Canada as Certified Divorce Financial Analyst^® professionals.

The CDFA^® designation is available to individuals who have a minimum of three years’ experience as a financial professional, accountant, or matrimonial lawyer and a four-year bachelor’s degree from an accredited university.

To acquire the designation, candidates must successfully pass all exams and be in good standing with their broker dealer (if applicable) and the FINRA/SEC or other licensing or regulatory agency.

To earn the designation, the participant must complete a series of self-study course modules and pass an examination for each module. The American module topics are:

• Fundamentals of divorce
• Financial issues of divorce
• Tax issues of divorce
• Working as a CDFA^®: case studies

Continued Education (CE)

To retain the Certified Divorce Financial Analyst^® designation, a CDFA^® must obtain fifteen divorce-related hours of Continuing Education (CE) every two years, remain in good standing with the IDFA^™, and keep his/her dues current.

To learn more about the CDFA^® designation, visit www.institutedfa.com.

CPWA^® – CERTIFIED PRIVATE WEALTH ADVISOR^™

The CPWA^® designation signifies that an individual has met initial and on-going experience, ethical, education, and examination requirements for the job of private wealth advisor, which is centered on management topics and strategies for high-net-worth clients.

Prerequisites

Candidates for the CPWA^® designation must obtain or have:

• a Bachelor’s degree from an accredited college or university or one of the following designations or licenses: CIMA^®, CIMC^®, CFA^®, CFP^®, ChFC^® or CPA license;
• acceptable ethical background / compliance history as decided in an admissions peer review process governed by the Ethics Board;
• five years of professional client-centered experience in financial services or a related industry;

Education

CPWA^® designees must complete a six-month pre-class educational component and an executive education program through an IWI-approved registered education program. CPWA designees are required to adhere to CPWA^® IMCA’s Code of Professional Responsibility and Rules and Guidelines for Use of the Marks.

Ethics and Continuing Education (CE)

CPWA^® designees must report 40 hours of continuing education credits, including two ethics hours, every two years to maintain the certification. The designation is administered through Investments and Wealth Institute.

To learn more about the CPWA^® certification, visit www.investmentsandwealth.org

CEPA – Certified Exit Planning Advisor

The Certified Exit Planning Advisor (CEPA) designation is an intensive 4-day executive MBA-style program and is the most widely accepted and endorsed professional exit planning program in the world. The Exit Planning Institute is the only organization that offers the Certified Exit Planning Advisor Program and qualifies for continuing education credits with twelve major professional associations, making it the most widely accepted and endorsed professional exit planning program in the world. Currently, more than 800 individuals worldwide have completed the curriculum and are certified.

About the CEPA Program

The Certified Exit Planning Advisor program was specifically designed for business advisors who work closely with owners of privately held companies. The organizing principle of the program is Master Planning, the alignment of the three legs of the stool (business, personal, financial), which is executed through the implementation of a process called the Value Acceleration Methodology^™. Using an executive MBA-style format, the program includes a combination of lectures, group discussions, case studies and individual exercises to introduce participants to these concepts and to reinforce skills. The program is taught by the Exit Planning Institute’s faculty of advisors, who are all sought after subject matter experts and authors.

To receive the CEPA designation, a candidate must complete a rigorous 4-day program that involves approximately one hundred hours of pre-course study, thirty hours of classroom instruction, and the successful completion of a 3-hour proctored exam.

About the Exit Planning Institute

The Exit Planning Institute delivers interactive education and training, performance-enhancing resources, and strategic tools designed to enhance the exit planning profession. Formed in 2005 to serve the educational and resource needs of wealth managers, financial planners, accountants, management consultants, attorneys, M&A advisors, commercial lenders, and other business advisors, the Institute is considered the standard trendsetter in the field of exit planning. It is the only organization that offers the Certified Exit Planning Advisor (CEPA) program which qualifies for continuing educational credits with twelve major professional associations, making it the most widely accepted and endorsed professional exit planning program in the world.

The Exit Planning Institute serves as a platform for creating awareness, advisor collaboration, innovative learning, continuing education, defining methodology, research, thought leadership, and practice development. Certified Exit Planning Advisors help to identify, protect, build, harvest and manage wealth to assist business owners and their families through an ownership transition.

To learn more about the Exit Planning Institute, please visit www.Exit-Planning-Institute.org

IACCP^® – Investment Advisor Certified Compliance Professional

The first industry designation of its kind, the Investment Adviser Certified Compliance Professional (IACCP^®), was developed by the Center for Compliance Professionals, the education and professional development division of National Regulatory Services (NRS), a resource closely in tune with the changing complexity of the financial securities compliance profession and provider of compliance education for over 20 years.

The IACCP^® is awarded to knowledgeable, experienced individuals who complete an instructor-led program of face-to-face and online study, pass a certifying examination, and meet work experience, ethics and continuing education requirements. The designation signifies knowledge of investment adviser regulation and compliance best practice, and adherence to national recognized professional standards and ethical leadership.

Exhaustive certification and course development, together with expert instructors and facilitators from the compliance, legal, regulatory, industry, and academic sectors, help ensure that individuals earning the IACCP^® designation have been trained, tested and certified to meet high industry professional standards.

IACCP^® is a certification owned by the Investment Adviser Compliance Certificate Program^®. This certification is awarded to individuals who successfully complete the program’s initial and ongoing certification requirements.

To learn more about the IACCP^® designation, visit www.investmentadviser.org.

Master Planner Advanced Studies^SM

Individuals who hold the MPAS^SM designation have completed a Master of Science degree with a major in personal financial planning. The program consists of 36 to 43 semester credits and delves deeply into personal financial planning or investment-related content using research-based coursework and real-world case studies. Graduates of the program are required to demonstrate critical thinking skills and complex problem-solving techniques. Additionally, individuals must complete assignments, projects, research, and papers and meet all graduation requirements for the Master of Science degree.

Ethics and Continuing Education

All designees have agreed to adhere to the Standards of Professional Conduct and are subject to a disciplinary process.

Designees renew their designation every two years by completing 40 hours of content-specific continuing education, reaffirming adherence to the Standards of Professional Conduct, and complying with self-disclosure requirements.

To learn more about the MPAS^® designation, visit their website.

AIFA^® – Accedited Investment Fiduciary Analyst^®

The Accredited Investment Fiduciary Analyst (AIFA^®), designation is granted by fi360, formerly known as the Center for Fiduciary Studies. It is the first and only designation that focuses on the process of conducting fiduciary assessments. Those who earn the AIFA^® mark, successfully complete a specialized program on investment fiduciary standards of care, pass a comprehensive examination and attest to a Code of Ethics. The AIFA^® designation represents a thorough knowledge of and ability to apply the fiduciary Practices. AIFA^® designees learn the Practices and the legal and best practice framework they are built upon. AIFA^® designees have a reputation in the industry for the ability to implement a prudent process into their own investment practices as well as being able to assist others in implementing proper policies and procedures. AIFA^® designees are qualified to conduct independent fiduciary reviews for nonprofit endowments and foundations, ERISA retirement plans, private family trusts and high net worth individuals. AIFA^® designees possess the ability and knowledge to advise clients of deficiencies in investment processes. It is also the required mark to perform CEFEX Fiduciary Certification, the independent recognition of a fiduciary’s conformity to all fiduciary Practices and Criteria.

Prerequisites

To become an AIFA^®, one must have graduated from fi360’s AIF^® training. In addition, there are specific prerequisite work experiences. Currently, there are approximately 10,900 active AIF^® designees and 450 active AIFA^® designees across several countries.

Additional Requirements

Once accredited, AIFA^® designees have the following obligations:

Sign and agree to abide by a Code of Ethics. Complete appropriate continuing education requirements of ten combined hours of continuing professional education each renewal year (at least six hours must be accumulated from fi360-produced sources).

Maintain current contact information in fi360’s designee database.

Remit annual dues.

To learn more about the certification, visit www.fi360.com.

ChFC^® – Chartered Financial Consultant^®

The ChFC^® designation has been a mark of excellence for financial planners for over thirty years and currently requires more courses than any other financial planning credential. The curriculum covers extensive education and application training in all aspects of financial planning, income taxation, investments, and estate and retirement planning.

To attain the right to use the ChFC^® marks, an individual must satisfactorily fulfill the following requirements:

• Education Requirements: ChFC^® candidates must complete eight college-level courses. The required courses include Financial Planning: Process and Environment; Fundamentals of Insurance Planning; Income Taxation; Planning for Retirement Needs; Investments; Fundamentals of Estate Planning; Personal Financial Planning; and Contemporary Applications in Financial Planning.
• ChFC^® Examination Requirements: Eight closed-book, course-specific, proctored exams;
• Experience Requirements: Candidates are required to have three-years of full-time, relevant business experience; and
• Ethics Requirements:  Must adhere to The American College’s Code of Ethics, which includes the following professional pledge: “I shall, in light of all conditions surrounding those I serve, which I shall make every conscientious effort to ascertain and understand, render that service which, in the same circumstances, I would apply to myself.”

Ethics and Continuing Education (CE)

To retain the Chartered Financial Consultant^® designation, a ChFC^® must complete the Professional Recertification Program. Designees are required to obtain thirty hours of continuing education every two years, with at least one hour of ethics CE required as part of that total. Annually, designees must recommit to The American College of Financial Services standard of ethics, reconfirm client-facing status, update their contact information, and pay the membership fee.

To learn more about the ChFC^® designation, visit TheAmericanCollege.edu/designations-degrees/ChFC.

CLU^® – Chartered Life Underwriter^®

The CLU^® designation is one of the oldest and most respected credentials in financial services, dating back to the late 1920s. It represents a thorough understanding of a broad array of personal risk management and life insurance planning issues and stresses ethics, professionalism, and in-depth knowledge in the delivery of financial advice.

To attain the right to use the CLU^® marks, an individual must satisfactorily fulfill the following requirements:

• Education Requirements:  CLU^® candidates must complete eight college-level courses, five required and three electives. The required courses include Fundamentals of Insurance Planning; Individual Life Insurance; Life Insurance Law; Fundamentals of Estate Planning; and Planning for Business Owners and Professionals. Elective topics cover financial planning, health insurance, income taxation, group benefits, investments, and retirement planning.
• CLU^® Examination Requirements:  Eight closed-book, course-specific, two-hour proctored exams;

• Experience Requirements:  Candidates are required to have three-years of full-time, relevant business experience; and
• Ethics Requirements:  Must adhere to The American College’s Code of Ethics, which includes the following professional pledge: “I shall, in light of all conditions surrounding those I serve, which I shall make every conscientious effort to ascertain and understand, render that service which, in the same circumstances, I would apply to myself.”

Ethics and Continuing Education (CE)

To retain the Chartered Life Underwriter^® designation, a CLU^® must complete the Professional Recertification Program. Designees are required to obtain thirty hours of continuing education every two years, with at least one hour of ethics CE required as part of that total. Annually, designees must recommit to The American College of Financial Services standard of ethics, reconfirm client-facing status, update their contact information, and pay the membership fee.

To learn more about the CLU^® designation, visit TheAmericanCollege.edu/designations-degrees/CLU.

CAP^® – Chartered Advisor in Philanthropy^®

The Chartered Advisor in Philanthropy^® (CAP^®) designation provides fundraisers and advisors with a common body of knowledge and a shared credential, enabling them to collaborate effectively with clients on legacy planning. The cross-disciplinary curriculum spans and synthesizes the arts and sciences of philanthropic planning, including taxation, finance, fundraising, purposeful planning, family dynamics, psychology, and strategic philanthropy. Advisors with the CAP^® designation are able to integrate charitable planning with the donor or client’s overall estate and business plan and help achieve a positive impact for themselves, heirs and their community.

Prerequisites

There are no prerequisite courses required before an advisor may begin the CAP^® program, however three years full-time, relevant business experience is required to use the designation.

Education

CAP^® designees must complete three required courses. CAP^® designees agree to comply with The American College Code of Ethics and Procedures.