DENVER--(BUSINESS WIRE)--The Investments & Wealth Institute™ (Institute) released research findings today from a recent study, “The Value of CIMA Certification to an Advisor’s Practice,” exploring how the organization’s Certified Investment Management Analyst® (CIMA®) certification correlates with practice success and career satisfaction for advisors.
The research study, fielded by the Aite Group, gathered input from 436 advisors, including 104 with a CIMA certification, between April and May 2017. More than 60 percent of CIMA-certified professionals surveyed indicated that their CIMA certification had a considerable impact on their knowledge of investment management, confidence providing investment advice to high-net-worth clients, and ability in managing their clients’ investments – earning them greater trust and satisfaction from their clients.
Other findings include:
- CIMA advisors in solo practices generate about five times the assets per client than other advisor practices.
- The mean assets per client of CIMA practices is 2.9 times higher than non-CIMA practices.
- Practices with CIMA professionals generated 25 percent more revenue over the last 12 months than practices with non-CIMA advisors.
- Twenty six percent of practices with at least one CIMA advisor experienced more than a 10 percent increase in revenue growth over the last five years, versus 18 percent of non-CIMA practices.
- CIMA practices manage $385 million in client assets on average and generate $1.9 million in revenue.
CIMA advisors cite a mix of both client-facing and career-oriented reasons for pursuing the CIMA certification. More than half (56 percent) want to enhance their career, while 37 percent want to convey their expertise to clients, as well as enhance their wealth management knowledge. Thirty-two percent take a collaborative approach, saying they seek to add expertise and skills to their teams.
“Today’s advisors seek an education that will give them the advanced knowledge and skills required to handle complex asset and investment scenarios,” said Sean Walters, CAE, chief executive officer, Investments & Wealth Institute. “The success CIMA advisors have in these areas compared to other designations is significant.”
One of the most important benefits advisors see in obtaining their CIMA certification is the credibility and expertise it confers. Compared to other financial advisor designations, CIMA professionals’ satisfaction with their education ranks higher: fifty four percent of CIMA professionals strongly agree that obtaining their certification was worth their time and effort, compared to 51 percent of CFPs, 41 percent of CFAs and 31 percent of CPAs/PFS holders.
In addition to gaining revenue and a premier, client-centered education, CIMA advisors are integral members of their team. Teams with at least one CIMA-certified advisor generate 25 percent more revenue than non-CIMA practices (generating $1.9 million in revenue versus $1.4 million). Moreover, a majority (70 percent) of CIMA practices are in team practices, versus 45 percent of non-CIMA practices. Nearly three-quarters (72 percent) of CIMA practices boast more than one CIMA advisor.
Offered since 1988, CIMA certification is the peak international, technical portfolio construction certification program designed for investment consultants, analysts, financial advisors and wealth management professionals. The education requirement for CIMA certification program is currently offered through The Wharton School, University of Pennsylvania, University of Chicago Booth School of Business, Yale School of Management and the University of Technology-Sydney. The CIMA program is currently the only financial advisor designation in the U.S. to meet international accreditation standards (ANSI/ISO 17024) for personnel certification.
For Additional Information:
For information about the CIMA certification or “The Value of CIMA Certification to an Advisor’s Practice,” contact Greta Gloven, ggloven@i-w.org or (303) 850-3079.
About the Investments & Wealth Institute
Established in 1985, the Investments & Wealth Institute™ is a professional association, advanced education provider, and standards body for financial advisors, investment consultants, and wealth managers who embrace excellence and ethics. Serving individual members and certificants in 38 countries around the world, Institute members collectively manage more than $3 trillion, providing investment consulting and wealth management services to individual and institutional clients.
Since 1988, the Institute, formerly known as IMCA, has offered the Certified Investment Management Analyst® certification (CIMA®), which meets international accreditation standards (ANSI/ISO 17024) for personnel certification. The CIMA certification consistently distinguishes those who meet a global standard of competency and skills in investment management from those who do not. The Institute’s Certified Private Wealth Advisor® (CPWA®) certification is suited for wealth management professionals working with high-net-worth clients. In 2016d, IMCA’s educational programs hosted more than 6,000 professionals.
The Investments & Wealth Institute™, IMCA® and Investment Management Consultants Association® are registered trademarks of Investment Management Consultants Association Inc. doing business as Investments & Wealth Institute. CIMA®, Certified Investment Management Analyst®, CIMC®, CPWA®, and Certified Private Wealth Advisor® are registered certification marks of the Investment Management Consultants Association Inc. doing business as Investments & Wealth Institute. RMA℠ and Retirement Management Advisor℠ are marks owned by Investment Management Consultants Association Inc. doing business as Investments & Wealth Institute. The Institute does not discriminate in educational opportunities or any other characteristic protected by law.
