New Aite Study Correlates Superior Levels of Advisor Knowledge and Success with Certified Private Wealth Advisor Certification

Aite study of advisors shows Certified Private Wealth Advisor® (CPWA®) knowledge, responsibility and performance significantly outpaces non-CPWA advisors

DENVER--()--Investments & Wealth Institute® (formerly IMCA) released research findings today from a new study, “Building High-Net-Worth Knowledge Through the CPWA Certification,” exploring how the organization’s Certified Professional Wealth Advisor® (CPWA®) certification correlates with superior levels of advisor knowledge and success.

The research study, fielded by the Aite Group, gathered input from 436 advisors, including 77 with a CPWA certification, between April and May 2017. The designation was found to have immense value, with more than 65 percent of CPWA professionals stating that the designation led to knowledge of investment management, confidence in managing investments and increase in client trust.

Other findings include:

  • The mean assets per client of CPWA practices ($7.3 million) is nearly four times the assets per client of non-CPWA practices.
  • Revenue generated over the last 12 months ($1.9 million) is 43 percent higher for practices with CPWA professionals than for non-CPWA advisors.
  • 77 percent of CPWA professionals have at least two designations (versus 43 percent of non-CPWA advisors).
  • 34 percent of CPWA professionals have earned a graduate degree versus 24 percent of non-CPWA advisors, indicating CPWA professionals are more dedicated to obtaining advanced levels of education.

In addition to their high levels of education and responsibility, CPWA advisors hold more experience than other industry professionals. CPWA professionals have 2.9 more years of experience than non-CPWA advisors, and the mean CPWA professional has accumulated 13.5 years of industry experience, whereas other advisors have accumulated a mean of 12 years of experience.

“Competition for high-net-worth investors is fierce, and these clients expect their advisors to have the depth of knowledge and ethics necessary to navigate their sophisticated needs successfully,” said Sean Walters, CAE, chief executive officer, Investments & Wealth Institute. “The demonstrated level of education, responsibility and superior performance among CPWA advisors compared to other advisors is significant and reflects the quality and standards of the certification. The CPWA is an advanced credential, offering Ivy League quality and practical tools and techniques designed to help practitioners differentiate themselves in a global, and highly sophisticated marketplace.”

CPWA advisors also showed high levels of achievement when working in teams. Seventy-six percent of CPWA practices are team practices, and the average CPWA team practice manages $438 million in client assets to generate $2.1 million in revenue. These teams are highly credentialed, with 79 percent of CPWA team practices holding CPWA, CFP and CFA designations, and 64 percent of CPWA practices have more than one CPWA professional on staff.

Certified Private Wealth Advisor® (CPWA®) is an advanced professional certification (minimum five years experience) for advisors who serve high-net-worth clients. It is designed for seasoned professionals who seek the latest, most advanced knowledge and techniques to address the sophisticated needs of clients with a minimum net worth of $5 million. Unlike credentials that focus specifically on investing or financial planning, the CPWA program takes a holistic and multidisciplinary approach. The education requirement for CPWA certification program is currently offered through the University of Chicago Booth School of Business and online through the Yale School of Management.

For Additional Information:

For information about the CPWA certification or the “Building High-Net-Worth Knowledge through the CPWA Certification” study, contact Greta Gloven, ggloven@i-w.org or (303) 850-3079.

About the Investments & Wealth Institute

Established in 1985, the Investments & Wealth Institute, formerly known as IMCA, is a professional association, advanced education provider, and standards body for financial advisors, investment consultants, and wealth managers who embrace excellence and ethics. Through its publications, events, assessment-based certificate programs, and advanced certifications, the Institute delivers premier-quality, practical education to advanced practitioners in more than 38 countries.

The Certified Investment Management Analyst® (CIMA®) certification is the peak international, technical portfolio construction program for investment consultants, analysts, financial advisors and wealth management professionals. The CIMA program is distinctive as one of only a few global certifications in financial services to meet international accreditation and quality standards (ANSI/ISO 17024) for personnel certification programs. The Certified Private Wealth Advisor® (CPWA®) certification is an advanced professional certification for advisors who serve high-net-worth clients. It’s designed for seasoned professionals who seek the latest, most advanced knowledge and techniques to address the sophisticated needs of clients with a minimum net worth of $5 million. Unlike credentials that focus specifically on investing or financial planning, the CPWA program takes a holistic and multidisciplinary approach.

The Investments & Wealth Institute®, IMCA®, Investment Management Consultants Association®, CIMA®, Certified Investment Management Analyst®, CIMC®, Certified Investment Management ConsultantSM, CPWA®, Certified Private Wealth Advisor®, RMASM, and Retirement Management AdvisorSM are trademarks of Investment Management Consultants Association Inc. doing business as The Investments & Wealth Institute. The Investments & Wealth Institute does not discriminate in educational opportunities or any other characteristic protected by law.

Contacts

Investments & Wealth Institute
Greta Gloven, 303-850-3079
ggloven@i-w.org

Release Summary

Aite study of advisors shows Certified Private Wealth Advisor knowledge, responsibility, and performance significantly outpaces non-CPWA advisors

Contacts

Investments & Wealth Institute
Greta Gloven, 303-850-3079
ggloven@i-w.org