CIMA certificants on a fast track to CFP certification



July 12, 2017

The Financial Planning Association of Australia (FPA) has exempted Certified Investment Management Analyst® (CIMA®) certificants from a core component of the Certified Financial Planner® (CFP®) program. The exemption offers Australian CIMA certificants an accelerated path to CFP certification, and supports growing recognition of CIMA certification as the peak international, technical portfolio construction certification program, for investment and wealth management practitioners and advocates.
Following an independent assessment of the CIMA program, the FPA has awarded “advanced standing” status to CIMA certificants for the CFP 4: Investment Strategies unit. CFP 4 focuses on the development of investment strategies in accordance with the personal circumstances of clients, and constitutes one of four modules which non-exempt CFP candidates must complete, prior to final assessment. Exemption from CFP 4 will be granted to CIMA certificants who meet the entry requirements for CFP, and who request advanced standing when they enrol in the CFP program.

Advanced standing for CFP 4 brings several benefits, allowing exempted CFP candidates to save an estimated 120 hours of study time, and reducing course fees by as much as A$1,550 (based on the charging structure for 2017).

The exemption additionally provides independent confirmation that CIMA certification meets level nine of the government-managed Australian Qualifications Framework, and that CIMA designees have therefore completed a master’s degree-level educational program.

“The FPA’s decision is a welcome recognition of the high educational standards of the CIMA program,” said Graham Rich, managing partner and dean of PortfolioConstruction Forum, which manages and delivers the CIMA program in Australia. “Advanced standing is good news for CIMA certificants who want to use their investment skill and knowledge as a financial planner, and for certificants who work in business development and who wish to gain a greater understanding of the financial planning role.”
Shaun Weston-Cole, head of education at the FPA, said: “The FPA welcomes the addition of the Certified Investment Management Analyst (CIMA) certification to the list of quality education providers approved for advanced standing for the CFP 4 unit of the CFP Certification Program.”

SOURCE: PortfolioConstruction Forum

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