When it comes to financial advisor certifications and professional designations, there are many options to choose from. Here we will outline the top seventeen financial advisor certifications, professional designations, and the exams required to obtain them. Whether you are just starting your financial advisor career or looking to expand your knowledge and credentials, this article is for you.
1. Certified Financial Planner (CFP)
The Certified Financial Planner certification is among the most popular and well-respected financial advisor certifications. To qualify for a CFP, you must have a bachelor’s degree and at least three years of financial planning experience. It is a comprehensive financial planning designation that requires passing an exam and completing a financial planning course.
To take the exam, you must first complete a financial planning course offered by financial planning schools or the CFP Board. The CFP exam covers topics such as financial analysis, risk management, insurance planning, tax planning, retirement planning, and estate planning, so you need to have a thorough knowledge of these topics. After passing the exam, you will need to complete a financial planning capstone course and agree to uphold the CFP code of ethics. The exam costs $695 and the financial planning course will cost around $2,500.
2. Chartered Financial Consultant (ChFC)
The American College offers the Chartered Financial Consultant designation and it is one of the most comprehensive financial advisor designations. To qualify for the ChFC, you must have a bachelor’s degree and at least two years of financial planning experience. The ChFC exam covers topics such as financial statement analysis, risk management, investment planning, tax planning, retirement planning, and estate planning.
To take the exam, you must first complete a financial planning course offered by the American College or another financial planning school. The exam costs $795 and the financial planning course will cost around $3,000. After passing the exam, you will need to agree to uphold the ChFC code of ethics.
3. Chartered Financial Analyst (CFA)
The Chartered Financial Analyst designation is offered by the CFA Institute and it is one of the most popular financial advisor designations. To qualify for the CFA, you must have a bachelor’s degree and at least four years of financial planning experience. The CFA exam covers financial statement analysis, portfolio management, investment analysis, and financial ethics.
To take the exam, you must complete a financial planning course offered by the CFA Institute or another financial planning school. The exam costs $950 and the financial planning course will cost around $3,000. After passing the exam, you will need to agree to uphold the CFA code of ethics.
4. Chartered Investment Counselor (CIC)
The Chartered Investment Counselor designation is offered by the Investment Counsel Association of America, and it is one of the most popular financial advisor designations. To qualify for the CIC, you must have a bachelor’s degree and at least four years of financial planning experience. The CIC exam covers portfolio management, investment analysis, and financial ethics.
To take the exam, you must first complete a financial planning course offered by the Investment Counsel Association of America or another financial planning school. The exam costs $1,000 and the financial planning course will cost around $3,000. After passing the exam, you must agree to uphold the CIC code of ethics.
5. Certified Public Accountant (CPA)
The Certified Public Accountant designation is offered by the American Institute of CPAs, and it is one of the most popular financial advisor designations. To qualify for the CPA, you must have a bachelor’s degree and at least two years of financial planning experience. The CPA exam covers topics such as financial statement analysis, tax planning, and financial ethics.
To take the exam, you must first complete a financial planning course offered by the American Institute of CPAs or another financial planning school. The exam costs $1,200 and the financial planning course will cost around $3,000. After passing the exam, you must agree to uphold the CPA code of ethics.
6. Certified Management Accountant (CMA)
The Certified Management Accountant designation is offered by the Institute of Management Accountants and it is one of the most popular financial advisor designations. To qualify for the CMA, you must have a bachelor’s degree and at least two years of financial planning experience. The CMA exam covers financial statement analysis, cost accounting, and financial decision-making.
To take the exam, you must complete a financial planning course offered by the Institute of Management Accountants or another financial planning school. The exam costs $1,300, and the financial planning course will cost around $3,000. After passing the exam, you must agree to uphold the CMA code of ethics.
7. Certified Treasury Professional (CTP)
The Certified Treasury Professional designation is offered by the Association for Financial Professionals, and it is one of the most popular financial advisor designations. To qualify for the CTP, you must have a bachelor’s degree and at least two years of financial planning experience. The CTP exam covers cash management, financial analysis, and financial risk management.
To take the exam, you must complete a financial planning course offered by the Association for Financial Professionals or another financial planning school. The exam costs $1,400 and the financial planning course will cost around $3,000. After passing the exam, you must agree to uphold the CTP code of ethics.
8. Certified Fund Specialist (CFS)
The Institute of Business & Finance offers the Certified Fund Specialist designation, and it is one of the most popular financial advisor designations. To qualify for the CFS, you must have a bachelor’s degree and at least two years of financial planning experience. The CFS exam covers portfolio management, investment analysis, and financial ethics.
To take the exam, you must complete a financial planning course offered by the Institute of Business & Finance or another financial planning school. The exam costs $1,500, and the financial planning course will cost around $3,000. After passing the exam, you must agree to uphold the CFS code of ethics.
9. Certified Financial Risk Manager (CFRM)
The Global Association of Risk Professionals offers the Certified Financial Risk Manager designation, and it is one of the most popular financial advisor designations. To qualify for the CFRM, you must have a bachelor’s degree and at least two years of financial planning experience. The CFRM exam covers financial risk management, investment analysis, and financial modeling topics.
To take the exam, you must first complete a financial planning course offered by the Global Association of Risk Professionals or another financial planning school. The exam costs $1,600 and the financial planning course will cost around $3,000. After passing the exam, you will need to agree to uphold the CFRM code of ethics.
10. Certified Investment Management Analyst (CIMA)
The Certified Investment Management Analyst designation is offered by the Investment Management Consultants Association and it is one of the most popular financial advisor designations. To qualify for the CIMA, you must have a bachelor’s degree and at least two years of financial planning experience. The CIMA exam covers topics such as portfolio management, investment analysis, and financial markets.
To take the exam, you must first complete a financial planning course offered by the Investment Management Consultants Association or another financial planning school. The exam costs $1,700 and the financial planning course will cost around $3,000. After passing the exam, you will need to agree to uphold the CIMA code of ethics.
11. Certified Financial Fiduciary (CFF)
The Certified Financial Fiduciary designation is offered by the Foundation for Fiduciary Studies and it is one of the most popular financial advisor designations. To qualify for the CFF, you must have a bachelor’s degree and at least two years of financial planning experience. The CFF exam covers topics such as fiduciary duty, investment analysis, and financial planning.
To take the exam, you must first complete a financial planning course offered by the Foundation for Fiduciary Studies or another financial planning school. The exam costs $1,800 and the financial planning course will cost around $3,000. After passing the exam, you will need to agree to uphold the CFF code of ethics.
12. Certified Private Wealth Advisor (CPWA)
The Institute for Private Investors offers the Certified Private Wealth Advisor designation and it is one of the most popular financial advisor designations. To qualify for the CPWA, you must have a bachelor’s degree and at least two years of financial planning experience. The CPWA exam covers wealth management, investment planning, and financial counseling.
To take the exam, you must first complete a financial planning course offered by the Institute for Private Investors or another financial planning school. The exam costs $1,900 and the financial planning course will cost around $3,000. After passing the exam, you will need to agree to uphold the CPWA code of ethics.
13. Chartered Alternative Investment Analyst (CAIA)
The Chartered Alternative Investment Analyst designation is offered by the Alternative Investment Management Association and it is one of the most popular financial advisor designations. To qualify for the CAIA, you must have a bachelor’s degree and at least two years of financial planning experience. The CAIA exam covers topics such as alternative investments, portfolio management, and financial markets.
To take the exam, you must first complete a financial planning course offered by the Alternative Investment Management Association or another financial planning school. The exam costs $2,000 and the financial planning course will cost around $3,000. After passing the exam, you will need to agree to uphold the CAIA code of ethics.
14. Accredited Asset Management Specialist (AAMS)
The Accredited Asset Management Specialist designation is offered by the College for Financial Planning and it is one of the most popular financial advisor designations. To qualify for the AAMS, you must have a bachelor’s degree and at least two years of financial planning experience. The AAMS exam covers topics such as asset allocation, portfolio management, and financial markets.
To take the exam, you must first complete a financial planning course offered by the College for Financial Planning or another financial planning school. The exam costs $2,100 and the financial planning course will cost around $3,000. After passing the exam, you will need to agree to uphold the AAMS code of ethics.
15. Retirement Income Certified Professional (RICP)
The American College of Financial Services offers the Retirement Income Certified Professional designation and it is one of the most popular financial advisor designations. To qualify for the RICP, you must have a bachelor’s degree and at least two years of financial planning experience. The RICP exam covers retirement income planning, investment strategies, and risk management.
To take the exam, you must complete a financial planning course offered by the American College of Financial Services or another financial planning school. The exam costs $2,200, and the financial planning course will cost around $3,000.
16. Certified International Wealth Manager (CIWM)
The American Academy of Financial Management offers the Certified International Wealth Manager designation, one of the most popular financial advisor designations. To qualify for the CIWM, you must have a bachelor’s degree and at least two years of financial planning experience. The CIWM exam covers global financial markets, investment strategies, and wealth management.
To take the exam, you must complete a financial planning course offered by the American Academy of Financial Management or another financial planning school. The exam costs $2,500 and the financial planning course will cost around $3,000.
17. Licensed International Financial Analyst (LIFA)
The International Association of financial analysts offers the Licensed International Financial Analyst designation, and it is one of the most popular financial advisor designations. To qualify for the LIFA, you must have a bachelor’s degree and at least two years of financial planning experience. The LIFA exam covers global financial markets, investment strategies, and financial analysis.
To take the exam, you must first complete a financial planning course offered by the International Association of financial analysts or another financial planning school. The exam costs $2,700 and the financial planning course will cost around $3,000.
Conclusion
These are just a few of the available financial advisor certifications and professional designations. With so many options, deciding which one is right for you can be difficult. However, by taking the time to research the different options and speaking with a financial advisor, you can find the best fit for your needs.