Investment Management Consultants Association (IMCA®) is sending you this complimentary e-newsletter in appreciation of your support and interest in IMCA’s investment consulting and wealth management credentialing programs. E&T Leader is a compendium of industry-related news and information that addresses the field of financial services credentialing and presents additional information about IMCA’s knowledge offerings. If you would like to learn more, please e-mail Lara Davies or call 303.850.3081.

In this issue:

IMCA Changes CIMA Certification Scheme July 1
On July 1, applicants will enter a new process for the Certified Investment Management Analyst (CIMA) certification. Some individuals might be interested in signing up before the change, while others may want to enter the new system as an “early adopter.”

For an overview of how these changes affect your advisors please download our Overview of Changes to CIMA Certification document or direct your advisors to our CIMA/CIMC Transition Center. This site includes specific information about the changes and answers to most frequently asked questions. 

In addition, if you know an advisor who is considering the CIMA certification program, please send their name and contact information to Lara Davies at IMCA so that she may help answer their questions.

IMCA's Wealth Advisor Program Taps Demand for Advanced Skills
Group's increasingly popular designation helps retain high-net-worth clients, say advisors
Printed in InvestmentNews, May 10, 2009

The recession may have taken a toll on wealth, but wealth management is alive and well. In March, the number of designees in IMCA's Chartered Private Wealth Advisor (CPWA) program rose 22 percent year over year, from 177 to 256, with another 30 designees expected by the end of 2009. 

“People are looking for trust and confidence, and that's best gained through knowledge,” said John Moninger, who received his CPWA designation in September and heads LPL's wealth management business. “This kind of designation gives you a leg up on the competition and the necessary knowledge to compete for the high-net-worth client.”

According to Dede Pahl, executive director of IMCA, the increased interest in the designation reflects rising demand by wealth management experts who want to be “better prepared to deal with the complex issues facing their high-net-worth clients.” For the full article click here.

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CPWA Designation Accepted by Nebraska Department of Banking and Finance Bureau of Securities
CPWA Designation Joins IMCA’s Previously-Accepted CIMA Designation

The CPWA designation was accepted for use by investment advisor representatives and broker-dealer agents by the Nebraska Department of Banking and Finance Bureau of Securities. According to Interpretative Opinion No. 26, it is in the public interest and is necessary for the protection of Nebraska investors to issue this opinion regarding the use of certifications and designations by agents of broker-dealers and investment adviser representatives authorized to do business in Nebraska.

The state considers a number of criteria when evaluating acceptable designations, including the history and reputation of the issuing organization; the experience and educational requirements for obtaining the designation; the type, complexity, and length of the examination; the continuing education requirements; an adherence to ethical standards; and the disciplinary rules and procedures in place for revoking the designation.

“Nebraska is setting a standard by reviewing the financial designations used within the state,” said Dede Pahl, IMCA’s executive director. “We believe that IMCA’s CPWA designation is a high-quality, valid program, and we are proud to be included in Nebraska’s list of acceptable designations.” For more information click here.

IMCA Ideas—Online Newsletter Launched for Nonmember Advisors
IMCA updates the “Ideas” section of the Web site monthly with new peer-reviewed, technical articles on the following topics: institutional consulting, investment trends, wealth management, and best practices. Now IMCA will provide this content to its list of prospects and nonmember advisors via a new electronic newsletter, IMCA Ideas. To access this month’s issue, click here.

Your advisors may find it helpful to link to the IMCA Web site from your company’s intranet so that they can visit the Ideas area each month for compelling, relevant, timely information. To subscribe to IMCA Ideas or to find out more about a complimentary electronic subscription for your advisors, e-mail Lara Davies or call 303.850.3081.

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IMCA's Spring Conference Hosts 1,300+ and Delivers High Marks
More than 1,300 investment and wealth management professionals attended the IMCA 2009 Spring Professional Development Conference in San Diego, May 3–5, 2009.

IMCA President Garry W. Bridgeman, CIMA®, welcomed attendees to the conference during the annual business meeting. He told attendees that IMCA is a resource for its members in this turbulent environment. “Despite the uncertain economy and these unprecedented times, IMCA has been working hard to prepare for the future and to better serve our members,” he said. “We anticipate many good things to come this year, and we look forward to your support and suggestions along the way.”

Attendees customized their learning experience with concurrent educational tracks focusing on practice management, investment consulting, wealth management, and alternative investments. Another track was devoted to industry “hot topics,” and a variety of super sessions and workshops allowed attendees to further explore hot-button issues like target-date funds, helping clients create their legacies, sustainable and social investing, hedge fund due diligence, private equity investing in emerging markets, and lessons from the financial crisis. 

IMCA also presented four prestigious awards at the conference including the 2009 Matthew R. McArthur Award for Harry M. Markowitz, Ph.D. Dr. Markowitz was honored for his outstanding contributions to the profession of investment management consulting and to the advancement of the skills of investment management consulting. Dr. Markowitz is best known for his pioneering work in portfolio theory and is a recognized innovator in the fields of finance, economics, and technology. In 1990, his work was recognized, along with that of William F. Sharpe and Merton M. Miller, with the Nobel Memorial Prize in Economic Sciences. Dr. Markowitz also was a keynote speaker at the IMCA conference. Click here for information on the three other award winners.

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IMCA 2009 Advanced CIMA Workshop: The Best of Wharton Nears Capacity
This conference, held July 20–21, 2009, at The Inn at Penn in Philadelphia, PA, allows advisors to learn about diversification alternatives, prediction markets, and instinctual tools from renowned Wharton professors. Attendees may earn up to 13.5 hours of continuing education (CE) credit while interacting with Christopher Geczy, Ph.D., Kaihan Krippendorf, James Thompson, Michael Useem, Ph.D., Hendrie Weisinger, Ph.D., and Justin Wolfers, Ph.D. The presenters are hand-picked by Wharton’s Aresty Institute of Executive Education, and the event is capped at 165 to keep the learning experience intimate. Click here for more information.

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IMCA Launches NEW Essentials of Investment Consulting Certificate Program
IMCA has developed a certificate program specifically for financial services professionals who wish to enhance their fundamental knowledge of core topics related to the investment consulting process. The IMCA Essentials of Investment Consulting learning platform incorporates a comprehensive set of educational content and self-evaluation tools into an online, self-study environment. There are 12 learning modules organized within an online learning center, with each module offering written educational content, a key themes discussion area, and an application assignment (along with a self-assessment tool). There also are three quizzes offered during the 12-module online learning path, and several audio recordings presented by subject matter experts.

Learners can use the Essentials of Investment Consulting learning center in whatever way they choose:

  • As a resource for understanding topics that support the field of investment consulting
  • As a tool to help prepare for IMCA’s CIMA certification program
  • As a comprehensive certificate program

For more information click here or for questions and to discuss options for designing a custom Essentials of Investment Consulting certificate program for your firm please e-mail Lara Davies or call 303.850.3081.

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Resources for Education and Training Providers
Corporate training departments can access quick links and short descriptions of IMCA's educational programs, designations, and other investment consulting and wealth management offerings on IMCA's Training Resources Web page.
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IMCA—Investment Management Consultants Association delivers the premier investment consulting and wealth management designations and world-class educational offerings through membership, conferences, research, and publications.

For more information visit IMCA's Web site: