FOR RELEASE
September 4, 2009

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Beau Ballinger
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IMCA’s Certified Private Wealth Advisor Certification Program Enhances Curriculum
Greater focus placed on asset protection, behavioral finance, and client communication

DENVER—September 4, 2009—Investment Management Consultants Association (IMCA^®) recently augmented the curriculum for the CPWA^® certification program with enhancements to specific topics like behavioral finance and risk management.

“IMCA’s wealth management committee recognized the need for more advanced content regarding risk management, specifically in light of the pending legislation that would impact asset protection,” said Jim Dobbs, education consultant for IMCA. “If you are having tax reporting discussions with your high-net-worth clients, you need to know how to best serve and protect them and yourselves.”

The CPWA certification program, taught in conjunction with The University of Chicago Booth School of Business, is designed to provide expertise in advanced wealth management content, strategies, and applied concepts, and includes core topics of ethics, tax planning, portfolio management, planning for executives, retirement planning, planning for closely held business owners, risk management, charitable planning, behavioral finance, and estate planning.

“The behavioral finance content provides deeper insight on handling rejection and negative feedback as it relates to market performance, particularly given the challenges that have occurred in the industry over the past year and a half,” said Mr. Dobbs. “The younger members of multi-generational families or businesses aren’t as forgiving as the patriarch or matriarch might have been. The CPWA certification program helps advisors of high-net-worth individuals and families better manage these emotional situations.”

The CPWA certification program begins with an approximate six-month structured pre-study period followed by a five-day class at Chicago Booth. The in-class portion of the program culminates with a four-hour comprehensive examination, and after passing the exam candidates must agree to adhere to IMCA’s Code of Professional Responsibility to complete the certification program.

“Graduates of the program have told us that they believe that wealth management professionals, like medical professionals, should have a strong foundation in generalized knowledge and specialized knowledge in order to best deliver their services,” said Dede Pahl, IMCA’s executive director. “Our wealth management committee is dedicated to ensuring the curriculum provides that foundation and we continue to see increased interest in the program from advisors seeking advanced skills and strategies for serving the needs of their high-net-worth clients.”

The minimum experience requirement for CPWA participants is five years, but 80 percent of CPWA professionals have more than 10 years of experience, and 35 percent have been in business for more than 20 years. Forty-one percent are employed by a full-service investment brokerage company, 17 percent are employed by a bank/trust company, and 17 percent are with independent registered investment advisory firms. A quarter of the participants are responsible for managing more than $500 million and an additional 35 percent are responsible for managing more than $150 million.

Pre-study for the next CPWA certification program begins later this month and the in-class session at Chicago Booth is slated for March 8–12, 2010. For more information about the program and to apply click here.

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