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.

IMCA Seeks Third-Party Accreditation for Certified Investment Management Analyst^SM Designation
IMCA announced that it will seek third-party accreditation for the Certified Investment Management Analyst^SM, or CIMA^®, designation. Accreditation of the CIMA marks by an outside organization ensures that certification requirements meet industry standards for certifiers. IMCA will take the action to further demonstrate that it intends to maintain experience, education, examination, and ethical requirements that are at the forefront of professional development for investment management consultants. Learn more.

The CIMA Designation Turns 20
In 1988 the first class of CIMA professionals had 34 graduates, but today nearly 6,000 designees have met the standards required to obtain the credentials. IMCA and The Wharton School of Business at the University of Pennsylvania have partnered for 20 years to provide rigorous educational programs for investment consultants. Several years ago, another top American business school, the Haas School of Business at the University of California, Berkeley, began offering the CIMA Level II curriculum. Three CIMA classes are offered at the Haas School each year, with the most recent October class reaching capacity. In 2008 IMCA will have processed more than 850 CIMA applications. For more information about the CIMA designation, click here.

CIMA Certification Ranks Grow During Down Times
In tough economic times, certification programs tend to be counter-cyclical. Firms realize the value of making their advisors more knowledgeable, more marketable, and more credible than their competitors. IMCA has experienced an up-tick in interest in its designation programs during the past several months. Advisors have cited a number of reasons for their increased interest in IMCA’s CIMA designation program despite the current state of the economy. According to Sean Walters, CAE, IMCA’s deputy executive director, firms are looking to differentiate themselves by growing the credibility and confidence of their advisor workforce as a key strategy toward attracting and retaining advisors. “Advisors want to learn how to better manage money and build portfolios,” he said. “Prospective candidates have told us that today’s environment requires more complex solutions, and they need to know how to set and implement advanced investment strategies.”

IMCA Completes Second CPWA^SM Class at University of Chicago Booth School of Business
IMCA completed its second Chartered Private Wealth Advisor^SM—or CPWA—designation class at the University of Chicago Booth School of Business, September 22–26, 2008. Prior to the class, attendees were required to complete a seven-month, managed self-study program, and the group finished the in-class week with a three-hour comprehensive examination. Nearly 200 advanced wealth management experts now hold the designation. Learn more.

IMCA Now Accepting Applications for Limited Enrollment Program
Applications are now being accepted for the third CPWA program. The CPWA program is an advanced designation created specifically for financial advisors and consultants who work with high-net-worth clients on the life cycle of wealth: accumulation, preservation and protection, and distribution. Candidates who attain this designation gain superior expertise in advanced wealth management content, strategies, and applied concepts. In keeping with IMCA’s history of working only with prestigious business schools, the designation is offered in partnership with The University of Chicago Booth School of Business, named by BusinessWeek magazine as the number one business school in the United States. The first two CPWA programs sold out, and the next available course is open for enrollment, with pre-study commencing in April 2009, and the in-class portion scheduled for October 5–9, 2009. Learn more. 

New CPWA Designees Provide Insight into the Program
Nearly 200 wealth management experts now hold the CPWA designation. A few of them have shared with us the value the designation has brought to their practice:

“My confidence in dealing with larger clients is significantly higher than before my CPWA education.”
  -Brian Beasley, CPWA^SM, Athena Investment Group, LLC, Des Plaines, IL

“We recently sent six people from our staff through the CPWA certification program. We found the content to be excellent and relevant for advisors and individuals supporting the ultra-high-net-worth marketplace. Instructors, along with facilities at Chicago Booth, were first class. I would strongly recommend the CPWA program to individuals working with high-net-worth taxable clients.”
  -James Durocher, CPWA^SM, Eaton Vance Distributors, Inc., Boston, MA

“The program was terrific specifically as it relates to the classroom session where practical application was utilized. The education garnered through the curriculum has already paid off as we are now able to extrapolate, interpret, and provide expertise in areas we were unable to previously. Overall the experience, although intense as far as out-of-class workload, was well worth the effort.”
  -Randal Golden, CPWA^SM, FGMK/Preservation Capital Partners, LLC, Bannockburn, IL

“I am a 25–year veteran of the financial services business with most of that time on the wealth management side. One of the things that you realize in this business is that it is constantly changing—investment opportunities, tax and estate planning strategies, regulations, etc. If you are not constantly reinvesting in yourself and committed to continuous learning, you are in effect falling behind. There has been a proliferation of certifications and accreditations in this business. What attracted me to the CPWA program is that it is targeted to the advisor who works with the ultra-high-net-worth client. The other attractive aspect of the CPWA program is the partnership between IMCA and The University of Chicago Booth School of Business. Both organizations bring a high level of intellectual capital to the table. I began applying the knowledge gained in this program immediately—while I was still going through the program.”
  -Charles Mueller, CPWA^SM, Northern Trust, Chicago, IL

IMCA Launches Industry Spotlight Series to Aid Members
IMCA has launched a new service that focuses on current issues—IMCA’s Industry Spotlight Series. Through this series IMCA has committed to offering a greater focus on industry-related news and developments. Resources include timely, relevant articles; archived podcasts featuring Jonathan Golub, former chief investment strategist at Bear Stearns; and a twice-daily e-mail alert powered by FirstRain, which provides alternative research on today's turbulent financial markets. Learn more.

IMCA Client Appreciation Luncheon Scheduled for New York
IMCA would like to invite you to our Client Appreciation Luncheon held in conjunction with the IMCA 2009 New York Consultants Conference on Tuesday, January 13, 2009, at the Grand Hyatt New York. Attend the luncheon to hear about IMCA’s plans for 2009 and beyond. We would also like to invite you to attend the closing day of our conference with keynote addresses by industry experts (topics and schedule below). To attend the luncheon you must RSVP to Lara Davies by e-mail or by calling 303.850.3081. Space is limited, so don’t delay!

8–9 a.m.: Economic and Market Landscape, Liz Ann Sonders, MBA, Charles Schwab & Co., Inc.
9–10 a.m.: Critical Thinking, Kathy Pearson, Ph.D., The Wharton School, University of Pennsylvania
10:30–11:30 a.m.: Moral Intelligence, Doug Lennick, CFP^®, Lennick Aberman Group
11:30 a.m.–12:30 p.m.: Washington to Wall Street, Lawrence Kudlow, Kudlow & Co.
12:30 p.m.: Client Appreciation Luncheon

IMCA Hires Lara Davies as Corporate Relations Manager
Lara Davies recently was hired as IMCA’s corporate relations manager and will be responsible for developing IMCA’s corporate relationships within the financial services industry. Lara joins the IMCA staff after 13 years at the U.S. Chamber of Commerce, most recently as executive director of the corporate research department. 

She was a founding member of the Chamber's development division and with a staff of 12, she was charged with profiling major U.S. corporations in an effort to identify key issues and characteristics which would later be leveraged to encourage Chamber membership. If you are interested in helping IMCA to grow the number of CIMA and CPWA professionals within your firm, please e-mail Lara or call her at 303.850.3081.

Intranet Links and Descriptions
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.