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What Should Investors Look For?
- Appropriate Credentialing – Does your advisor hold rigorous, relevant credentials that require the “four E’s” to earn and maintain their credential? All CIMA professionals have completed a background check and a minimum experience requirement, are educated by the best schools in the nation, pass a comprehensive examination, adhere to a professional code of standards, and maintain 40 hours of continuing education every two years.
- Background – Referral through trusted sources is still one of the best ways to find an advisor you can work with. Investment Management Consultants Association (IMCA) can provide you with a list of CIMA professionals in your area.
- Compensation – Individuals should be knowledgeable about what they are paying for and how they are paying. That’s why each CIMA professional as part of their IMCA Code of Professional Responsibility will disclose fully to clients services provided and compensation received.
- Chemistry – Selecting an advisor is a personal choice like selecting a doctor. The investor should feel at ease and comfortable with their advisor. While the CIMA designation is definitely a sign that an advisor has taken their competence to proficiency, the decision must ultimately come down to one of interpersonal connection and comfort.
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IDEAS
