FOR IMMEDIATE RELEASE
CIMA® Program Reaccredited under International Standard for Personnel Certification
CIMA program deemed to consistently qualify investment advisors as a global certification standard
DENVER—SEPTEMBER 26, 2016—IMCA® announced today that its prestigious Certified Investment Management Analyst® (CIMA®) program has met all requirements to be reaccredited by American National Standards Institute (ANSI®) under the international standard ISO/IEC 17024:2012.
“There are literally hundreds of designations available to financial professionals. ANSI accreditation differentiates CIMA certification from the alphabet soup, assuring consumers, employers, and regulators that the CIMA marks are granted and administered under a global certification process that is credible and legitimate,” said Sean Walters, IMCA Chief Executive Officer.
In 2011, IMCA initially met the requirements for CIMA certification to become the first financial services credential in the United States to be accredited by ANSI. To maintain its five-year accredited status, IMCA submitted annual renewal applications, completed bi-annual in person audits conducted by ANSI assessors, and was reaccredited by ANSI for each year of the five-year period. Upon reapplication in 2016, IMCA expanded the scope of the CIMA certification to include all of its global CIMA certification activities. IMCA currently administers its CIMA certification to applicants, candidates, and certificants located in 37 countries.
The American National Standards Institute, or ANSI, is a private non-profit organization that oversees a broad array of standards development and accreditation activities in the United States, including standards for products, services, processes, systems, and personnel. ANSI is the official U.S. representative to the International Organization for Standardization (ISO). Government agencies, organizations and individuals are increasingly turning to ANSI accreditation for validation of certification programs and to help reduce fraud and misuse in certain industries. Accredited certifications contribute to the integrity, confidence and mobility of certified professionals.
IMCA was granted reaccreditation after being evaluated by ANSI on a range of activities set forth in ANSI’s standard. IMCA has, among other things, successfully demonstrated that CIMA certification requirements, policies and procedures are fair, objective, open and transparent. IMCA demonstrated sound management systems and a process that consistently distinguishes those who meet a global standard of competency and skills in investment management from those who do not.
CIMA candidates must successfully demonstrate three years’ acceptable experience in financial services and pass two levels of certification exam, each with an average first-time pass rate of less than 60%. In addition, candidates must attend and complete an executive education program, currently offered in conjunction with The Wharton School, University of Pennsylvania, The University of Chicago Booth School of Business, and The Paul Woolley Centre of the University of Technology, Sydney.
Certifications, unlike degrees or educational designations, require proof of continued competency in the field in which one is certified. IMCA requires continuing education (CE) to help maintain and update certificants’ competence. All CIMA certificants are responsible for completing and reporting 40 hours of CE, which includes a minimum of two ethics hours, every two years. In addition, IMCA enforces adherence to its Code of Professional Responsibility through its Disciplinary Rules and Procedures, which are administered by a volunteer-run Professional Review Board.
Established in 1985, Investment Management Consultants Association® (IMCA®) is a nonprofit professional association and credentialing organization with more than 11,200 individual members and certificants worldwide. IMCA’s mission is to deliver premier investment and wealth management credentials and world-class education. Since 1988, IMCA has offered the Certified Investment Management Analyst® (CIMA®) certification, which is accredited by the American National Standards Institute (ANSI), to meet international standards (ISO 17024) for personnel certification. IMCA’s Certified Private Wealth Advisor® (CPWA®) certification is suited for wealth management professionals working with high-net-worth clients. In 2015, IMCA conferences, online education and regional seminars hosted more than 4,500 attendees.
IMCA® and Investment Management Consultants Association® are registered trademarks of Investment Management Consultants Association Inc. CIMA®, Certified Investment Management Analyst®, CIMC®, CPWA®, and Certified Private Wealth Advisor® are registered certification marks of Investment Management Consultants Association Inc. Investment Management Consultants Association Inc. does not discriminate in educational opportunities or practices on the basis of race, color, religion, gender, national origin, age, disability, or any other characteristic protected by law.