As a CIMA certificant, the following resources can help you communicate the value of your certification and answer other questions you may have.
Form ADV Brochure Supplement Description
Under SEC regulations that went into effect on October 12, 2010, investment advisors registered with the SEC must provide brochure supplements describing their educational and business backgrounds. Advisors whose fiscal years end on December 31 must deliver the brochure supplement (Part 2B) to new clients by July 31, 2011, and to existing clients by December 30, 2011.Full descriptions available for use in Brochure Supplements for the CIMA, CIMC, and CPWA certifications can be found below. In addition, a complimentary IMCA white paper with more details about the new regulations is available for download as well.
Descriptions about CIMA and CIMC certifications for Brochure Supplements:
Certified Investment Management Analyst® (CIMA®)
The CIMA certification signifies that an individual has met initial and ongoing experience, ethical, education, and examination requirements for investment management consulting, including advanced investment management theory and application. To earn CIMA certification, candidates must: submit an application, pass a background check and have an acceptable regulatory history; pass an online Qualification Examination; complete an in-person or online executive education program at an AACSB accredited university business school; pass an online Certification Examination; and have an acceptable regulatory history as evidenced by FINRA Form U-4 or other regulatory requirements and have three years of financial services experience at the time of certification.
CIMA certificants must adhere to IMCA’s Code of Professional Responsibility, Standards of Practice, and Rules and Guidelines for Use of the Marks. CIMA designees must report 40 hours of continuing education credits, including two ethics hours, every two years to maintain the certification. The designation is administered through Investment Management Consultants Association (IMCA).
Certified Investment Management Consultant (CIMC)
As of December 2003, new CIMC certifications are no longer granted. When the designation was issued, its content focused on investment consulting. Current CIMC designees can maintain the designation through Investment Management Consultants Association (IMCA). CIMC designees are required to adhere to IMCA’s Code of Professional Responsibility, Standards of Practice, Rules and Guidelines for Use of the Marks, and have an acceptable regulatory history as evidenced by FINRA Form U-4 or other regulatory requirements. CIMC designees must report 40 hours of continuing education credits, including two ethics hours, every two years to maintain the designation.
Series 65 and Series 7/66 Combination Exam Waivers for CIMA Certificants
The following states waive testing for the Series 65 and Series 7/Series 66 combination for CIMA license holders in good standing: Alaska, Colorado, and Missouri.
The following states waive testing for the Series 65 and Series 7/Series 66 combination for CIMA license holders on a case-by-case basis: Alabama, Delaware, District of Columbia, Idaho, Indiana, Kansas, Maryland, New Jersey, Rhode Island, South Carolina, South Dakota, Utah, Vermont, and West Virginia.
For information about obtaining a waiver, contact your state securities regulator. For a complete list of all states along with contact information for each state's securities regulator, click here.
Certificant and Candidate Complaint Process
Certificants and candidates can file a complaint with IMCA about certification policy, practice, or decisions. Complaints must be in writing, and can be submitted by email, mail, or fax to IMCA. Complaints must originate directly from the certificant and be incorporated into the Certification Complaint Form or the Candidate Complaint Form.
All complaints will be reviewed by an IMCA management team including its Chief Executive Officer. After review, complaints involving a request to change certification policies may be forwarded to the appropriate volunteer body with governing authority over the particular certification policy. With regard to complaints about all other certification activities, the certification department management team will make a determination. If the complaint does not relate to certification activities, it will be forwarded to the Senior Director of Administration and Chief Executive Officer for review and resolution. All decisions are final and not subject to appeal.