As a CPWA certificant, the following resources can help you communicate the value of your certification, and answer questions your clients 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 (map to PDF) with more details about the new regulations is available for download as well.
CERTIFIED PRIVATE WEALTH ADVISOR® (CPWA®)
The CPWA designation signifies that an individual has met initial and on-going experience, ethical, education, and examination requirements for the professional designation, which is centered on private wealth management topics and strategies for high-net-worth clients. Prerequisites for the CPWA designation are: a Bachelor’s degree from an accredited college or university or one of the following designations or licenses: CIMA®, CIMC ®, CFA®, CFP®, ChFC®, or CPA license; have an acceptable regulatory history as evidenced by FINRA Form U-4 or other regulatory requirements and five years of experience in financial services or delivering services to high-net-worth clients. CPWA designees have completed a rigorous educational process that includes self-study requirements, an in-class education component, and successful completion of a comprehensive examination. CPWA designees are required to adhere to IMCA’s Code of Professional Responsibility and Rules and Guidelines for Use of the Marks. CPWA 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).
Certificant Complaint Process
Certificants 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.
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.