The Investment Management Consultants Association released research on Monday at its annual conference in Seattle that it says shows advisors with certified investment management analyst certification earn more, see stronger asset growth and express greater career satisfaction than those without the designation.
Additionally, one-third of CIMA professionals report earning more than $380,000 a year, compared with just 6% of other financial advisors.
“It challenges the notion of ‘one designation for one profession,’” said IMCA CEO and executive director Sean Walters. “It also shows that, increasingly, wealth management teams are adding CIMA-certified members. Aite Group, which conducted the research, looked at teams with CIMA versus those with only CFPs. The former scored very well.”
In particular, the CIMA certification “teaches advisors how to evaluate investment managers, which aids in attracting high-net-worth clients because they have a better understanding of alternative investments and other tools suited to them.”