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Life Health > Running Your Business > Certification

IMCA Launches Online Behavioral Finance Program

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The Investment Management Consultants Association announced on Monday that it is introducing a new online behavioral finance program. The program is designed to help advisors address common financial decisions that trip up investors, and will be delivered by noted behavioral finance experts like Dan Ariely and Meir Statman.

Andrew Lo, director of MIT’s Laboratory for Financial Engineering, who was recently named as faculty advisor to another online education program for IMCA through the MIT Sloan School of Management, will also be involved.

The decision to include behavioral finance education was based in part on recent job task analyses for the certified investment management analyst (CIMA) and certified private wealth advisor (CPWA) designations that required IMCA to expand that type of content in its certification programs, according to a press release.

Furthermore, IMCA noted that its members are asking for that kind of education. Eighty-five percent of members surveyed this year said they would be at least somewhat interested in learning about behavioral finance at an advanced level.

“Today’s advisors must possess expert behavioral finance savvy to competently guide their clients’ investing decisions and build durable portfolios,”  Sean Walters, IMCA’s executive director and CEO, said in a statement. “IMCA has built a premier reputation for our live education offerings, but we feel that high-quality education can be delivered in a variety of media.”

The new program will be conducted online and includes between 15 and 20 hours of education in the form of slides or video, speaker notes or readings, and quizzes. It’s expected to launch this summer.

IMCA announced in February that it will offer an online education program through the MIT Sloan School of Management leading to its CIMA certification beginning June 1. Advisors working toward the CIMA certification must complete 40 hours of online work, and complete section quizzes and an exam within a 60-day window.

— Read IMCA to Offer Online Courses With MIT Sloan for CIMA Certification on


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