Top 11 Asset Manager Certifications

Certifications are important for asset managers in the job market because they demonstrate a level of knowledge and expertise that employers look for when hiring. Certifications show potential employers that an individual has taken the time to study and understand the complexities of asset management and is qualified to manage assets in a professional setting. Additionally, certifications can provide access to a variety of resources, such as continuing education courses and networking opportunities, which can be beneficial for career advancement. By obtaining certifications, asset managers can also show their commitment to the profession and demonstrate their dedication to staying up-to-date on industry trends.

This article reviews some of the top certifications for Asset Managers and explains how they can contribute to an asset manager's career growth and success.

What are Asset Manager Certifications?

Asset manager certification is a type of professional certification that demonstrates an individual’s knowledge and experience in the management of assets. This certification is designed to ensure that asset managers have the necessary skills and qualifications to effectively manage investments, portfolios, and other financial assets. Certification can be obtained from professional organizations such as the Chartered Financial Analyst Institute or the Association for Investment Management and Research.

Asset manager certification can help individuals in many ways. For one, it can provide a competitive advantage when seeking employment in the finance industry. It also serves as an indication of professionalism and expertise to employers, clients, and colleagues. Moreover, it provides a way for asset managers to stay up-to-date on best practices and new developments in their field. Finally, certified asset managers may be eligible for certain privileges such as access to exclusive conferences or discounts on continuing education courses.

Pro Tip: When considering asset manager certification, carefully research the different certifications available and find one that best suits your experience level and desired career goals. Make sure to review the requirements of each certification and determine which ones you can meet in order to ensure that you are properly prepared for the assessment. Additionally, take advantage of any available online resources or study materials to help you prepare for the exam.

Related: What does an Asset Manager do?

Top 11 Asset Manager Certifications

Here’s our list of the best certifications available to Asset Managers today.

1. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. It is a globally recognized credential that demonstrates a mastery of advanced investment analysis and portfolio management skills. The CFA Program covers topics such as ethical and professional standards, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments, portfolio management and wealth planning.

It typically takes four years to complete the CFA Program. Candidates must pass three levels of exams in order to obtain the designation. The first two levels are administered twice a year while the third level is administered once a year.

In order to become eligible for the program, candidates must have at least four years of professional work experience in an investment-related field or hold an undergraduate degree or equivalent qualification from an accredited university. Candidates must also be members of the CFA Institute and agree to abide by its Code of Ethics and Standards of Professional Conduct.

The cost for taking all three levels of exams varies depending on when you register for them; however it typically ranges from $1,500 - $2,500 USD per level. In addition to this cost there are also annual membership fees that must be paid to maintain your status as a CFA Charterholder which range from $100 - $300 USD per year depending on your location and other factors.

2. Certified Investment Management Analyst (CIMA)

Certified Investment Management Analyst (CIMA) is a professional certification program offered by the Investments and Wealth Institute, formerly known as the Investment Management Consultants Association (IMCA). The CIMA certification is designed to provide financial advisors with the knowledge and skills necessary to effectively manage investments for their clients.

The CIMA program consists of three components: an online self-study course, a comprehensive exam, and experience requirements. The online self-study course covers topics such as portfolio management, investment strategies, asset allocation, risk management, and compliance. The comprehensive exam tests an individual's knowledge of these concepts.

The program typically takes around six months to complete, depending on how quickly you can complete the online self-study course and pass the comprehensive exam. To become certified as a CIMA professional, you must have at least three years of full-time experience in investment management or related activities.

The cost of the CIMA program varies depending on whether you are a member of IMCA or not. For non-members, the cost is $1,995 for the online self-study course and $495 for the comprehensive exam. For members of IMCA, the cost is $1,695 for the online self-study course and $395 for the comprehensive exam.

3. Chartered Alternative Investment Analyst (CAIA)

Chartered Alternative Investment Analyst (CAIA) is a professional designation offered by the CAIA Association. It is designed to provide professionals with a comprehensive understanding of alternative investments, such as hedge funds, private equity, real estate, commodities, and structured products. The CAIA designation is widely recognized in the financial industry and is a valuable asset for those looking to advance their career in alternative investments.

The CAIA program consists of two levels: Level I and Level II. To obtain the CAIA designation, candidates must pass both levels of the exam. Level I covers core concepts related to alternative investments and requires approximately 200 hours of study time. Level II focuses on portfolio management and advanced topics related to alternative investments and requires approximately 100 hours of study time.

Candidates can prepare for the exams by taking classes or self-studying with materials provided by the CAIA Association or other third-party providers. In addition to passing both exams, candidates must also meet certain experience requirements before they can earn the CAIA designation.

The cost of obtaining the CAIA designation varies depending on whether you are a member of the CAIA Association or not. For non-members, there is an initial enrollment fee plus fees for each exam level taken ($1,500 for Level I and $1,000 for Level II). For members of the association, there is an initial enrollment fee plus discounted fees for each exam level ($1,250 for Level I and $750 for Level II).

4. Certified Fund Specialist (CFS)

Certified Fund Specialist (CFS) is a professional designation awarded by the Institute of Business and Finance (IBF). It is designed to help financial professionals gain an understanding of mutual funds, exchange-traded funds, and other investment vehicles. The CFS designation provides a comprehensive overview of the fundamentals of investing in these products, as well as more advanced topics such as portfolio management, asset allocation, and retirement planning.

It typically takes between six months and one year to complete the requirements for the CFS designation. This includes completing at least three courses offered by IBF, passing an exam administered by IBF, and submitting a completed application form. The cost for obtaining the CFS designation varies depending on how many courses you take and how quickly you complete them. Generally speaking, it costs around $1,500 to $2,000 to obtain the CFS designation.

5. Chartered Wealth Manager (CWM)

Chartered Wealth Manager (CWM) is a professional designation for financial advisors who have attained a higher level of education and experience in the field of wealth management. The CWM designation is awarded by the Chartered Institute for Securities & Investment (CISI).

To obtain the CWM designation, candidates must first pass the CISI Level 4 Diploma in Wealth Management. This diploma requires successful completion of seven exams, which cover topics such as investment principles, taxation, estate planning, risk management and retirement planning. The diploma can be completed in 12-18 months depending on how much time an individual has to dedicate to studying.

Once the diploma is completed, candidates must then complete three years of relevant work experience in wealth management before they can apply for the CWM designation. During this period, candidates must also complete three additional exams that focus on advanced topics in wealth management.

The cost to obtain the CWM designation varies depending on where you are located and which institution you choose to study with. Generally speaking, however, it will cost around £2,500 to £3,000 for tuition fees plus any additional costs associated with taking the exams (e.g., exam fees).

In summary, obtaining a Chartered Wealth Manager (CWM) designation requires passing seven exams over a period of 12-18 months and then completing three years of relevant work experience in wealth management while also passing three additional exams. The total cost will vary but generally falls between £2,500 and £3,000.

6. Professional Risk Manager (PRM)

Professional Risk Manager (PRM) is a globally recognized certification program that provides risk management professionals with the knowledge and skills necessary to identify, assess, measure, manage, and control financial risks. The PRM certification is offered by the Professional Risk Managers’ International Association (PRMIA), which is an independent, non-profit organization dedicated to advancing the practice of risk management.

The PRM program consists of two levels: Level I and Level II. To become a certified PRM professional, one must pass both levels of exams. The Level I exam covers basic concepts in risk management such as financial markets, instruments and derivatives; quantitative methods; credit risk; market risk; operational risk; legal aspects of risk management; and enterprise risk management. The Level II exam focuses on advanced topics in these areas.

It typically takes between six months to one year to prepare for each level of the PRM exams. Preparation usually involves reading textbooks and other materials related to the topics covered in the exams, attending review classes or workshops, and taking practice tests.

To obtain the PRM certification, you must complete an online application form on the PRMIA website and pay a fee of $550 USD for each level of exam taken. After submitting your application form and fee payment, you will receive an email with instructions on how to register for your chosen exam date at a Prometric testing center near you. Once you have passed both levels of the exams, you will be awarded your PRM designation from PRMIA.

The cost for obtaining the Professional Risk Manager (PRM) certification is $550 USD per level of exam taken ($1,100 total).

7. Certified Private Wealth Advisor (CPWA)

Certified Private Wealth Advisor (CPWA) is a professional certification program offered by the Investments & Wealth Institute, which is the leading global organization for financial advisors who specialize in working with high-net-worth clients. It is designed to help financial advisors deepen their knowledge and skills in order to better serve the needs of affluent clients. The CPWA certification requires a minimum of three years of experience in private wealth management, as well as successful completion of a comprehensive exam.

The exam consists of two parts: an online portion that covers topics such as investment management, estate planning, risk management, and tax strategies; and a case study portion that requires applicants to analyze and develop solutions for complex client scenarios. The exam takes approximately four hours to complete and costs $1,500.

To be eligible for the CPWA certification, applicants must have at least three years of experience in private wealth management or related fields such as trust administration or investment consulting. Applicants must also demonstrate their commitment to continuing education by completing at least 40 hours of continuing education credits every two years.

Overall, obtaining the CPWA certification can take up to six months depending on how quickly you are able to complete the required coursework and pass the exam. Additionally, it can cost anywhere from $1,500-$2,000 depending on your chosen course provider and other associated fees.

8. Accredited Asset Management Specialist (AAMS)

Accredited Asset Management Specialist (AAMS) is a professional designation offered by the College for Financial Planning. It is designed to provide financial advisors with the knowledge and skills needed to successfully manage clients’ investments. The AAMS program covers topics such as investment analysis, portfolio management, retirement planning, tax planning, estate planning, and risk management.

The AAMS program consists of two courses: Foundations of Asset Management and Advanced Asset Management Strategies. The Foundations course provides an overview of asset management concepts and strategies while the Advanced course focuses on more complex topics such as portfolio construction, asset allocation, and portfolio performance measurement.

The AAMS program takes approximately six months to complete. To get started, you must first register for the program through the College for Financial Planning website. After registering, you will receive access to online study materials and be able to take practice exams. Once you have completed both courses and passed the final exam with a score of at least 70%, you will be awarded your AAMS certification.

The cost of the AAMS program varies depending on whether or not you choose to pay in full or in installments. If you choose to pay in full upfront, it costs $2,750; if you choose to pay in installments over three months it costs $3,000 total ($1,000 per month).

9. Certified Investment Management Consultant (CIMC)

Certified Investment Management Consultant (CIMC) is a professional certification awarded by the Investment Management Consultants Association (IMCA). It is designed to provide investment professionals with the knowledge and skills necessary to provide comprehensive financial advice and services to their clients. The CIMC certification program focuses on the areas of portfolio management, financial planning, asset allocation, risk management, and retirement planning.

The CIMC certification program consists of two parts: an online course and an exam. The online course covers topics such as investment principles, portfolio construction, asset allocation, retirement planning, and risk management. The exam is a three-hour multiple-choice test that must be taken at an IMCA-approved testing center.

To become certified as a CIMC, you must have at least three years of experience in the investment industry or a related field. You also must pass the exam with a score of 75 percent or higher.

The cost for the CIMC certification program varies depending on your location and whether you are taking the online course or attending in-person classes. Generally speaking, it can cost anywhere from $2,000-$4,000 for the entire program.

10. Chartered Retirement Plans Specialist (CRPS)

Chartered Retirement Plans Specialist (CRPS) is a professional designation offered by the College for Financial Planning. The CRPS program is designed to provide financial advisors with the knowledge and expertise needed to help their clients plan for retirement. It focuses on topics such as retirement planning, Social Security, investments, insurance, taxes, and estate planning.

It typically takes between six months and one year to complete the CRPS program. To get started, you must first become a Certified Financial Planner (CFP). After that, you can apply to take the Chartered Retirement Plans Specialist (CRPS) exam. This exam consists of two parts: a written component and an oral component. Once you have successfully passed both components of the exam, you will be awarded your CRPS designation.

The cost of the CRPS program varies depending on whether or not you have already obtained your CFP certification. If you have already obtained your CFP certification, then the cost of taking the CRPS exam is $795 USD plus any applicable taxes or fees. If you do not have your CFP certification yet, then there are additional costs associated with obtaining it before taking the CRPS exam.

11. Financial Risk Manager (FRM).

Financial Risk Manager (FRM) is a professional certification offered by the Global Association of Risk Professionals (GARP). It is designed to provide financial professionals with the knowledge and skills necessary to understand and manage financial risks. The FRM designation is highly respected in the finance industry, and it is often used as a measure of an individual's expertise in risk management.

The FRM exam consists of two parts: Part I and Part II. Both parts are offered twice a year, usually in May and November. To obtain the FRM certification, candidates must pass both exams within four years of each other.

To get started on your FRM journey, you'll need to register for the exam at GARP's website. You will then need to study for the exam using GARP's official study materials, which can be purchased through their website or from third-party vendors.

The cost of taking the FRM exam varies depending on when you register and how you purchase your study materials. Generally speaking, it costs around $1,000 USD for both parts of the exam if you register early and purchase GARP’s official study materials directly from them. If you wait until closer to the exam date or purchase third-party materials, it may cost more.

In addition to studying for the exam itself, candidates should also consider investing in some additional resources such as practice exams or tutoring services to help them prepare for success on test day.

Do You Really Need a Asset Manager Certificate?

An asset manager certificate can be a valuable addition to your professional qualifications and can help you stand out in the job market, but it is not essential for career success. Whether or not you need an asset manager certificate depends on your current job role, the industry you are working in, and where you want to take your career.

If you are already working as an asset manager, then obtaining a certificate could give you additional skills and knowledge that could increase your value as a professional. An asset manager certificate can also demonstrate to employers that you have the necessary expertise and training needed to manage assets effectively. Additionally, having an asset manager certificate may also open up opportunities for more advanced roles within the field of asset management.

On the other hand, if you are just starting out in the field of asset management or do not currently work as an asset manager, then obtaining an asset manager certificate is not necessarily essential. However, taking courses or earning a certification can help you learn more about the specifics of managing assets and gain valuable expertise that will benefit your career. It's important to consider what kind of experience and qualifications potential employers might be looking for when making this decision.

Ultimately, whether or not an asset manager certificate is necessary will depend on your individual circumstances and goals. If it makes sense for your career path and will help increase your value as a professional, then it may be worth considering taking classes or earning certification.

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FAQs About Asset Manager Certifications

1. What is an Asset Manager Certification?

Answer: An Asset Manager Certification is a professional designation that recognizes individuals who have demonstrated knowledge and proficiency in the field of asset management. It is typically awarded by an accredited educational institution or professional organization after completion of a course of study or examination.

2. How long does it take to earn an Asset Manager Certification?

Answer: The time required to earn an Asset Manager Certification can vary depending on the specific type of certification and the individual's level of prior experience and education. Generally, completing a certification program takes between six months and two years.

3. What are the benefits of obtaining an Asset Manager Certification?

Answer: Benefits of obtaining an Asset Manager Certification include increased job opportunities, higher pay, improved credibility, increased networking opportunities, and better job security.

4. Are there any prerequisites for obtaining an Asset Manager Certification?

Answer: Prerequisites for obtaining an Asset Manager Certification may include having a degree in finance or accounting, passing certain examinations, or having several years of experience in the asset management field.

5. Is recertification required to maintain an Asset Manager Certification?

Answer: Yes, recertification is usually required to maintain an Asset Manager Certification. Recertification requirements typically involve completing continuing education credits or taking additional exams on a regular basis (usually every three years).