Top 11 Investment Consultant Certifications

Certifications are important for investment consultants in the job market because they demonstrate to employers that a consultant has the knowledge and skills necessary to provide quality advice and services. They also show potential clients that the consultant is qualified and trustworthy. Certification provides assurance to employers, clients, and regulatory bodies that an individual has met certain standards of excellence in their field. Certifications can help consultants stand out from other applicants and can also be used as a marketing tool to attract new clients. Finally, certifications may be required by certain employers or may provide access to higher levels of pay or greater opportunities for advancement.

The article reviews some of the top certifications for Investment Consultants and explains how they can contribute to an Investment Consultant's career.

What are Investment Consultant Certifications?

Investment consultant certification is a professional credential that demonstrates an individual's expertise in the field of investment consulting. It is typically awarded by a third-party organization, such as the Certified Financial Planner (CFP) Board of Standards or the Chartered Financial Analyst (CFA) Institute. The certification process requires applicants to demonstrate their knowledge and understanding of the principles and practices of investment consulting, including financial analysis, portfolio management, asset allocation, and risk management.

Having an investment consultant certification can be beneficial for both individuals and organizations. It provides evidence that the individual has achieved a high level of proficiency in the field and possesses the necessary skills to provide sound advice and guidance to clients. For organizations, having staff with certified credentials can help build credibility with potential clients and increase trust in their services. Additionally, it may also open up new opportunities for business growth through referrals from other professionals who have been impressed by their certified consultants’ expertise. Finally, having certified personnel can also create a competitive advantage over other firms that may not have such credentials on their staff.

Pro Tip: When researching investment consultant certifications, look for programs that are accredited by the Financial Industry Regulatory Authority (FINRA) or another recognized regulatory body. This ensures that the certification is up-to-date with current industry standards and best practices. Additionally, make sure to check the program's curriculum and instructor credentials to ensure you are receiving comprehensive training on the topics needed to be a successful investment consultant.

Related: What does an Investment Consultant do?

Top 11 Investment Consultant Certifications

Here’s our list of the best certifications available to Investment Consultants 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. The CFA program is a globally recognized, graduate-level curriculum that covers topics such as financial analysis, portfolio management, and investment management. It is designed to provide a comprehensive understanding of the principles of finance and investments.

The CFA program consists of three levels of examinations which must be completed in order to obtain the designation. The exams are offered twice a year in June and December. Each level typically takes about six months to complete, so it typically takes between two and three years to complete all three levels of the program.

In order to become a CFA charterholder, you must meet certain requirements including: having at least four years of professional work experience in an investment-related field; passing all three levels of the CFA exam; becoming an active member of the CFA Institute; and agreeing to abide by its Code of Ethics and Standards of Professional Conduct.

The cost for taking the CFA exams varies depending on when you register for them. Registration fees range from $650-$1,000 per level depending on when you register for each exam. Additionally, there may be additional costs associated with study materials or courses that you might take in preparation for the exams.

2. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation given by the Certified Financial Planner Board of Standards, Inc. (CFP Board). The CFP certification is a voluntary certification for financial planners who have met certain educational and ethical requirements. It is the most widely recognized and respected financial planning designation in the world.

To become certified, individuals must complete an approved course of study, pass a comprehensive exam, meet experience requirements and agree to adhere to CFP Board’s Code of Ethics and Professional Responsibility.

It typically takes three years to complete the education and experience requirements necessary to become certified. This includes completing college-level coursework in financial planning topics such as investments, insurance, taxes, retirement planning and estate planning; passing the CFP Certification Examination; accumulating at least three years of full-time financial planning experience; and agreeing to comply with CFP Board’s Code of Ethics and Professional Responsibility.

The cost for taking the CFP Exam varies depending on which testing window you choose. Typically it costs around $695 for each window. Additionally, there are fees associated with joining the CFP Board ($325) as well as annual renewal fees ($175).

3. Certified Investment Management Analyst (CIMA)

Certified Investment Management Analyst (CIMA) is a professional designation awarded by the Investments & Wealth Institute. It is designed to recognize professionals who have completed an approved program of study and demonstrated their knowledge and expertise in the field of investment management.

The CIMA certification program is offered through a partnership between the Investments & Wealth Institute, Wharton Executive Education, and Morningstar Investment Management. The program consists of three courses: Foundations of Investment Management, Advanced Investment Management, and Global Asset Allocation. Each course requires approximately 40 hours of study time and may be completed online or in-person at one of several locations around the world.

To obtain the CIMA certification, applicants must complete all three courses within two years, pass a comprehensive exam with a score of 70% or higher, and meet other requirements such as having three years’ experience in investment management or related fields.

The cost to obtain the CIMA certification varies depending on whether you take the courses online or in person. The total cost for taking all three courses online is $5,995 while taking them in person will cost $7,495. Additionally, there is an exam fee of $395 that must be paid when registering for the exam.

4. Chartered Investment Counselor (CIC)

Chartered Investment Counselor (CIC) is a professional designation awarded by the Canadian Securities Institute (CSI). It is a credential that recognizes expertise in investment counseling and portfolio management. The CIC designation requires candidates to have a minimum of three years of experience in the securities industry, as well as demonstrate knowledge and understanding of investment products and strategies.

It typically takes up to two years to complete all the requirements for the CIC designation. Candidates must complete an approved program of study, pass four exams, and complete a professional practice examination.

The cost of obtaining the CIC designation varies depending on which course provider you choose to use. Generally, course providers charge between $2,000-$3,500 for the full program. In addition to this cost, there are also fees associated with each exam that must be paid separately.

Overall, obtaining the CIC designation can be expensive but it is worth it for those who wish to demonstrate their expertise in investment counseling and portfolio management.

5. Chartered Alternative Investment Analyst (CAIA)

Chartered Alternative Investment Analyst (CAIA) is a professional designation for individuals who specialize in alternative investments. It is the only globally recognized credential that focuses solely on alternative investments and is seen as the gold standard for professionals in this field.

The CAIA program consists of two levels, each requiring successful completion of an exam. Level I covers core concepts related to alternative investments, while Level II focuses on more advanced topics such as portfolio management and risk analysis.

It typically takes between 6-12 months to complete the CAIA program, depending on the individual's background knowledge and study habits. To get started, candidates must register with the CAIA Association and pay a $750 registration fee plus any applicable taxes. They must then purchase study materials from the CAIA Association or an approved third-party provider, which can range from $500-$2,000 depending on the materials chosen.

Once registered and prepared, candidates must take and pass both Level I and Level II exams within three years of registering with the CAIA Association. The cost of each exam is $1,000 plus any applicable taxes. Upon successful completion of both exams, candidates are awarded their Chartered Alternative Investment Analyst (CAIA) designation and become members of the CAIA Association.

6. Chartered Wealth Manager (CWM)

Chartered Wealth Manager (CWM) is a professional certification designed to recognize individuals who have achieved a high level of competency in the field of wealth management. The CWM designation is awarded by the Chartered Institute for Securities & Investment (CISI), an international professional body that sets standards for financial services professionals around the world.

To become a CWM, you must meet certain educational and experience requirements. You must hold at least a bachelor’s degree or equivalent in any discipline and have at least three years’ experience in providing financial advice to clients or managing their investments. You must also pass the CISI’s Chartered Wealth Manager examination, which covers topics such as investment principles and practices, taxation, retirement planning, estate planning, risk management and financial planning.

The exam takes approximately four hours to complete and consists of multiple-choice questions. It costs £295 to take the exam, plus an additional fee if you require special accommodations or need to resit the exam.

Once you have passed the exam, you will be awarded the Chartered Wealth Manager designation and can use it to demonstrate your expertise in wealth management.

7. Certified Private Wealth Advisor (CPWA)

Certified Private Wealth Advisor (CPWA) is a professional certification program offered by the Investment Management Consultants Association (IMCA). It is designed to help financial advisors better serve their high-net-worth clients and provide them with the best advice possible. The CPWA credential requires that advisors demonstrate a mastery of wealth management topics, including estate planning, tax strategies, investments, risk management, and philanthropy.

It takes approximately three months to complete the CPWA program. To become certified, applicants must pass an exam that covers all of the topics mentioned above. The exam consists of 150 multiple-choice questions and must be completed within two hours.

The cost of becoming a Certified Private Wealth Advisor varies depending on where you take the test and whether or not you are a member of IMCA. Generally speaking, it costs around $1,000 to take the exam. Additionally, there may be additional fees for study materials or other resources needed to prepare for the exam.

8. Accredited Investment Fiduciary (AIF)

Accredited Investment Fiduciary (AIF) is a professional designation given to individuals who have demonstrated the knowledge, skills and abilities necessary to act as a fiduciary for their clients. A fiduciary is someone who has been entrusted with managing the assets of another person or entity, such as a trust or retirement plan. The AIF designation signifies that the individual has met certain standards of excellence in providing investment advice and services to clients.

The AIF designation is offered by the Center for Fiduciary Studies (CFS), which is part of the University of Pittsburgh’s Institute for Certified Financial Planners (ICFP). To become an AIF, an individual must pass an exam administered by CFS that tests their knowledge and understanding of investment-related topics such as asset allocation, portfolio management, risk management, taxation, and retirement planning. The exam consists of 150 multiple-choice questions and takes approximately four hours to complete.

In order to be eligible for the AIF designation, applicants must have at least three years of full-time experience in the financial services industry or have completed a CFP Board-approved program in financial planning. Applicants must also submit an application fee ($395) and provide proof of errors & omissions insurance coverage.

Once all requirements are met and the exam is passed, applicants will receive their AIF designation within two weeks after passing the exam. There are no annual dues associated with maintaining this certification; however, CFS requires that AIF designees complete 30 hours of continuing education every three years in order to maintain their designation.

9. 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 help financial professionals understand and manage risk in their organizations. The FRM designation is recognized as one of the most prestigious certifications in the field of finance.

The FRM exam consists of two parts: Part I and Part II. Both parts are four hours long and include multiple-choice questions, essay questions, and case studies. To earn the designation, candidates must pass both parts within a two-year period.

To get the FRM certification, you must first register with GARP and pay an application fee. After registering, you will be able to access study materials and practice exams that can help you prepare for the exam. You may also choose to take a prep course or attend a review seminar to improve your chances of passing the exam.

The cost of getting the FRM certification varies depending on how you choose to prepare for it. The cost of registering with GARP is $450 for members and $550 for non-members. Prep courses and review seminars can range from several hundred dollars up to thousands of dollars depending on which provider you choose.

10. Registered Investment Adviser (RIA)

A Registered Investment Adviser (RIA) is a professional who provides financial advice and services to clients. RIAs are registered with the Securities and Exchange Commission (SEC) or their state securities regulator. They are held to a fiduciary standard, which means they must always act in their clients’ best interests.

To become an RIA, you must first meet certain qualifications such as having a bachelor’s degree in finance or economics, passing the Series 65 exam, and obtaining a surety bond of at least $10,000. Once these qualifications have been met, you will need to register with the SEC or your state securities regulator by filing Form ADV Part 1A. This process can take anywhere from several weeks to several months depending on the complexity of your application and the backlog of applications at the SEC or state regulator.

The cost of becoming an RIA varies depending on your specific situation but typically includes fees for filing Form ADV Part 1A, taking the Series 65 exam, obtaining a surety bond, and any other costs associated with setting up your business.

11. Certified International Wealth Manager (CIWM).

Certified International Wealth Manager (CIWM) is a professional certification program designed to equip financial advisors with the knowledge and skills necessary to provide comprehensive wealth management services to their clients. The CIWM program is offered by the Institute of Certified Financial Planners (ICFP). It is a three-level certification program that requires candidates to complete a series of courses, examinations, and practical experience.

The first level of the CIWM program is the Foundation Course, which covers topics such as financial planning, investment management, estate planning, tax planning, risk management, and international wealth management. After completing this course, candidates must pass an examination in order to move on to the second level of the program.

The second level of the CIWM program is called Advanced Wealth Management. This course covers advanced topics such as portfolio construction and asset allocation strategies, retirement planning strategies, global investments and international tax considerations. After completing this course and passing an examination, candidates can move on to the third and final level of the program: Professional Wealth Management. This course focuses on more complex topics such as alternative investments, private banking services, trust administration services and family office services.

To become a Certified International Wealth Manager (CIWM), it typically takes between 18 months and 2 years depending on how quickly you are able to complete all of the required courses and examinations. In order to get certified you must first register for the ICFP’s Certified International Wealth Manager Program online or through their office in New York City. Once registered you will be provided with access to all of the necessary materials including study guides and practice exams.

The cost for becoming a Certified International Wealth Manager varies depending on whether or not you choose to take advantage of any discounts or special offers that may be available at any given time. However, typically it costs around $1,500 USD for all three levels of certification plus any applicable taxes or fees associated with registering for the program.

Do You Really Need a Investment Consultant Certificate?

When it comes to investing and making financial decisions, having an investment consultant certificate can provide a great deal of assurance that the decisions being made are sound and in line with your individual goals. However, whether or not you need an investment consultant certificate depends on a variety of factors.

First, if you are looking to invest professionally or as part of a larger portfolio, then it is likely that having an investment consultant certificate would be beneficial. This type of certification demonstrates that you have the knowledge and understanding necessary to make informed decisions about investments and financial strategies. Additionally, many organizations require their advisors to have the proper certifications before they will consider them for employment. Therefore, if this is something you plan on pursuing then it may be worth obtaining the certification.

Second, if you are simply looking to make personal investments then having an investment consultant certificate may not be necessary. In this case, it would be more important to understand your own risk tolerance and financial goals before making any decisions. You should also do your own research into different types of investments so that you can decide which ones are right for your particular situation. In addition to this, seeking advice from a trusted advisor or financial professional can help ensure that you make good choices when investing your money.

Overall, whether or not you need an investment consultant certificate depends on the specific circumstances surrounding your desired investment activities. If you plan on investing professionally or as part of a larger portfolio then obtaining the certification may be beneficial in order to demonstrate expertise and credibility in the field. However, if you are simply looking to make personal investments then doing your own research and seeking advice from trusted professionals may suffice without needing the certification itself.

Related: Investment Consultant Resume Examples

FAQs About Investment Consultant Certifications

1. What are the requirements for Investment Consultant Certification?

Answer: The requirements vary depending on the certification, however, most require a bachelor’s degree in finance, economics, or a related field, plus several years of professional experience in investments.

2. How much does it cost to obtain an Investment Consultant Certification?

Answer: The cost varies depending on the certification and provider, but can range from a few hundred dollars to several thousand.

3. How long does it take to complete an Investment Consultant Certification?

Answer: Again, this depends on the certification and provider, but typically ranges from 6 months to 2 years.

4. What is covered in an Investment Consultant Certification program?

Answer: Topics typically include investment analysis and portfolio management, financial markets and instruments, investment strategies and regulations, risk management and compliance.

5. Is there a job market for Investment Consultants?

Answer: Yes, there is high demand for qualified professionals who have earned their Investment Consultant Certification as they are often seen as experts in the field with specialized knowledge and skills.