Top 10 Managing Partner Certifications

Certifications are important for a managing partner in the job market because they demonstrate that the individual has a validated level of knowledge and skill in their field. They also give potential employers confidence that the individual is capable of performing the duties required of them. Certifications can also help to differentiate a candidate from other applicants and show that they have a commitment to professional development. Furthermore, certifications may provide access to higher-level positions or salary increases within an organization. Finally, certifications can provide networking opportunities as well as access to industry events, conferences, and webinars.

This article reviews some of the top certifications for Managing Partners and explains how they can help to advance their career in the field.

What are Managing Partner Certifications?

Managing Partner Certification is a professional certification intended to recognize the knowledge, skills and abilities of individuals in the practice management field. It is designed to demonstrate that individuals have a comprehensive understanding of the principles, practices, and trends associated with managing a successful law firm. The certification is offered by the American Bar Association’s Law Practice Management Section and is awarded after an individual has passed an exam covering topics such as financial management, marketing and client development, technology, personnel management and ethics.

The Managing Partner Certification can help law firms become more successful by ensuring that their managing partners are knowledgeable about current trends in law practice management. By having certified professionals at the helm, law firms can be better positioned to respond quickly to changes in the legal market and ensure their clients receive quality service. Certification also helps increase confidence among potential clients who may be looking for a reliable partner to manage their legal matters. Additionally, certified managing partners may be able to command higher salaries due to their specialized expertise in the area of law practice management.

Pro Tip: Establish a partner certification policy that includes clear guidelines and expectations for program participation, including periodic reviews to ensure partners are meeting the necessary requirements. Also, leverage automation tools to streamline the process of tracking certification status and managing renewals.

Related: What does a Managing Partner do?

Top 10 Managing Partner Certifications

Here’s our list of the best certifications available to Managing Partners today.

1. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification offered by the Institute of Management Accountants (IMA). It is designed to recognize professionals who have demonstrated expertise in financial planning, analysis, control, decision support, and professional ethics.

The CMA certification program consists of two parts: Part 1 covers Financial Reporting, Planning, Performance and Control; and Part 2 covers Financial Decision Making. To become certified, candidates must pass both parts of the exam within a three-year period.

To get the CMA certification, you need to meet certain eligibility requirements such as having a bachelor’s degree from an accredited college or university or equivalent work experience. You also need to have at least two years of management accounting or financial management experience. Once you meet these requirements, you can register for the exam with IMA and pay the registration fee.

The cost of taking the CMA exam varies depending on your country of residence but typically ranges from $415-$495 for each part. The total cost for taking both parts of the exam will be around $830-$990 plus any applicable taxes or fees. Additionally, there are costs associated with study materials and resources which can range from $50-$500 depending on what type of materials you choose to use.

2. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to individuals who have met the educational, experience, and examination requirements of their state's Board of Accountancy. CPAs are licensed by their state boards to provide a variety of accounting services, including auditing, tax preparation, financial statement preparation, and consulting.

It typically takes between two and four years to become a CPA. The exact length of time depends on each individual’s educational background and the requirements set forth by their state board. Generally speaking, most aspiring CPAs must complete 150 hours of college coursework in accounting-related subjects and pass the Uniform CPA Exam before they can be licensed.

To become a CPA, you must meet the education requirements set forth by your state board. This usually involves completing at least 150 hours of college coursework in accounting-related subjects such as taxation, auditing, financial reporting and management accounting. You must also pass the Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA).

The cost for becoming a CPA varies from state to state but generally includes application fees for both your license and exam registration; study materials for the exam; exam fees; continuing education courses; annual license renewal fees; and other miscellaneous costs such as travel expenses or membership dues. In total, it can cost anywhere between $500-$2,000 to become a CPA depending on where you live and how much studying you need to do in order to pass the exam.

3. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation awarded by the Certified Financial Planner Board of Standards, Inc. It is a certification that demonstrates an individual's competence in providing financial planning services to individuals and businesses. The CFP certification requires passing a comprehensive exam, completing educational requirements, and meeting ethical standards.

The CFP certification process typically takes between one and two years to complete. During this time, individuals must complete at least three college-level courses in financial planning topics such as investments, taxes, retirement planning, estate planning, insurance, and risk management. In addition to these courses, individuals must also complete a capstone course that focuses on applying knowledge from the other courses to real-world scenarios. After completing the educational requirements, individuals must pass the CFP Certification Examination administered by the Certified Financial Planner Board of Standards.

The cost of obtaining CFP certification varies depending on the individual’s circumstances and how they choose to pursue their studies. Generally speaking, tuition for the required courses can range from $2,000 - $5,000 depending on where you take them. In addition to tuition costs there are also fees associated with taking the CFP Certification Examination which range from $595 - $795 depending on when you register for it.

Overall obtaining your CFP certification can be expensive but it is worth it in terms of increased job opportunities and higher earning potential in the field of financial planning.

4. 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 designed to give financial professionals the knowledge and skills needed to make sound investment decisions. It is considered one of the most prestigious credentials in finance and investments.

The CFA Program consists of three levels of examinations, each with its own curriculum and requirements. To become a CFA charterholder, candidates must pass all three levels of examinations within a six-year period. Candidates must also have at least four years of qualified work experience in the investment decision-making process and adhere to the CFA Institute’s Code of Ethics and Standards of Professional Conduct.

To get started on the path to becoming a CFA charterholder, candidates must first register with the CFA Institute and pay an enrollment fee. After registration, they can purchase study materials from the institute or from third-party providers such as Kaplan Schweser or Wiley CPAexcel.

The cost for taking all three exams varies depending on when you register for them. Generally speaking, it costs around $2,000-$3,000 for all three levels if taken consecutively over two years or $4,000-$5,000 if taken over six years. In addition to exam fees, candidates should factor in additional costs such as study materials and review courses which can range from several hundred dollars up to several thousand dollars depending on what you choose to purchase.

5. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the American Institute of Certified Public Accountants (AICPA). It is the highest level of certification available for management accountants. The CGMA designation recognizes individuals who have demonstrated mastery in the field of management accounting, including financial planning, analysis, decision-support, and professional ethics.

To become a CGMA, you must meet certain eligibility requirements. These include having a bachelor’s degree from an accredited college or university and at least two years of relevant work experience. You must also pass the CGMA Exam, which consists of four sections: Financial Reporting and Analysis; Managerial Finance; Strategic Management Accounting; and Professional Ethics.

The exam takes approximately three hours to complete and costs $350 USD. After passing the exam, you will be eligible to receive your CGMA designation. Once you have received your designation, you will be able to use the CGMA logo on your business cards and other materials to demonstrate your expertise in management accounting. Additionally, you will be able to access exclusive resources such as webinars and online courses that can help you stay up-to-date on industry trends and best practices.

6. Certified in Risk Management Assurance (CRMA)

Certified in Risk Management Assurance (CRMA) is a professional certification offered by the Institute of Internal Auditors (IIA). The CRMA is designed to provide assurance professionals with the knowledge, skills and competencies needed to identify and assess risk, develop and implement effective internal control systems, ensure compliance with laws and regulations, identify fraud risk, and effectively manage enterprise-wide risks.

The CRMA program consists of two parts: a self-study course and an exam. The self-study course takes approximately 80 hours to complete. The exam is administered by the IIA in various locations around the world on a regular basis. To become certified, individuals must pass the exam with a score of 70% or higher.

The cost for the CRMA program varies depending on your location. Generally speaking, it will cost between $1,000 - $2,000 USD for both the self-study course and exam fee combined.

7. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is an internationally recognized professional certification for internal auditors. The CIA designation is granted by the Institute of Internal Auditors (IIA), a global organization dedicated to promoting and developing the internal audit profession. The CIA certification demonstrates that an individual has achieved the highest level of proficiency in internal auditing and assurance services.

The CIA certification program consists of three parts: Part 1 – Essentials of Internal Auditing; Part 2 – Practice of Internal Auditing; and Part 3 – Business Analysis and Information Technology. Each part must be completed within five years, but the entire program can be completed in as little as two years if all three parts are taken concurrently.

To become certified, individuals must meet certain eligibility requirements, including passing a background check and having at least two years of professional experience in internal auditing or related fields. Candidates must also pass all three parts of the CIA exam with a minimum score of 70%.

The cost to take each part of the exam varies depending on where you take it, but typically ranges from $350-$400 USD per part. Additionally, there is an annual membership fee to maintain your certification which is currently set at $150 USD per year.

8. Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE) is a professional certification offered by the Association of Certified Fraud Examiners (ACFE). CFEs are trained to detect, investigate, and prevent fraud in organizations. The CFE credential is recognized as the highest standard for anti-fraud professionals around the world.

To become a CFE, individuals must pass an exam that covers four areas: financial transactions and fraud schemes; law; investigation; and fraud prevention and deterrence. The exam consists of 200 multiple-choice questions and takes approximately four hours to complete.

In order to be eligible to take the CFE Exam, individuals must have at least two years of professional experience in one or more of the following fields: accounting, auditing, criminal justice, law enforcement, information systems/technology, or anti-fraud related experience.

The cost for taking the CFE Exam is $400 for ACFE members and $450 for non-members. Additionally, there are study materials such as books and practice tests available from the ACFE which can help prepare individuals for the exam.

9. Chartered Investment Manager (CIMA)

Chartered Investment Manager (CIMA) is a professional designation awarded by the Chartered Alternative Investment Analyst Association (CAIA). It is designed to provide professionals with the knowledge and skills necessary to manage alternative investments. The CIMA designation is recognized globally as a mark of excellence in alternative investment management.

To become a Chartered Investment Manager, an individual must pass two exams administered by CAIA: the Level I and Level II exams. The Level I exam covers basic concepts in alternative investments, while the Level II exam focuses on more advanced topics such as portfolio construction, risk management, and performance measurement. Both exams are offered twice a year in April and October.

The cost for taking each exam varies depending on whether you are a member or non-member of CAIA. For members, the cost is $495 per exam while non-members pay $795 per exam. In addition to the exam fee, there is also an application fee of $100 for both members and non-members.

Once an individual has successfully passed both exams, they will receive their CIMA designation from CAIA and be eligible to use it on resumes and business cards. The entire process typically takes about 6 months from start to finish.

10. Certified Business Valuation Specialist (CBVS).

Certified Business Valuation Specialist (CBVS) is a professional certification program designed to recognize individuals who have demonstrated knowledge and expertise in business valuation. The CBVS designation is awarded by the American Society of Appraisers (ASA), a professional organization dedicated to providing education, training, and certification in the field of business valuation.

The CBVS program requires applicants to complete an online application, pass an examination, and meet certain educational requirements. In order to be eligible for the CBVS program, applicants must hold a bachelor’s degree or higher from an accredited college or university and have at least two years of experience in business valuation. Applicants must also demonstrate knowledge of accounting principles, financial statement analysis, and business valuation theory and practice.

The CBVS exam consists of 150 multiple-choice questions that cover topics such as accounting principles, financial statement analysis, market research methods, legal considerations for valuations, and other related topics. The exam takes approximately four hours to complete.

In order to maintain their CBVS designation, individuals must complete continuing education courses every three years. These courses are offered through the ASA website or through approved providers.

The cost of obtaining the CBVS designation varies depending on the applicant’s level of experience and educational background. Generally speaking, it can cost anywhere from $1,000-$3,000 USD to obtain the designation.

Do You Really Need a Managing Partner Certificate?

No, you do not necessarily need a Managing Partner Certificate to be successful in business. A Managing Partner Certificate is an additional credential that demonstrates knowledge of business management skills, but it is not necessary for success in the field. Many successful entrepreneurs and business leaders have been highly successful without obtaining this type of certification.

However, if you are looking to enter the field of management or increase your qualifications as a current manager, then obtaining a Managing Partner Certificate may benefit you. This certificate can provide you with more knowledge and understanding of important topics such as financial management, human resources management, marketing and sales strategies, business law and ethics, operations management, organizational behavior and leadership. Having these skills can give you an edge when competing for managerial positions or applying for promotions. Additionally, having this certification on your resume may help boost your chances of landing higher-level positions in the future.

In conclusion, while having a Managing Partner Certificate is not absolutely necessary to succeed in business or to become a successful manager, it can certainly provide you with an added advantage when competing for certain roles within the industry. It also provides valuable insight into key areas of business that are essential for good decision-making and long-term success in any organization.

Related: Managing Partner Resume Examples

FAQs About Managing Partner Certifications

Q1. How do I become a managing partner certified?

A1. To become a managing partner certified you need to complete the Managing Partner Certification Program offered by Google. This program provides training in the areas of sales, marketing, customer service, product management, and more.

Q2. What are the requirements for certification?

A2. To be eligible for certification you must have at least two years of experience in sales or marketing and pass an exam administered by Google. You will also need to demonstrate that you understand how to use Google’s products and services to help customers succeed.

Q3. How long does it take to get certified?

A3. The process typically takes 2-3 weeks depending on your availability and the complexity of your application materials.

Q4. What is the cost of certification?

A4. The cost of certification depends on which package you choose; packages range from $500-$3000 USD depending on the scope of training and support included in each package.

Q5. How often do I need to renew my certification?

A5. Your Managing Partner Certification must be renewed every 12 months in order for it to remain valid and active; this can be done through completing continuing education courses or attending relevant conferences or seminars related to managing partnerships with Google products and services