Top 10 Relationship Banker Certifications

Certifications are an important asset for a relationship banker in the job market. These certifications demonstrate to employers that the individual is knowledgeable and skilled in banking operations, regulations, and customer service. Additionally, they provide a competitive edge when it comes to being hired or promoted within the industry. Furthermore, certifications can help build credibility with customers and other financial professionals, as well as bolster a banker’s reputation among peers. Ultimately, certifications can be the difference between getting an interview or not, and even landing that dream job!

This article reviews some of the top certifications for Relationship Bankers and explains how they can benefit a relationship banker's career.

What are Relationship Banker Certifications?

Relationship banker certification is a specialized program designed to provide banking professionals with the knowledge and skills necessary to build strong relationships with customers. The certification helps bankers understand customer needs, develop effective strategies for building trust, and increase customer satisfaction. It also provides guidance on how to create meaningful connections and foster loyalty. By developing these skills, relationship bankers are better able to identify opportunities for cross-selling and referrals, as well as offer tailored solutions that meet the unique needs of their clients. Furthermore, this type of certification can help institutions boost customer retention rates, reduce operational costs associated with onboarding new customers, and ultimately improve the overall reputation of their banking services.

Pro Tip: Take advantage of online courses and certifications to help you stay up-to-date on the latest trends in relationship banking. Having a certification in this area can give you an edge when it comes to getting hired or advancing your career in the banking industry.

Related: What does a Relationship Banker do?

Top 10 Relationship Banker Certifications

Here’s our list of the best certifications available to Relationship Bankers today.

1. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional certification awarded by the Certified Financial Planner Board of Standards, Inc. It is a mark of excellence that demonstrates an individual’s knowledge and experience in the field of financial planning. CFPs are required to adhere to a strict code of ethics and standards of practice, as well as complete continuing education requirements on an ongoing basis.

To become a CFP, individuals must meet certain educational, experience and examination requirements. The educational requirement includes completing college-level courses in areas such as insurance, investments, tax planning, retirement planning and estate planning. In addition, individuals must have at least three years of full-time financial planning experience prior to applying for the certification.

The CFP examination consists of two three-hour sessions covering topics such as risk management, investments, taxes, retirement planning and estate planning. The exam is administered twice a year by Prometric Testing Centers throughout the United States.

The cost for taking the CFP exam varies from state to state but generally ranges from $695 - $795 plus applicable taxes. Additionally, there may be additional fees associated with obtaining study materials or enrolling in review courses offered by third-party providers.

Overall it typically takes between 6 months to 2 years to become a Certified Financial Planner depending on how quickly you complete all the necessary requirements and pass the exam.

2. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation awarded by the CFA Institute, a global association of investment professionals. The CFA Program is a graduate-level, self-study program that combines a broad base of investment analysis and portfolio management skills with real-world application. It takes an average of four years to complete the program, although some candidates may take longer or shorter depending on their individual circumstances.

The CFA Program consists of three levels: Level I, Level II, and Level III. Each level requires passing an exam and must be completed in order before progressing to the next level. To become a CFA charterholder, candidates must pass all three exams, have four years of qualifying work experience in the investment decision-making process, and adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.

The cost for the CFA Program varies depending on how you choose to study for it. The full cost includes enrollment fees for each level ($450 USD per level), exam registration fees ($950 USD per level), study materials (varies depending on which materials you choose to purchase), and other related costs such as travel expenses or review courses (varies).

Overall, becoming a CFA charterholder is an extensive process that requires dedication and commitment from those who pursue it. It can take several years to complete all three levels of the program and requires significant financial investment as well. However, many find that the rewards are worth it in terms of career advancement opportunities and increased earning potential.

3. Certified Investment Management Analyst (CIMA)

Certified Investment Management Analyst (CIMA) is a professional certification for financial advisors, investment counselors and portfolio managers. It is offered by the Investment Management Consultants Association (IMCA). The CIMA certification is designed to provide financial professionals with comprehensive training in the areas of investment management and portfolio construction.

The CIMA designation requires an individual to pass a three-part exam and complete an approved educational program. The exam covers topics such as asset allocation, portfolio construction, risk management, ethics, taxation, and financial planning. The educational program includes both online and in-person courses that cover all aspects of investment management.

It typically takes 1-2 years to complete the CIMA program depending on an individual’s prior experience and knowledge base. To be eligible for the CIMA program, individuals must have at least two years of relevant work experience or a college degree in finance or economics.

The cost of obtaining the CIMA certification varies depending on where you take your courses and which materials you purchase for study purposes. Generally speaking, it will cost between $3,000-$5,000 to become certified. This includes registration fees for exams and course materials.

4. Certified Private Wealth Advisor (CPWA)

Certified Private Wealth Advisor (CPWA) is a professional designation offered by the Investment Management Consultants Association (IMCA). It is designed to provide financial advisors with the knowledge and skills necessary to serve high-net-worth clients. The CPWA certification program focuses on topics such as wealth accumulation, estate planning, trust services, philanthropy, investment management, tax strategies, risk management and family dynamics.

It takes approximately 18 months to complete the CPWA certification process. Candidates must pass an exam that covers the core competencies of private wealth advising and complete a minimum of three years of related work experience. Additionally, candidates must fulfill continuing education requirements in order to maintain their certification.

The cost of obtaining the CPWA certification varies depending on the type of study materials used and whether or not a candidate chooses to enroll in an IMCA-approved training course. Generally speaking, candidates should expect to pay between $2,000 - $3,000 for all required materials and fees associated with obtaining the CPWA designation.

5. 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 help financial advisors and other financial professionals gain a better understanding of asset management, portfolio construction, and risk management. The AAMS program consists of four courses: Investment Principles & Strategies, Portfolio Construction & Management, Risk Management & Insurance Planning, and Retirement Planning & Employee Benefits. Each course is completed online in approximately 10-15 hours over the course of three weeks.

To become an AAMS, individuals must complete all four courses with a passing grade of 70% or higher. Upon successful completion of the program, individuals will receive their AAMS certificate from the College for Financial Planning.

The cost to obtain the AAMS designation varies depending on whether you are already enrolled in another College for Financial Planning program or not. If you are enrolled in another program, the cost to complete the AAMS program is $1,495; if you are not enrolled in another program, the cost is $2,295.

6. Chartered Wealth Manager (CWM)

Chartered Wealth Manager (CWM) is a professional designation offered by the American Academy of Financial Management (AAFM). The CWM designation recognizes individuals who have achieved a high level of knowledge and experience in the field of wealth management. It is designed to provide financial professionals with the skills and knowledge to help their clients achieve their financial goals.

To obtain the CWM designation, an individual must complete an approved course of study, pass a comprehensive examination, and fulfill continuing education requirements. The course of study typically includes topics such as investment analysis, portfolio management, estate planning, taxation, and retirement planning.

The length of time required to complete the CWM program varies depending on the individual's experience and commitment level. Generally speaking, it takes between one and two years to complete all requirements for the designation.

Individuals interested in obtaining the CWM designation can enroll in courses offered by AAFM or through other accredited institutions that offer programs that meet AAFM's criteria for certification.

The cost of obtaining the CWM designation varies depending on which institution offers the courses and whether you choose to take them online or in person. Generally speaking, tuition costs range from $2,000-$5,000 USD depending on what type of program you choose.

7. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification program offered by the Association for Financial Professionals (AFP). It is designed to recognize individuals who have achieved a high level of expertise in treasury management. The CTP designation is globally recognized and demonstrates that an individual has the knowledge and experience necessary to manage corporate treasury functions effectively.

It typically takes between 6-12 months to complete the CTP program, depending on how quickly you study and complete the requirements. To become certified, you must first pass a comprehensive exam that covers topics such as cash management, investments, risk management, and financial analysis. You must also have at least two years of relevant work experience in corporate treasury or related fields.

The cost of becoming certified varies depending on your membership status with AFP. If you are an existing AFP member, it will cost $750 to take the exam; if you are not a member, it will cost $1,000. Once you have passed the exam, there is an annual maintenance fee of $150 for members and $200 for non-members.

8. Certified Bank Auditor (CBA)

Certified Bank Auditor (CBA) is a professional designation awarded by the Institute of Certified Bank Auditors (ICBA). It is designed to recognize individuals who possess the knowledge and experience necessary to perform bank audits.

The CBA program consists of three levels: Level 1, Level 2 and Level 3. Each level requires passing an exam and completing specific coursework in order to earn the certification. The exams are administered by ICBA twice a year, typically in June and December.

In order to become certified, applicants must have at least two years of banking experience or equivalent education, pass the CBA exam, complete an ethics course, and pay the required fees. The cost for the exam is $450 for members of ICBA and $550 for non-members.

The entire process can take up to six months depending on when you apply and how quickly you complete all requirements. Once you’ve passed the exam and met all other requirements, you will receive your CBA certificate from ICBA.

9. Chartered Retirement Planning Counselor (CRPC)

Chartered Retirement Planning Counselor (CRPC) 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 help clients make informed decisions about their retirement plans. The CRPC program focuses on the topics of retirement planning, investment strategies, taxation, and estate planning.

It typically takes between 6-12 months to complete the CRPC program depending on how much time you are able to commit to studying. To become a CRPC, you must first complete a series of courses that cover topics such as retirement planning, investments, taxation, and estate planning. After completing these courses, you must pass an exam administered by the College for Financial Planning in order to receive your designation.

The cost of obtaining the CRPC designation varies depending on where you take the courses and which materials you purchase in order to study for the exam. Generally speaking, it will cost between $2,000-$4,000 USD in total fees including tuition and materials.

10. Certified International Wealth Manager (CIWM).

Certified International Wealth Manager (CIWM) is a professional certification program designed to recognize the knowledge and skills of experienced wealth managers. The program is offered by the Institute of Certified International Wealth Managers, a global association dedicated to promoting excellence in wealth management.

The CIWM program consists of three levels: CIWM Level I, CIWM Level II, and CIWM Level III. To earn the certification, candidates must pass an exam at each level. The exams are designed to assess a candidate’s knowledge and understanding of wealth management principles and practices.

It typically takes around two years to complete all three levels of the CIWM program. Candidates must pass each exam before moving on to the next level. The exams are administered online or in-person at designated testing centers around the world.

The cost of the CIWM program varies depending on where you take it and how quickly you want to complete it. Generally speaking, it costs around $1,500 USD for all three levels combined. However, some providers may offer discounts or other incentives that can reduce this cost significantly.

To get started with the CIWM program, you will need to find a provider that offers it in your area and register for an exam date. You will also need to prepare for the exams by studying relevant material such as books or online courses related to wealth management topics like financial planning, investment strategies, risk management, and estate planning.

Do You Really Need a Relationship Banker Certificate?

The answer to this question depends on the individual’s goals and aspirations. A Relationship Banker Certificate can be beneficial for individuals who are seeking a career in the banking industry or who want to further their education in the field. However, it is not essential for everyone.

For those who are looking to become a relationship banker, having a certificate may give them an edge over other applicants. It can demonstrate that they have the knowledge and skills necessary to succeed in the role. Additionally, some employers may prefer candidates with a certificate as it shows that they have taken the time and effort to receive specialized training in the area of banking.

On the other hand, there are some people who do not need a Relationship Banker Certificate if they already possess relevant experience or qualifications in banking and finance. For example, someone with a degree in accounting or finance may not need to obtain additional certification as they will already have sufficient knowledge about banking operations and regulations. Similarly, someone with years of experience working in banks may not need to gain certification as their existing experience will be enough for most employers.

In conclusion, whether you need a Relationship Banker Certificate ultimately depends on your individual circumstances. If you wish to pursue a career in banking or you feel that obtaining certification would benefit your career prospects, then it is certainly worth considering enrolling in such courses. However, if you already possess relevant qualifications or experience then gaining certification may not be necessary.

Related: Relationship Banker Resume Examples

FAQs About Relationship Banker Certifications

1. What certifications do I need to become a Relationship Banker?

Answer: To become a Relationship Banker, you must obtain a bachelor's degree in finance or a related field and obtain professional certifications such as the Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA).

2. How long does it take to become certified as a Relationship Banker?

Answer: The amount of time required to become certified as a Relationship Banker will vary depending on the certifications chosen, but it typically takes between one and three years to complete all requirements.

3. What are the benefits of obtaining a certification as a Relationship Banker?

Answer: Obtaining certification as a Relationship Banker can provide career advancement opportunities, increased job security, higher salary potential, and more credibility with clients.

4. What is the cost of obtaining certification as a Relationship Banker?

Answer: The cost of obtaining certification as a Relationship Banker will depend on the certifications chosen and other factors such as course fees, exam fees, and study materials. Generally speaking, it can range from several hundred dollars up to several thousand dollars.

5. Are there any online courses available for becoming certified as a Relationship Banker?

Answer: Yes, there are many online courses available for those interested in becoming certified as a Relationship Banker. These courses typically cover topics such as banking regulations, customer service skills, financial planning principles, investments and securities analysis, and risk management strategies.