Professionals with CIMA certification tend to have careers with financial consulting firms, have extensive client interactions, and manage large amounts of money. That’s why the CIMA® certification is highly valued and respected, both by clients and peers, as it highlights the most experienced and committed professionals.
CIMA certification is the only designation for advanced financial advisors and helps them to improve their industry competence, as well as their compensation, and win more business. In fact, according to the Investment and Wealth Institute, which bestows the certification, CIMA® professionals attract and manage more client assets than non-certified advisors (see below).
In general, CIMA certification focuses on asset allocation, ethics, due diligence, risk measurement, investment policy and performance measurement. The minimum requirement to begin the program is three years of documented professional experience as a financial advisor—and it is a rigorous program involving a qualifying exam, two-day in-person course,
A major differentiator for CIMA certification is that it the only U.S. financial services certification program to achieve ISO 17024 certification and earned accreditation by American National Standards Institute.
5 Reasons to Earn CIMA Certification
According to the IMCA, which regularly surveys its members, earning CIMA certification is a proven way to advance in your career. Here are some of the benefits and outcomes of CIMA certification it highlights:
- Land Top Clients – Consulting practices with CIMA professionals on the team, on average, manage twice as many assets per client and generate twice the revenue per client as other practices.
- Manage More Assets – Better than half of practices with more than one CIMA professional advise high-net-worth and ultra-high-net-worth clients. This translates to greater compensation all around.
- Join An Exclusive Club – This one is important: 84% of CIMA professionals have 10+ years of experience as financial advisors, which is much higher than other financial designations.
- Gain Specialized Expertise – Open your business to institutional clients such as foundations, endowments, family offices and 401ks, which require unique service and capabilities.
- Take The Lead – Another big one: 84% of CIMAs are either practice owners or team leaders at their firms, making them central to the direction and focus of the business.
Get More out of Your Career – and Not Just Money
While many of the listed benefits boil down to money and prestige – one-third of CIMA advisors earn $380,000 or more a year – CIMA certification also leads to greater job satisfaction and happiness, according to research conducted by the Aite Group.
Want to know about the CIMA certification process? Find out about how to become a CIMA here.