Maybe this has been discussed before (couldn’t find the thread). Did anybody ever attempt to create a rival to the CFA? Accounting has CMA, CGA. CA. CPA … Risk Management has FRM, PRM, CTP … I believe there can be an opportunity there even though I must admit the programme is too entrenched in this business ? Any thoughts on the “?” Tx.
Well, in terms of rival to a CFA, there’s always the Indian CFA institute. Also, I keep getting emails to go take a LIFA exam. I think someone is just wanting to churn test takers for the Promark test centers. There’s also the CFP for financial planners, which could overlap with the wealth management CFA types.
CTP is in no way a rival to the FRM. CFP=CFA…thats hilarious.
Yeah, sorry, I wasn’t trying to equate CFP and CFA. just point out that wealth management CFA types might find themselves working alongside people with CFPs. There is pretty much nothing that is an equivalent amount of work to a CFA, except perhaps an MFE or Ph.D. in Finance, and those are both much more specialized (and the Ph.D. tends to take a LOT longer).
I was always under the impression that in accounting, as a general rule its: CA > CPA > CMA > CGA . Of course CA is different in each commonwealth nation, but that’s the jist of it. Obviously each has there own idiosyncracies. Closest thing to CFA is in my mind CA or CPA for Level I and Level II. Whereas Level III it would def be closest to CFP. I said “closest” though. I think CFA is broadly speaking a quirky marriage between FSA and wealth management.
Alot of people in Private Wealth Management/ Investment Counsellors who deal with High Net Worth investors have the CFP along with the CFA because these people gain knowledge about tax/estate planning from the CFP and the wealth management part is somewhat like the level 3 wealth management of Level 3.