Ok I see what your saying. I’m in Canada too and work as an Advisor with an independent firm. I hold the CIM and PFP. The HNW space is a pretty competitive market, especially in Canada. Also, very concentrated towards the major markets (i.e. Toronto, Vancouver, Calgary, MTL, etc.).
Yep, I agree. I was lucky to get in when I was younger. But the space is growing rapidly and they’re always looking for talent - even outside the larger markets. The CFA will give you a leg up (particularly in smaller markets) so stick with it.
Well I like to post here but haven’t sat for a CFA exam since my early 20s. I think I’ll get the CLU next, then the TEP. I already have my undergrad and MBA both in Finance, so, we’ll see. The big issue that I have is that the CFA just has a poor brand recognition with the general public. I agree though, if your looking for the higher up client facing roles at the bank or bank owned firms, the CFA is definitely helpful.
I discovered that the designations are best for attracting the clients advisors. I got more calls and referrals from attorney, CPAs, and other professionals once I got my ChFC and CLU. They seek professionals they feel comfortable recommending. They feel comfortable because you show that you’ve achieved a minimum level of competence and follow a code of ethics. I believe the CFA will have the sam effect. Also some of my professional clients prefer to see you have special training. My wife and her colleagues are board certified physicians in internal medicine, oncology, and hematology. They seem to respect the extra training. And no one seems to know the difference between a CFA, CFP, CLU, ChFC. It’s as long as you have something… there are no CFPs in my area and I’m one of a few CLU, ChFCs here. There are only 3 CFAs one is a professor, the other manages an endowment, and the other is my practicing competition. You should train in whatever you think will improve your practice. What will differentiate your product and give you a comparative advantage and what will attract clients. There is so much more to it because there are a lot of successful advisors who have no charter or any designation.
this is a real thing?