Number of Charterholders who are also CPAs

Out of general curiosity, I was wondering how many CFA charterholders are also CPAs. Some quick internet searches did not reveal the answer. Does anyone know if this number is public? If so, how many are there?

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probably not that many. they target different areas of finance. And I would wager most of them went from CPA -> CFA

That has been my experience with the handful of people I have come across who hold both designations.

That may change if the job situation in finance continues to degrade.

a lot of CPA attempts the CFA though, i don’t know how many of them eventually obtain the charter.

its tough to add the CFA designation and find a position where you can shine with both specialties. i think the limited number of positions means the number of CPAs who are CFAs is low. i know a few. in Canada, CPA/CA + CBV (Chartered Business Valuator) makes more sense for most occupations.

Many people change their careers nowadays though, so i am not surprised if the number is increasing.


Which brings me to something else I was thinking about: how many charterholders who are CPAs have also earned an MBA? It seems like most people who have worked to go through the CFA program and are CPAs would have also completed an MBA program, but I guess that data is not out there anywhere.

I find that very unlikely. CFA Charterholders will likely move to corporate life, consulting, or some other internal finance role. I don’t see a loss of a finance job leading them to pursue accounting.

It’s probably hard to go from finance to accounting with a CFA, since there are so many accountants out there with technically accounting training.

I think Geo meant that more people will choose CPA and less will choose CFA, and finance-type jobs will drop through attrition. I don’t think he meant that a CFA Charterholder will just leave finance and move to accounting the next day.

For those unaware, there are specific educational requirements that vary by state to get your CPA license, and the vast majority of people will not have met them. This makes it impractical for most to get the CPA designation.

Most states (maybe all states?) have a 150 hour college hour requirement. Typically, CPAs will get a master’s degree because of this requirement.

In other words, anyone willing to put in the time for the exams can get their CFA designation (provided they meet the experience requirement), but that is not the case for CPAs. As an actuary, I can go grab the CFA designation, but CPA is out of bounds for me unless I want to go back to school.

Doesn’t The Greenman also have the much coveted CFP?

Is the 5-7% your estimate? Or do have some evidence behind it?

I’m a CPA going for my CFA designation. I spent my first two years out of school at a public accounting firm where I met a handful of people who were also taking the exams. I would say it’s not uncommon to see CPAs w/ CFA designation especially in the financial services industry. My firm actually paid for the review courses if you worked in the valuation related side of accounting. Personally, I’m studying to get out of accounting, which I’m sure all of you are aware is not the easiest thing to do.

On the topic of CPA + CFA + MBA, I see it as…

  • Get your CPA if you want to be an accountant

  • Get your CFA if you want to be a research analyst

  • Get your MBA if you absolutely hate your job or got fired

If you start mixing those titles, you probably made a mistake somewhere in your career/life…(like me).

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^ That last line is the bitter truth.

It seems like most charterholders have also completed an MBA program.

I always think that accounting and finance are interrelated. If one is CFA and CPA ,this person must be an expert (or sort of) in both accounting and finance!

And with MBA, the person can move up to management positions (that is what MBA teaches you no?).

Therefore if someone is CPA, CFA and MBA, like he should be very knowledgeable and respectful (in terms of how much he knows), and probably makes decent amount of money. Right Qorghdud? Are you not having a decent job and at a decent management position in a corportation? Or maybe on your way getting there?