Passed Level 3, accepted work exp, joined local & CFA Inst. society and paid dues and submitted PCS....is it official now?

CFA General
#1

I log into the CFA website and it does say that I am a regular member now but I can’t find any reference that I am now a charterholder.

Is there another hurdle that I am missing or just have to wait for some date???

thanks for the help in advance

#2

I’m in the same boat. No, it is not official. Need the official word from CFA Institute. It will either be a welcome letter / email or a status change on your account on CFA web site. I’m guessing its another 30-60 days.

#3

Correct. Trying to remember how long it took last year but the information above sounds right. If you do a search you should find it. congratulations to you both.

#4

NOT OFFICIAL. I believe they said Sept 4 or 5th they officially award them.

Just keep logging into the CFAI website, as soon as you see “CFA” behind your name on the website, then you’re good.

#5

Thank you for the response. Over the weekend I reviewed the CFA Bylaws as ammended on 8 May 2011. I was unable to locate in the Bylaws any refernece to an ofical email or adminstrative procedure on the website with CFA after my name in order to use the CFA designation.

To obtain Charterholder Status and use he CFA designation as defied in para 3.4 of the bylaws it states

  1. Become a regular member - I now have “active status” , after my accepted payment, in my profile for my local and CFAI membership. So this requirement is satisfied as CFAI has accepted my payment and my regular membership is active.

2)Pass the exam with a MPS - Received email from CFAI stating that I passed Leevel 3…this requirment is met and accepted by the CFAI

  1. complete any additional requirements or procedures by the CFA…not aware of any other requirements as stated in the bylaws (above and beyond regular membership requirements)…so this requirement I believe is accepted and met.

After the 3 requirements are met and accepted by the CFAI one can use the CFA designation.

I did not read that one has to wait for an email or wait for CFA after your name on the website.

#6

OK…just got off the phone with the CFAI. Apparently they do award the charter staus throughout the year but they “turn off” the process for several weeks after the Level 3 results are mailed.

The rep stated that the Board of Governers will meet again soon and I should wait to use the CFA designation until I receive notice in the first week of September 2013…I guess that is the “official acceptance” that was not clearly defined in the Bylaws.

#7

you are now in the period where people are known as “CFA charter pending limbo”

you have literally satisfied all requirements, but CFAI hasn’t “officially granted” you right to use the letters.

#8

Think of it like graduating from school. You’re technically not a college graduate until the school says you’ve graduated.

#9

you are not charterholder until the CFAI tells you so!

it shouldn’t be a long wait though! good luck

#10

Shit, this is like being in the “friend-zone.”

#11

Friend-zone is different, there is nothing to look forward to…

#12

While it is true you are not officially awarded until you are officially awarded, you passed all qualifications so by all means flaunt it. The list of requirements stating what you need befor you can use designation does not say “wait for official word”. So CFAI would be hard pressed to fault you otherwise. We are essentially waiting for CFAI’s IT team to get back from vacation (well deserved, perhaps) and update the website.

#13

I strongly recommend NOT following this advice. Is it seriously worth a violation of CFAI standards that you can’t wait 2 more weeks?

#14
  • Infinity. CFAI is not hard pressed to do anything, they make the rules and can fault you at their will.
#15

So if I have several important meetings and I think adding the designation to my card or email would add value to that relationship and therefore my employer (all encouraged by CFAI), you suggest avoid being loyal to my employer even though using the designation once all requirements are met is not a violation? If you can show me in any of the documents or online where it says a candidate must wait for the IT team to update the website, then I will agree with you and avoid adding this value to my employer.

#16

do your own homework. There has already been other people that have proved you cannot use the CFA letters during this period. In fact, call CFAI yourself. which you probably won’t because you know they will say ‘no you are not a CFA charterholder yet’

#17

Other people on AF now determine when I can use the designation? I’ve done my homework and I have emailed CFAI. They responded with just stating when charters are awarded (after August break) and made no mention that I could not use the designation even though my email to them explicitly asked. If you find some documentation to this - and I dont mean some AF post from a random internet user - please share.

#18

I just read the CFAI bylaws. Here is the relevant excerpt (emphasis added):

3.4 Charterholder Members. (a) Each applicant seeking to become a Charterholder Member of CFA Institute shall: (i) be an individual who has satisfied (1) the requirements to become a Regular Member and (2) the requirements of the CFA Program as established by CFA Institute and achieved the minimum passing score; and (ii) complete and submit any additional application procedures or requirements established by CFA Institute. (b) Upon satisfaction of the requirements in Section 3.4(a) and acceptance by CFA Institute, an applicant shall become a Charterholder Member and be granted the right to use the Chartered Financial Analyst® (CFA®) designation.

#19

Dude. Call CFAI. LITERALLY ASK: "AM I A CFA CHARTERHOLDER NOW? and CAN I USE THE LETTERS? "

Is this so hard? Seriously, what’s the problem?

FYI, If they say charters are awarded after August, and you still can’t understand what that means, then you are just choosing to believe what you want to believe.

#20

You just gave the answer. They told you that charters will be awarded after the August break. Because the August break is not over yet, charters have not been awarded, ergo you are not yet a charter holder and are not entitled to utilize the letters yet. You point out that they didn’t say you couldn’t use the designation even though your email explicitly asked them, but you fail to point out that they didn’t say you could use the designation even though your email explicitly asked them.