Press Release to clients re: receiving charter

The partners in my firm (none of which are charterholders) want to send a “press release” via email to our clients (we are in private wealth management) regarding me receiving the charter. I don’t really want to do this, it seems like we would basically be using the charter as marketing material for the firm which is certainly NOT why I pursued this. I am over reacting?

no you are not

The CFAi recommends you either disassociate yourself from the activity or Burn the Motha F’n Place to the ground, whichever is more strict.

BURN the Motha F’n Place to ground

why disassociate yourself from the activity? is it against the code of ethics or something to market the charter as long as it is factual?

I’d say you are, a bit. It’s a reality that the firm has to market. Having another charterholder on board gives them a chance to make a good news announcement to their clients. So grin and bear it - in the grand scheme of things, it’s pretty small cheese.

what does your company want to indicate ( motive is important) if you want to market it as a commitment to quality then sure go ahead ( btw how many Charter holders were employed at LEH??) but if you want to promise superior performance then do not go ahead ( if you do make sure CFAI’s PCP is not around)

Boy you want to talk about using the CFA as marketing material, that was my last shop. As the only CFA in the whole company, they really milked that/me for all it was worth. Man am I [ever] glad to be out of there. Willy

By sending a press release to clients, the firm (in my opinion) is conveying superiority through the implied importance of the CFA designation. Or, they are over emphasizing the importance of the CFA charter, which is frowned upon.

just like when they post all the names in the WSJ?

they can send it out congratulating you for your achievement but they cant gaurentee or hint that having the charter will ensure future outperformace.

I think this may fall more under fair and accurate disclosure. Because you are being vague in your representation it may be a violation. I believe you should be more specific to your clients perhaps with a line like, “John Doe is a CFA, which allows him to garuntee consistant alpha of more than 11% due to superior investment techniques.”

As long as it conforms to CFAI standards, why would you care? It does seem to indicate potential quality issues at your firm, however - having CFAs at an AM firm is not exactly a differentiator.

it was a joke


McPass, first time I hear from you in months, and this is what I get…sheesh