Sponsor Form

I just looked at the sponsor form and noticed these questions for my supervisor: SUPERVISORS ONLY Please complete questions 6–8. (and be sure to check the supervisor box in section 2) 6. Does the applicant construct and rebalance portfolios of assets (e.g., fixed-income and equity securities) for clients? Yes No 7. Does the applicant value and recommend assets (e.g., fixed-income and equity securities) for inclusion in portfolios? Yes No 8. Does the applicant spend at least 50% of his/her time engaging in one or a combination of the above activities? Yes No I am a relationship manager and I would have to answer no to all of these questions. Would a negative response to these questions preclude me from receiving the charter?

I answered no to those questions last year when I applied and my experience was all accepted. I think 1 to 3 are much more important.

Great, thank you

when did you get this form and where did you get it?

When you apply for membership it is located under the “Sponsor” link. There’s an example of the sponsor kit there.

so this is after you pass level 3? sorry. clueless over here…

^If you passed LII, you can begin your process of applying for membership too; you don’t have to wait until LIII.

I will have to check it out. thank you.

ws Wrote: ------------------------------------------------------- > ^If you passed LII, you can begin your process of > applying for membership too; you don’t have to > wait until LIII. The link below gives you a chart of the process: https://www.cfainstitute.org/cfaprog/charterholder/membership/ It appears that you could apply after you pass Level I, but why pay 2 years of dues for nothing?

good point… joining then failing level 3 would not be sweet.

I agree. I am just pointing out the fact that you CAN apply for the membership before complete all the exam. Why pay 2 years of dues? Well, somebody may see some value of having access to the membership directory, network events, workshop…ect…ect. Anyway, just my 2 cent.

Why do we have to join the CFA institute AND a society? Does anyone know the rationale behind this?

It’s sort of like the distinction between a holding company and operating subsidiaries. A society is a operating subsidiary, and it has its own set of SG&A expenses that require its own dues. A holding company has certain general corporate SG&A expenses that can’t necessarily be allocated to the operating subsidiaries, and as such, it has its own membership dues. For NYSSA (the society in the Tri-State area, but you already knew that), the fee is $200 per year. CFAI is $225 per year. In total, that’s $425 per year. Come up with a “personal” discount rate for opportunity cost. Say, it’s 5%. $425 / 5% = $8,500 (assuming no inflation and fee increases, which is an aggressive assumption). That’s your upper bound (since the useful life of the CFA designation is only 30 years , max). So, under this simplified premise, if the incremental economic benefit from the CFA charter is less than $8,500, it is a negative NPV endeavor.

My head just exploded.

caspian Wrote: ------------------------------------------------------- > My head just exploded. Sorry, sorry. Didn’t mean to use an example from work. Anyway, Caspian, I think there’s a luncheon in late September where the charters will actually be handed out at NYSSA. Maybe I’ll see you there.

Well, Ive got one more level to go so if I do get a charter, it’ll save me a lot of work over the next year.