Although it is too early to start thinking about the charter since I still have one level to go, I was wondering about the whole chartering process.
Obviously, the most important step is to have someone confirm your experience but I was wondering can I simply do this step now to get it out of the way (I have four years of relevant experience). I know there is a payment involved but I am assuming the payment will be due when I actually apply for charter? Is there anything else that needed to be done, other than filling in those basic forms CFAI expects from you as member?
No that’s it. You fill out the forms and get recommendations from 3 people (or only 2 if one recommendation is from a charterholder from your local CFA society). They review it and tell you if you application is accepted. Once it’s accepted you pay dues to become a member. I can’t remember the form’s name, but you also sign that you have not violated any laws of the CFA Code and Standards of Professional Conduct. Once that’s done, and you’ve paid your dues, you are a member. To be a charterholder, you need both membership and a Level 3 pass. A lot of folks hold off paying dues until they pass the exam. I didn’t, I paid them earlier, which was probably risky on my part but it was nice instantly having the charter once I got my Level 3 pass.
the process isn’t deal and is probably draw-out longer than it should be. but yeah, get some references. submit that along with your work experience to cfai for review. and after that it goes to your local society (of your choice) and then i guess you sign some stuff for ethical reasons, pay some fees and bam. you’re a charter.
But I applied; approved by CFAI and waiting for the local society approval. I dont see any place to pay before the local society approval. How do you pay before all approvals are in?
You can approve work experience, pay duties and become a regular member before passed level 3 in case you would become a charterholder immediately after passed level 3. I don’t know wether you can delay mship charges payment for 1 year till new level 3 results revealing.