The Investments & Wealth Institute announced updates to its Certified Investment Management Analyst® (CIMA®) certification program, effective August 1, 2024. These revisions aim to keep the certification at the forefront of technical portfolio construction and risk management, incorporating the latest advancements in ethical investment advice. The changes are detailed in the Defining Wealth Management report, which outlines the knowledge and capabilities required of wealth management professionals.
The updated curriculum will cover management and evaluation of model portfolios, target-date funds, ETFs, and index funds, alongside risk and return management, behavioral finance, and global macroeconomic trends. This represents a significant milestone for the CIMA certification, which serves as a benchmark for investment and wealth management professionals. Certified individuals, with at least three years of experience, are equipped to integrate complex investment knowledge, aiding prudent decisions and providing objective advice to individual and institutional investors.
Notable updates include increased focus on alternative investments and private markets, portfolio construction, and investment implementation approaches. These changes address the evolving wealth management landscape, emphasizing investment management, asset allocation methodologies, and client-oriented portfolio management. According to James LaFleur, Chair of the CIMA Certification Commission, the revisions ensure that practitioners comprehensively understand the portfolios they recommend and can create, manage, and adjust them to align with client objectives.
The updates are based on a comprehensive job task analysis study, reflecting the most advanced knowledge and skills of financial and investment consulting professionals. They are designed to uphold ethical standards and enhance the professionalism of investment and wealth management practices. Overall, these changes demonstrate the Institute's commitment to delivering cutting-edge education and standards for financial advisors, reinforcing its role as a premier professional association and education provider worldwide.
