The History of the Institute

For nearly 40 years, Investments & Wealth Institute has been the professional home for forward-looking professionals across investments, wealth management, and retirement planning.

See where we come from. Imagine what’s next.

Timeline History of Investments & Wealth Institute

1980's

  • The Investment Management Consultants Association (IMCA) is founded by eight investment consultants to advance public understanding of investment consulting and enhance professionalism in the field through education, a code of ethics, and certification.

  • The IMCA Code of Professional Responsibility is adopted.

  • IMCA publishes the first issue of The Monitor, which goes on to become one of the most highly regarded publications in the financial industry (it is renamed Investments & Wealth Monitor in 2008).

  • IMCA implements a matrix of Disciplinary Rules and Procedures to guide enforcement of ethics violations.

  • The first CIMA® (Certified Investment Management Analyst®) certification course and exam are administered, in partnership with The Wharton School. Thirty-one individuals are certified.

1990's

  • IMCA Performance Reporting Standards are adopted — providing guidance on collecting, analyzing, and reporting performance data to clients.

  • IMCA publishes the first issue of the Journal of Investment Consulting.

2000's

  • IMCA merges with the Institute of Certified Investment Management Consultants, increasing membership by over 40%, to over 3500 professionals.

  • IMCA consolidates and expands its guidelines by adopting the Disciplinary Rules and Procedures and adopts the IMCA Standards of Practice to guide consultants in their professional conduct.

  • The first issue of Research Quarterly is published.

  • IMCA develops the Certified Private Wealth Advisor® (CPWA®) certification program, and in collaboration with The University of Chicago Booth School of Business, welcomes the inaugural class —comprised of 40 financial professionals. Booth offers an in-depth, in-person executive education experience for candidates.

2010's

  • IMCA consolidates two national conferences into the IMCA Annual Conference, hosting 1,600 advanced investment and wealth management professionals in Orlando.

  • The CIMA® certification becomes the first financial services credential in the United States to earn accreditation by ANAB (the American National Standards Institute) — the largest, third-party, multi-disciplinary accreditation body in the western hemisphere — under an international standard for personnel certifiers (ISO/IEC 17024). Among others distinguishing characteristics, ANAB accreditation means the certification process is confirmed to be valid, reliable, fair, transparent and objective, and that the CIMA® certification consistently distinguishes those who meet a level of competency and skills as an investment advisor or consultant from those who don’t.

  • IMCA introduces the Best of IMCA advanced workshop series.

  • Wealth Management Body of Knowledge is created after the Institute conducts a comprehensive job task analysis of professionals who serve wealthy clients. The Institute defines wealth management as “a distinct field of practice, through which qualified professionals help HNW clients achieve their goals and objectives related to the accumulation, protection and distribution of wealth by applying a set of specialized knowledge and skills.”

  • CPWA certification is refined and optimized using the new Wealth Management Body of Knowledge

  • IMCA surpasses 10,000 members and certified professionals worldwide — and celebrates its 30th anniversary.

  • IMCA’s annual calendar of educational programs and conferences host more than 6,000 professionals in total.

  • CIMA certification enjoys re-accredition by ANAB (ANSI National Accreditation Board) as a global certification under an international standard for personnel certifiers (ISO/IEC 17024).

  • IMCA® Becomes Investments & Wealth Institute - After deep reflection, research, and member feedback, the Board of Directors unanimously votes to change the name of the organization to the Investments & Wealth Institute. The change is formally announced on October 16, 2017 at a Private Wealth Advisor Forum in Chicago.

  • The Yale School of Management expands its collaboration with the Institute and launches an online CPWA Certification Program – opening up the opportunity for many seasoned practitioners to enhance their skills while maintaining their busy practices. (The University of Chicago Booth School of Business continues to also serve as an executive education provider for the CPWA program, having delivered the education requirement for CPWA certification since 2008).

  • RMA® Certification Comes to Investments & Wealth Institute - The Institute’s ongoing research demonstrates that while CIMA and CPWA certifications are well developed programs, many of the retirement planning educational options available to financial advisors were limited and tilted toward specific product recommendations. In response to this gap, the Institute acquired the Retirement Management Advisor® (RMA®) certification from the Retirement Income Industry Association (RIIA).

  • The Investments & Wealth Monitor wins an Azbee Silver Award of Excellence from the American Society of Business Publication Editors (ASBPE) and an Excel Silver Award from Association Media & Publishing (AM&P) — these awards are among the most prestigious in the trade media industry.

  • Women in Wealth program launched - Women in Wealth was designed to heighten the awareness of the women disrupting the financial advice and wealth management industries and draw attention to the tools and resources available to women to improve their career trajectories and level the playing field.

2020's

  • CIMA certification enjoys re-accredition by ANAB (ANSI National Accreditation Board) as a global certification under an international standard for personnel certifiers (ISO/IEC 17024).

  • CPWA® earns ANAB (ANSI National Accreditation Board) accreditation — the CPWA certification joins CIMA as an accredited certification program, meeting the meticulous international standards set by ANAB for personnel credentialing organizations, confirming the CPWA certification consistently distinguishes those who meet a global standard of competency and skills in private wealth management from those who don’t.

  • “Annual Conference Experience Academy” (ACE Academy) rebranded as “Investments & Wealth Experience,” with the inaugural held at the Wynn Las Vegas from April 7-10 2024 in Las Vegas, Nevada.

  • Retirement Management Advisor® (RMA®) Certification updated with new examination and a more robust and comprehensive curriculum.

  • Investments & Wealth Academy learning platform launches, offering a rich selection of 100

  • CIMA® certification added to NASAA Model Rule’s Series 65/66 Exam Waiver List, and the CIMA Body of Knowledge, Curriculums, and Exam are updated.

  • The Academy Wins “Best in Industry Association” in the WealthManagement.com 2024 Wealthie Awards.

  • The Institute awards the 9,000th CIMA certification, the 4000th CPWA certification, and enjoys over 21,000 members.

2025: Investments and Wealth Institute Celebrates 40th Anniversary

  • Investments & Wealth Monitor changes name to Investments & Wealth Review

  • CPWA Body of Knowledge, Curriculums, and Exam updated

  • The Institute celebrates its 40th anniversary

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