IWI Expands CIMA Certification Access to Investment and Wealth Advisors in Africa
Posted by Allison Edmondson, Director of Communications
Mar 30, 2023 3:00:00 PM
Denver, CO – March 30, 2023 – The leading professional association for investment consultants and wealth management professionals, the Investments & Wealth Institute (the Institute), has entered into a collaboration with South Africa-based City Financial Training Company and the University of Chicago Booth School of Business (recently ranked by U.S. News as the top business school in the United States) to formally bring the highly regarded Certified Investment Management Analyst® (CIMA®) Certification to Africa.
“We are excited about this new partnership, which will allow investment professionals in Africa to access the peak international, technical portfolio construction certification through one of the world’s top business schools,” said Sean R. Walters, CAE, Chief Executive Officer for the Institute. “The global footprint of CIMA certification continues to grow as advisors recognize its value in showcasing their technical expertise and ethics in making investment allocation decisions on behalf of individual and institutional clients.”
The partnership emerged when City Financial Training Company—a specialist valuation and corporate finance education company headquartered in Pretoria, South Africa—recognized the need to provide investment professionals in Africa with more sophisticated investment management capabilities.
“The CIMA certification gives candidates in our country the opportunity to advance their knowledge and skill set. Those who successfully complete the program also have the potential to engage with other like-minded colleagues on a global scale through benefits offered as members of the Institute,” said Vusani Moyo, Director of Courses at City Financial Training Company. “We are very excited about this partnership as we share the same mission as the Institute and the Chicago Booth School of Business to provide world-class education and training for investment professionals.”
The CIMA certification is one of only a few financial services credentials in the world to meet an international standard (ANSI/ISO/IEC 17024) for personal certification. Endorsed by the Association of Professional Fund Investors (APFI), the CIMA qualification prepares individuals to offer superior investment advice and portfolio construction strategies to clients, setting them apart as experts in their field.
CIMA-certified professionals represent a variety of financial services industry roles—including, but not limited to—investment consultants, financial advisors, wealth advisors, analysts, financial planners, brokers, corporate executives, and product and service wholesalers. Since 1988, investment professionals from around the world have recognized the positive impact that the certification can have on their careers and ability to help investors. To date, more than 8,600 professionals from 19 countries hold the CIMA designation.
The first step towards CIMA certification is completing a registered education program. The Chicago Booth School of Business will serve as the executive education provider for students in Africa who wish to complete the CIMA registered curriculum. The Chicago Booth curriculum consists of 12 weeks of online self-study, followed by the option of either a two-day in-person or four-day live-online test preparation workshop. Additional test preparation materials include on demand recordings, e-books, practice questions, quizzes, and more.
“Our executive education program brings together top faculty, experienced practitioners, and a curriculum designed not only to help candidates achieve the CIMA certification but also provide a practical application to help candidates excel in their day-to-day professional lives,“ said Mark Lewis, Executive Director of Executive Education at the University of Chicago Booth School of Business. “We are very excited to evolve our relationship with the Institute and begin working with City Financial Training Company as a new partner to help deliver the program in Africa.“
The second and final step of the CIMA certification process involves sitting for and passing the Institute’s certification examination. This examination assesses professional knowledge, skills, and abilities in investment management, portfolio theory, behavioral finance, risk and return, portfolio construction, and the consulting process. To be certified, professionals must:
Integrate a recognized, complex body of knowledge into their daily practices
Demonstrate commitment to fiduciary standards and ethics when providing objective guidance to individual and institutional investor
Apply advanced technical portfolio construction and practice management skills to experiment with new technologies, processes, and applications of knowledge