ANAB Accreditation: What It Means for CIMA® and CPWA® Certification

What Is ANAB Accreditation? 

Our Certified Investment Management Analyst® (CIMA®) and Certified Private Wealth Advisor® (CPWA®) certifications are accredited by the ANSI National Accreditation Board (ANAB)—the largest, third-party, multi-disciplinary accreditation body in the western hemisphere—under ISO/IEC 17024, the international standard for personnel certifiers.  

Developed by the International Organization for Standardization (ISO) in 2003 to harmonize the personnel certification process worldwide, ISO/IEC 17024 is assessment-based: certification may only be conferred upon candidates who successfully complete a competency-based examination that is fair, valid, reliable, and free from discrimination based on non-competency factors such as race, age, gender, or ethnicity.  

This independent assessment validates that CIMA® and CPWA® teach the skills and knowledge deemed critical to effectively work in the investments and wealth management industry—and which can help you to better address the ever-evolving needs of HNW and UHNW clients. 

Why the Institute Chose ANAB Over Other Accreditation Options 

The Investments & Wealth Institute chose ANAB accreditation because it represents a higher bar than other U.S. accreditation options. Unlike some alternatives, ANAB's process includes not only a review of submitted materials but also an on-site visit to verify compliance firsthand. ANAB also simultaneously represents an American national standard and the international ISO/IEC 17024 standard—enabling CIMA® and CPWA® to be recognized globally.  

ANAB's track record spans nonprofit organizations, large multinationals, and government agencies across many sectors, making it the most credible choice for a rigorous financial services certification. 

What Standards Must CIMA® and CPWA® Meet Under ANAB? 

Initially accredited in 2011, the CIMA® certification was the first financial services credential in the United States accredited by ANAB. In 2016 and again in 2021, CIMA® certification was re-accredited as a global certification, with a global body of knowledge and skills for investment advisors. CPWA® earned accreditation in 2022.  

The CIMA® and CPWA® certifications have been accredited as quality credentials that protect and enhance their value to certified professionals and provide reassurance for regulators, compliance departments, and clients. ANAB accreditation highlights the advantages of bona fide certifications: 

  • The certification process is valid, reliable, fair, transparent and objective.

  • CIMA® certification consistently distinguishes those who meet a level of competency and skills as an investment advisor or consultant from those who don’t.

  • CPWA® certification consistently distinguishes those who meet a global standard of competency and skills in private wealth management from those who don’t.

  • The program is supported by an organization with sound management systems.

Individual Standards

To meet the rigorous ANAB ISO/IEC 17024 accreditation standard for personnel certifications, the Institute demonstrated its adherence to nearly 120 individual standards, including those that can be summarized in the following broad categories:

Credibility: ANSI/ISO/IEC 17024 is assessment-based, which means that certification may only be conferred upon those candidates successfully completing a competency-based certification examination. The certification examination must be fair, valid and reliable. The examination must be fair and cannot discriminate between persons based upon non-competency related factors such as race, age, gender or ethnicity. A valid examination correctly measures whether an individual has the necessary competencies for the job. Validity is an indicator to establish that the process measures what is intended to measure. Reliability demonstrates that the examination measures a person’s abilities in a consistent manner.

Impartiality: The certification body must demonstrate that its structure, policies, and procedures ensure impartiality and objectivity and that it manages conflict of interest arising from certification activities.

Independence: The certification functions must be independent of training to ensure that confidentiality, information security and impartiality are not compromised.

Transparency: The certification body is required to have an active complaints process to resolve complaints against its activities as well as complaints against individuals that it has certified.

Accountability: The certification body must have due process for taking away a credential for unethical or incompetent behavior.

Balanced representation of stakeholders: The standard requires that the certification body involve key stakeholders in making certification related decisions. Additionally, as stated above in Section A, subject matter experts (SMEs) must be involved in creating the certification scheme requirement based on a valid job or practice analysis, the foundation upon which a fair, valid and reliable examination is constructed.

Continuous Quality Improvement: The certification body must develop a management system for continual improvement of its program.

Other requirements: The standard is extremely comprehensive and covers all aspects of certification including examination and data security, recertification, resource requirements, confidentiality, competence of personnel involved with certification activities, financial requirements and use of certification and logo marks.

To maintain accreditation, ANAB requires annual surveillance applications and audits by independent assessors, plus a full reaccreditation application every five years—ensuring CIMA® and CPWA® certifications are held to rigorous ongoing standards, not just a one-time review. 

COMMITMENT TO EXCELLENCE

How Does ANAB Accreditation Protect Certified Professionals? 

During the past several years as Investments & Wealth Institute anticipated applying for accreditation, our volunteer policymakers set transparent standards for registering education providers, modified the governance structure to address potential conflicts of interest, and separated the education program from the actual certification function.  

Attainment of ANAB accreditation grows and protects the integrity of both the CIMA® and CPWA® certification. Investments & Wealth Institute is positioned at the forefront of financial services credentialing bodies, and the value of CIMA® and CPWA® certification is undeniably greater. Accreditation protects the value of CIMA® and CPWA® certification from regulatory trends in financial services, recognizes the quality of Investments & Wealth Institute’s organizational and certification processes, more effectively positions CIMA® and CPWA® certification for international growth.  

Fewer than 5% of financial services credentialing programs meet accreditation standards and few create absolute separation between examination and education. Certified professionals, clients, employers, and regulators can continue to be assured that the CIMA® and CPWA® marks are granted and administered under rigorous guidelines.  

FINRA, which maintains a public directory of professional designations, has established a dedicated sub-listing for designation programs accredited by ANAB or NCCA—recognizing accredited credentials as having voluntarily met best-practices standards. The CIMA® and CPWA® certifications appear in this listing. 

What Is the ANSI National Accreditation Board?

The ANSI National Accreditation Board (ANAB) is the largest multi-disciplinary ISO/IEC 17011 accreditation body in North America, with comprehensive signatory status across the multilateral recognition arrangements of the International Laboratory Accreditation Cooperation (ILAC).  

ANAB has accredited more than 2,500 organizations in approximately 80 countries, and more than 5.2 million people worldwide hold a certification from an ANAB-accredited organization. The ANAB accreditation portfolio includes management systems certification bodies, calibration and testing labs, product certification bodies, personnel credentialing organizations, forensic test and calibration service providers, inspection bodies, police crime units, greenhouse gas validation and verification bodies, reference material producers, and proficiency test providers.  

ANAB is a wholly-owned subsidiary of the American National Standards Institute (ANSI), a private, not-for-profit organization dedicated to supporting the U.S. voluntary standards and conformity assessment systems and strengthening their impact, both domestically and internationally, including by administering procedures and criteria for accreditation of conformity assessment programs and encouraging organizations to prepare and submit such programs for accreditation.