I feel very privileged to have so many of you as subscribers. As a group, you cover a broad demographic, divided almost equally between investors and financial advisors (both registered investment advisors and stock brokers).
This post will be primarily of interest to financial advisors, but investors may also benefit. Credentials are important because they reflect a commitment by your financial advisor to be kept abreast of the latest changes in the fast-paced world of personal finance.
I obtained the information I’m about to convey to you from Stuart Zimmerman, Executive in Residence at the Olin Business School at Washington University in St. Louis. Stuart is a Certified Public Accountant, who was a founding partner at Buckingham Strategic Wealth. Stuart was instrumental in creating a new program for advisors seeking to enhance their credentials, which I discuss below.
There’s a pecking order of qualifications for investment advisors. At the top of the list is a Ph.D in finance or economics from an accredited university. Other solid credentials include being a Certified Public Accountant, a Chartered Financial Analyst, a Masters of Business Administration, a Certified Financial Planner or an advanced degree in corporate or international finance.
Certified Public Accountants can also earn a Personal Finance Specialist designation, which is awarded by the American Institute of Certified Public Accountants, reflecting significant additional study in personal financial planning, and a commitment to annual continuing education.
A new option
The Olin Business School is now offering an advanced degree (a master’s degree in finance) in wealth and asset management. It requires 30.5 credits, of which 26 credits are for required courses. Admitted students who do not have sufficient background in finance and/or accounting are required to take online foundation courses prior to joining the program.
The program offers real-world experience, access to prominent financial firms and speakers and career resources post-graduation.
This new program at Olin Business School is an excellent option for those advisors who want to refine their skills and improve their qualifications but are not able to commit to a more extensive academic program.
Resource of the Week
This article has a helpful discussion about qualifications of financial advisors.
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