CFA Institute Investment Foundations™ to Set Education Standard for the Investment Management Industry
CFA Institute, the global association of investment professionals, announces three changes to the Claritas Investment Certificate which will make it a new standard of knowledge and ethical awareness within the investment management industry:
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The Claritas Investment Certificate will be renamed CFA Institute Investment Foundations™ to align the program more closely with the CFA Institute brand.
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Everyone will have free online access to PDF versions of the course of study, so that they can learn the content without having to register for the exam.
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The total cost of the program, including the exam, will be $250 for individuals and $200 for firms who make an initial purchase of five or more vouchers.
CFA Institute Investment Foundations is a comprehensive global education certificate program which provides a clear understanding of investment industry essentials. It is designed for all professional disciplines outside of investment roles, including: IT, operations, accounting, administration, and marketing. The program is made up of seven modules: Industry Overview; Ethics and Regulation; Inputs and Tools; Investment Instruments; Industry Structure; Serving Client Needs; and Industry Controls. There is no education or experience requirement and the course of study culminates in a single exam available at test centers around the world. On successful completion of the examination, candidates are awarded a certificate of knowledge.
Paul Smith, CFA, president and CEO of CFA Institute, commented: "Education is at the heart of our mission and over the last three years we have worked with leading asset management firms to help shape the program. While our employer partners confirmed the high quality content of the program, they also urged us to make it more accessible to everyone in the industry. We are meeting that challenge today and in doing so we continue to work towards raising the professional standards of the investment management profession.”
To date, over 10,000 candidates from 180 companies and more than 100 countries have passed the exam and earned their certificates, with 87% of candidates indicating that they would recommend the program to others. Further, in a survey of those who manage certificate holders at a major asset management firm, 98% of managers would recommend the program.
Steven Bonifacio, Supervisor – Reconciliations, at Citco, is the 10,000th certificate holder. Based in the Philippines, Steven successfully completed his course of study in July 2016. He commented:
"I chose to take the Investment Foundations because it is a benchmark of knowledge in the industry. After ten years of experience in financial services, I learnt new information about ethics, financial instruments and how industry participants interact with each other. It is good practice for companies to invest in their employees and further their knowledge of the financial markets and instruments they are going to be handling."
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