RIAs Driving New Wave Of Interest In CIMA Designation, IMCA Membership

Wednesday, January 11, 2012 11:07
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RIAs Driving New Wave Of Interest In CIMA Designation, IMCA Membership

Tags: financial advisor

The Certified Investment Management Analyst designation got a lot of press last year as an emerging competitor to existing credentials. It turns out that nearly all of that interest was driven by registered investment advisors.

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Membership in the Investment Management Consultants Association, which administers the CIMA credential, surged a healthy 7% to 8,400 last year. 

 

Drill down into the numbers and you'll find that a net 620 RIAs joined the organization.

 

But overall membership actually increased by only 550.

 

Granted, attrition plagued the broker-dealer channel last year, but this indicates that RIAs are signing up for the CIMA faster while other types of advisory firm are giving up.

 

At this point, 27% of IMCA members are RIAs. If this goes on, IMCA may one day become a rival to today's RIA-heavy trade groups.

Comments (1)

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agluck
There's a fundamental difference between trade groups and certification bodies. IMCA is a certification body. FPA is a trade group. In today's environment, certification bodies are more viable financially than trade groups.

CFA Institute is a trade group AND certification body. CFP Board, in contrast, is a certification body only.

FPA is a trade group only. It offers no professional certifications.

Therein lies the relative weakness now plaguing the FPA versus other trade groups.

FPA's membership is slumping while IMCA, which provides professional certification, is growing at a healthy pace.


agluck , January 11, 2012

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