Thinking About Going Global? International Certifications Are The Answer

Sunday, December 26, 2010 23:51
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Thinking About Going Global? International Certifications Are The Answer

Given the dramatic development of emerging economies around the world -- not to mention the strong Canadian market just across the border -- many advisors may find themselves serving or seeking an increasingly international clientele.

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I've known advisors cross-licensed in Canada, Germany, and Israel, to name just three countries where a U.S.- or internationally based financial professional can capture added clients with the right marketing plan and compliance to local law.

However, the process of dual certification to work legitimately in the second country could be tedious unless you really want to open up the second market. 

For example, certified financial planners are recognized around the world, but the cert doesn't transfer across national borders -- you'll have to re-apply to take your designation up to Canada or over to Asia.

According to a recent academic study (ironically enough quoted in a Canadian industry publication) there are only six truly international and universally transferable certifications out there: chartered financial analyst, certified treasury professional, financial risk manager, professional risk manager, chartered alternative investment analyst, and energy risk professional. 

Of these, arguably only the CFA is normally considered a retail-facing cert. Its usefulness varies from country to country, so it may be more effective to go the long way around after all.

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