IMCA rolls out with new wealth advisor designation

FWR Staff

10 August 2007

Industry assoc. says it's responding to need to private-client designation. Working with the University of Chicago Graduate School of Business, Investment Management Consultants Association is out with a new designation for wealth managers through its Chartered Private Wealth Advisor program.

"This is an advanced application-based curriculum designed for immediate integration into one's practice of serving high net worth clients," says Richard Joyner, chair of IMCA's wealth-management committee and president of private-wealth management at Dallas-based Tolleson Wealth Management. "Faculty will include both university graduate-school professors and experienced practitioners, which is a big key to success for the student."

In a series

The first CPWA self-study session, which is six months in length, starts next month. It will be followed in the second quarter of 2008 by a week of in-class training. Candidates must have five years of experience working with clients in financial services or directly related fields.

CPWA designees have to pass an exam, undergo 40 hours of continuing education every two years and adhere to IMCA's "Code of Professional Responsibility and Standards of Practice."

"This is not another program in financial planning: other designations could be considered entry-level curriculum in relation to this program," says IMCA's executive director Edythe Pahl. "We have identified a need for advanced financial education designed for experienced financial advisors and consultants who work with high-net-worth clients."

Denver-based IMCA has more than 6,700 members. In addition to its new CPWA designation, the association offers advisory designations through its Certified Investment Management Analyst, Certified Investment Strategist, Certified Investment Management Consultant programs. -FWR