The Alphabet Soup of Financial Certifications
If you have trouble telling the difference between a CFA, CFP, CIC, ChFC or any of the other financial certifications, you're not alone. How do you sift through this alphabet soup to find the best financial professional for you? Here we look at the nine most popular designations with a brief explanation of the education and expertise each designation signifies and the kind of work done by the professionals holding them. An essay writer is a person whose job is to create articles and they can also cover the financial topics in the form of essays.
Certified Financial Planner – CFP
Those with the CFP designation have demonstrated competency in all areas of financial planning. Candidates complete studies on more than 100 topics, including stocks, bonds, taxes, insurance, retirement planning, and estate planning. The program is administered by the Certified Financial Planner Board of Standards Inc. In addition to passing the CFP certification exam, candidates must also complete qualifying work experience and agree to adhere to the CFP board's code of ethics, and professional responsibility and financial planning standards.
A financial planner works with individuals to help them understand their options and make financial decisions suited to their personal financial situation and goals. Because of the nature of their work, people place a good deal of trust in these individuals. The CFP board posts information on the financial planning process and current licensees, which lets clients of CFPs verify if their financial planners' designations are in good standing. The last thing anyone needs is to choose a CFP whose certification has been revoked. The writer assigned to write my essay request about financial topics is qualified to the same academic level or higher than your writing requirements.
Chartered Financial Analyst – CFA
This designation is offered by the CFA Institute (formerly the Association for Investment Management and Research [AIMR]). To obtain the CFA charter, candidates must successfully complete three difficult exams and gain at least three years of qualifying work experience, among other requirements. In passing these exams, candidates demonstrate their competence, integrity, and extensive knowledge in accounting, ethical and professional standards, economics, portfolio management, and securities analysis.
CFA charter holders tend to be analysts who work in the field of institutional money management and stock analysis, not financial planning. These professionals provide research and ratings on various forms of investments.
Certified Fund Specialist – CFS
As the name implies, an individual with this certification has demonstrated his or her expertise in mutual funds and the mutual fund industry. These individuals often advise clients on which funds to invest in and, depending on whether or not they have their license, they will buy and sell funds for clients. The Institute of Business and Finance (IBF), formerly known as the Institute of Certified Fund Specialists, provides training for the CFS; and the course focuses on a variety of mutual fund topics, including portfolio theory, dollar-cost averaging and annuities. An online essay writing service offers an original financial papers crafted by our professional essay writers.
The knowledge these CFS designees hold is kept current through their continuing education requirements.
Chartered Financial Consultant – ChFC
Individuals with the Chartered Financial Consultant (ChFC) designation have demonstrated their vast and thorough knowledge of financial planning. The ChFC program is administered by the American College. Candidate must complete an exam in financial planning, including income tax, insurance, investment, and estate planning, and are required to have a minimum of three years experience in a financial industry position.
Like those with the CFP designation, professionals who hold the ChFC charter help individuals analyze their financial situations and goals.
Chartered Investment Counselor – CFA
Given by the Investment Adviser Association, CFA charter holders who are currently registered investment advisors can study for this is a designation. The CIC program's focus is on portfolio management. In addition to proving their high-level expertise in portfolio management, CIC candidate must also adhere to a strict code of ethics and provide character references. Persuasive speech topics should be acute and of real interest for the wide audience so these financial topics are highlighted in that format.
Individuals who hold the CIC charter tend to be among the financial world's major players, such as those who manage large accounts and mutual funds.
Certified Investment Management Analyst –CIMA
The Certified Investment Analyst (CIMA) designation focuses on asset allocation, ethics, due diligence, risk measurement, investment policy, and performance measurement. As this certification signifies a high level of consulting expertise, only individuals who are investment consultants with at least three years of professional experience are eligible to try for the CIMA. The Investment Management Consultants Association offers CIMA courses.
Individuals who hold CIMA designations are required to prove their expertise through continual recertification, which requires CIMA designees to complete at least 40 hours of continuing education every two years.
CIMA designation holders tend to have careers with financial consulting firms, which involve extensive interaction with clients and managing large accounts.