IMCA Unveils "Value of CIMA Certification Study" at 2013 Annual Conference

DENVER, April 29, 2013 /PRNewswire/ -- Investment Management Consultants Association^® (IMCA^®) today introduced the "Value of CIMA^® Certification Study"—new research outlining what top-performing advisors and teams have in common—at its 2013 Annual Conference in Seattle.

Aite Group, a leading independent financial services research firm, conducted the study on IMCA's behalf and will present the findings to conference attendees tomorrow. The research was based on a survey of more than 600 financial advisors and focused on two advisor groups—CIMA professionals and financial advisors working with individuals and families who represent the general financial advisor population in the United States. The results have a strong confidence level (95 percent) and low margin of error (5 to 7 percent).

With multiple professional certifications available to financial advisors, the Aite Group research found that in relation to other designations, CIMA professionals:

• Earn significantly more than other financial advisors
• Manage a larger share of client assets
• Witness stronger revenue and fee-based asset growth
• Express greater satisfaction with their careers 

"With empirical evidence, the Aite Group study gives credence to what our members have known for years: Obtaining the CIMA certification leads to greater knowledge and confidence as an investment advisor," said Sean R. Walters, CAE, IMCA's executive director and CEO. "We're very pleased the research shows that even after adjusting for experience or other designations held, CIMA-certified professionals earn significantly higher income and gain more career satisfaction than other advisors."

The CIMA Difference in Compensation, Practice Management, and Client Base

Regarding compensation, the survey found that one-third of CIMA professionals earn more than $380,000—and 62 percent earn more than $215,000—compared to just 6 percent and 18 percent, respectively, for other advisors. This earning differential is unchanged when non-CIMA advisors have other prominent industry certifications or by years of industry experience, according to Aite.

In addition to higher compensation and greater career satisfaction, other key findings show that CIMA professionals:

• Advise more profitable clients. Both solo and team practices with CIMA professionals manage twice the assets per client and generate twice the revenue per client compared to other practices.
• Capture additional assets. Seventy percent of practices with a CIMA professional attract 75 percent or more of their clients' investment assets.
• Advise more affluent clients. Fifty-two percent of practices with more than one CIMA professional advise high-net-worth ($1 million to $9.99 million) and ultra-high-net-worth ($10 million or more) clients.
• Are part of an experienced group. Eighty-four percent of CIMA professionals have 10 or more years of experience as financial advisors.
• Possess important institutional expertise. Having more than one CIMA professional in a practice tends to open up the business to institutional clients (foundations, endowments, and 401(k) plans); multi-CIMA certificant practices focus about 13 percent of their business on institutional clients.
• Have ownership in their practice. Eighty-four percent of CIMA professionals are practice owners or team leaders compared to 57 percent of other financial advisors.

Visit http://www.imca.org/pages/value-CIMA-Certification for more information, including a white paper, presentation deck, and archived webinar.

About IMCA

Established in 1985, IMCA is a nonprofit professional association and credentialing organization with more than 9,000 individual members. IMCA members collectively manage more than $1.9 trillion, providing investment consulting and wealth management services to individual and institutional clients. Since 1988, IMCA has offered the Certified Investment Management Analyst^® (CIMA^®) certification, which earned accreditation by the American National Standards Institute (ANSI) in April 2011, making it the first financial services credential in the United States to meet international standards (ISO 17024) for personnel certification. IMCA's Certified Private Wealth Advisor^® (CPWA^®) certification is suited for wealth management professionals working with high-net-worth clients. In 2012, IMCA conferences and workshops hosted approximately 4,000 attendees.

About Aite Group

Aite Group is an independent research and advisory firm focused on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, wealth management, capital markets, and insurance, Aite Group's analysts deliver comprehensive, actionable advice to key market participants in financial services. Headquartered in Boston with a presence in Chicago, New York, San Francisco, London, and Milan, Aite Group works with its clients as a partner, advisor, and catalyst, challenging their basic assumptions and ensuring they remain at the forefront of industry trends.

IMCA^® and Investment Management Consultants Association^® are registered trademarks of Investment Management Consultants Association Inc. CIMA^®, Certified Investment Management Analyst^®, CIMC^®, CPWA^®, and Certified Private Wealth Advisor^® are registered certification marks of Investment Management Consultants Association Inc. Investment Management Consultants Association Inc. does not discriminate in educational opportunities or practices on the basis of race, color, religion, gender, national origin, age, disability, or any other characteristic protected by law.

CONTACT

Ryan Hoffman
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SOURCE IMCA