CFA DISCLAIMER
CFA Institute does not endorse, promote or warrant the accuracy or quality of Osborne Partners Capital Management LLC. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
CFP BOARD DISCLOSURE
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP(with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
CHARTERED FINANCIAL ANALYST (CFA®)
The Chartered Financial Analyst (CFA) charter is a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals.
CFA Institute does not endorse, promote or warrant the accuracy or quality of Osborne Partners Capital Management LLC. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. Chartered Financial Analysts are licensed by the CFA Institute to use the CFA mark. CFA certification requirements:
- Pass three sequential, six-hour examinations
- Have at least four years of qualified professional investment experience
- Join CFA Institute as members
- Commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional
High Ethical Standards
The CFA Institute Code of Ethics and Standards of Professional Conduct, enforced through an active professional conduct program, require CFA charterholders to:
- Place their clients’ interests ahead of their own
- Maintain independence and objectivity
- Act with integrity
- Maintain and improve their professional competence
- Disclose conflicts of interest and legal matters
Global Recognition
Earning the CFA charter demonstrates mastery of many of the advanced skills needed for investment analysis and decision making in today’s quickly evolving global financial industry. Regulatory bodies in 23 countries/territories recognize the CFA charter as a proxy for meeting certain requirements, and more than 125 colleges and universities around the world have incorporated a majority of the CFA Program curriculum into their own finance courses.
Comprehensive and Current Knowledge
The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision making and is firmly grounded in the knowledge and skills used every day in the investment profession. The three levels of the CFA Program test a proficiency with a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed-income and equity analysis, alternative and derivative investments, economics, financial reporting standards, portfolio management, and wealth planning.
The CFA Program curriculum is updated every year by experts from around the world to ensure that candidates learn the most relevant and practical new tools, ideas, and investment and wealth management skills to reflect the dynamic and complex nature of the profession. To learn more about the CFA charter, visit www.cfainstitue.org
CERTIFIED FINANCIAL PLANNER™ (CFP®)
The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its
(1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients.
Certified Financial Planner Board of Standards, Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete the CFP Board’s initial and ongoing certification requirements. CFP certification requirements:
• Bachelor’s degree from an accredited college or university.
• Completion of the financial planning education requirements set by the CFP Board (www.cfp.net).
• CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning;
• Examination – Pass the comprehensive CFP® Certification Examination. The examination includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances;
• Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and
• Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals.
• Successfully pass the Candidate Fitness Standards and background check.
Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks:
• Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and
• Ethics – Renew an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their clients.
CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification.
CERTIFIED INVESTMENT MANAGEMENT ANALYST® (CIMA®)
The CIMA® is a professional designation representing completion of a comprehensive course consisting of financial education, examinations and practical experience. Those who earn the designation are understood to be knowledgeable in financial matters and to have the ability to provide objective advice and guidance to both individual and institutional investors. The CIMA certification signifies that an individual has met initial and ongoing experience, ethical, education, and examination requirements for investment management consulting, including advanced investment management theory and application. To earn CIMA certification, candidates must: submit an application, pass a background check and have an acceptable regulatory history; pass an online Qualification Examination; complete an in-person or online executive education program at an AACSB accredited university business school; pass an online Certification Examination; and have an acceptable regulatory history as evidenced by FINRA Form U-4 or other regulatory requirements and have three years of financial services experience at the time of certification.
CIMA certificants must adhere to IMCA’s Code of Professional Responsibility, Standards of Practice, and Rules and Guidelines for Use of the Marks. CIMA designees must report 40 hours of continuing education credits, including two ethics hours, every two years to maintain the certification. The designation is administered through Investment Management Consultants Association (IMCA).
CHARTERED FINANCIAL CONSULTANT® (ChFC®)
A Chartered Financial Consultant is a professional designation representing the completion of a comprehensive course consisting of financial education, examinations, and practical experience. Chartered Financial Consultant designations are granted by the American College upon completion of seven required courses and two elective courses. To be considered for the program, the applicant must already have a minimum of three years working full-time in the financial industry. Those who earn the designation are understood to be knowledgeable in financial matters and to have the ability to provide sound advice. Those who have received this credential may work with individuals to assist them with retirement savings, in particular for early retirement, and budget planning, or with companies to assess their investment strategies.
Once the ChFC® designation has been earned, there is also a requirement for continuing education credits to maintain the credential. Holders of the ChFC® designation must complete 30 hours of continuing education every two years to maintain the designation, as well as adhering to The American College Code of Ethics and Procedures.
Equity Compensation Associate (ECA)
The Certified Equity Professional Institute (CEPI), at Santa Clara University, is the only certification body for equity compensation professionals. The ECA Exam teaches the fundamentals in equity compensation. Candidates are introduced to the terminology and are given a basic understanding of policy, procedures and routine transactions. Fundamentals covered in the Equity Compensation (ECA Exam) include: A basic understanding of corporations and the frameworks for corporate governance and finance; An understanding of why corporations use equity compensation; The ability to differentiate between types of equity compensation; A working knowledge of equity compensation terminology; A familiarity with the basic procedures necessary to effectively administer an equity compensation program; The ability to read and interpret plan documents.
Series 65
The Series 65 is a “criterion based” minimum competency examination. The exam is administered to professionals within the investment industry. The Series 65 exam covers laws, regulations, ethics, and knowledge on specific investment products. The exam focuses on topic areas that are important for an investment advisor to know when providing investment advice. These areas include topics such as retirement planning, portfolio management strategies, and fiduciary obligations. The exam is administered by the Financial Industry Regulatory Authority (FINRA).
Series 66
The Series 66 is the Uniform Combined State Law Exam and administered by the Financial Industry Regulatory Authority (FINRA). It is designed to qualify candidates as both securities agents and investment advisor representatives. Successful completion of the Series 66 exam is equivalent to successful completion of both the Series 63 and Series 65 exams.
Series 63
The Series 63 exam is designed to qualify candidates as securities agents. The exam covers the principles of state securities regulation reflected in the Uniform Securities Act (with the amendments adopted by NASAA and rules prohibiting dishonest and unethical business practices). The exam is intended to provide a basis for state securities administrators to determine an applicant’s knowledge and understanding of state law and regulations.
Enrolled Agent
An enrolled agent is a federally authorized tax adviser who has earned the privilege of representing taxpayers before the IRS by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. This includes audits, collections and appeals. Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years.
Enrolled agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights. This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before.