Industry Globalization and Demand for CFA Charter Driving Growth
The Association for Investment Management and Research has announced that it's membership has surpassed the 50,000-member mark as a result of globalization in the financial services industry and the demand for its chartered financial analyst education and examination program.
AIMR, which is dedicated to establishing global standards and practices, was founded in 1990 through the alliance of two groups; the Financial Analysts Federation and the Institute of Chartered Financial Analysts. The organization started with just 19,000 members in 25 countries.
AIMR now has members in 101 countries, according to Thomas Bowman, AIMR's president and CEO. 'Anyone with an interest in efficient, fair and transparent markets can be encouraged by the growth in AIMR membership,' he said. 'Every single AIMR member must abide by the AIMR Code of Ethics and Standards of Professional Conduct which require us to put the best interests of our investing clients above our own. All 50,000 members are required every year to affirmatively restate that commitment and to disclose any formal professional complaints that have been filed against them.'
The organization's CFA curriculum and exam is a self-study program that takes a minimum of three years to complete. Each year of the program, aspiring members must successfully pass a six-hour exam.
Earlier this year, 86,421 securities analysts, money managers, investment advisors and students registered for the program, setting an organization record. Nearly 7,000 new members are expected to be added to AIMR's membership list this year.
Shaun Curry, a pan-European equity sales trader with Credit Suisse First Boston, became the organization's 50,000th member.
AIMR has offices in Charlottesville, Va. and Hong Kong. The organization is planning to open an office in London sometime in the next month.