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EARNING THE CFA CHARTER
Marcelo Suárez Castillo, CFA
19 August 2014
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Global association of investment professionals
dedicated to promoting the highest standards of
ethics, education, and professional excellence
for the ultimate benefit of society
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CFA INSTITUTE ORGANIZATIONAL PILLARS
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• Championing ethical behavior in investment markets
Ethical Champion
• Creating a strong community of investment professionals
Global Community
• Being a respected source of knowledge in investment markets
Industry Knowledge
• Raising standards of professional excellence in the industry
Professional Excellence
• Build an investment industry that serves the interests of investors and society
The Greater Good
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CFA INSTITUTE PORTFOLIO
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CFA ® Program
Claritas™ Investment Certificate
MyCFA and Blogs
Educational Events, Publications, and Multimedia
Career Resources
Ethics and Standards
CIPM® Program
Local CFA Institute Society Network
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CELEBRATING 50 YEARS OF THE CFA CHARTER
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34.4 million people in the finance industry
2.7 million investment professionals
4% of investment professionals are
CFA charterholders
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THE CFA CHARTER
A mark of distinction and globally recognized professional
credential in the finance and investment industry.
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“Among the countless finance degrees around the world,
the Chartered Financial Analyst qualification has become
the gold standard.”
Financial Times
13 August 2010
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THE CFA CHARTER
If you are looking for a passport to the world of finance and
investing, earning the CFA charter could be the most
important move you make in your career.
• Held by over 115,000 investment professionals working in more
than 130 countries
• Recognized by regulatory bodies in many countries as a proxy for
meeting certain licensing requirements
• 140 universities around the world incorporate the CFA curriculum
into their degree programs
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GROWING DEMAND FOR
THE CFA CHARTER
Candidate exam registration
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0
50,000
100,000
150,000
200,000
250,000
1996 1998 2000 2002 2004 2006 2008 2010 2012
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EMPLOYERS SEEK OUT
THE CFA CHARTER
“You have, or are in the final year of [earning], your CFA designation”
Equity Research Associate, Bank of America Merrill Lynch, 2010
“Enrollment in, or completion of, a CFA designation [program] would
be an asset”
Investment Banking Analyst, Goldman Sachs, 2010
“Completed [the CFA Program] or working towards CFA designation is
advantageous”
Analyst, BlackRock, 2010
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* Listings from CFA Institute JobLine
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TOP GLOBAL EMPLOYERS OF
CFA CHARTERHOLDERS
*As of September 2012
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WHAT CAN I DO WITH
THE CFA CHARTER?
Charterholder employment by sector
*As of September 2012
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WHAT CAN I DO WITH
THE CFA CHARTER?
Charterholder employment by title
*As of September 2012
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WHAT YOU LEARN AS A CFA CHARTERHOLDER
Investment Tools
• Quantitative Methods
• Economics
• Financial Reporting & Analysis
• Corporate Finance
Asset Classes
• Equity Investments
• Fixed Income
• Derivatives
• Alternative Investments
Portfolio Management & Wealth Planning
• Private Wealth Management
• Institutional Management
• Risk Management
• Performance Measurement & Evaluation
Ethics &
Professional
Standards
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THE THREE LEVELS OF THE CFA EXAMS
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THE CFA EQUATION
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WITH THE CFA CHARTER, YOU …
• Develop a comprehensive investment perspective
• Gain fluency with current practical investment analysis and management
• Earn credibility with industry peers
• Become part of a global community of top investment professionals
• Gain flexibility to work in any market
• Are sought out by top industry employers
• Demonstrate a commitment to ethics and professional standards
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www.cfainstitute.org/cfaprogram
BECOME A CFA CHARTERHOLDER
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• Put client interests first.
• Preserve confidentiality.
• Avoid, or at the very least, manage conflicts of interest.
• Provide full and fair disclosure.
• Treat all clients fairly.
• Act with reasonable care and prudent judgment.
• Maintain independence and objectivity.
• Source: Michael G. McMillan, CFA. Director, Ethics and Professional Standards. CFA Institute.
“Ethical Decision Making.” CFA Institute Conference Proceedings Quarterly. December 2012
ETHICAL PRINCIPLES
Effective
Thinking about
Honesty,
Integrity,
Character, and
Suitability
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WHAT IS THE CFA CHARTER?
• Since 1963, the CFA (Chartered Financial Analyst)
Charter has been recognized as the top globally recognized investment credential since 1963
• Deemed the “gold standard” by industry leaders and employers
• A designation held by over 90,000 investment professionals in more than 135 countries
• Top employers
- Regulators in 19 countries recognize the charter as a proxy for certain licenses
If you’re looking for a passport to the world of investment and finance, earning the CFA charter could be the most important move you make in your career.
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WHAT IS THE CFA INSTITUTE RESEARCH
CHALLENGE?
How is it organized?
• Worldwide intercollegiate competition
between teams of students
• Organized by local CFA Institute
volunteers – usually through CFA
member societies
• At least 4 teams of 3-5 students
participate
What does it involve?
• Analysis of a publicly-traded company
• Interviews with company management
• Mentoring by a CFA charterholder
• Research report writing
• Presentation of research
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2015 CHALLENGE DIAGRAM
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90+ LOCAL LEVEL CHALLENGES
AP
Regional
~20 Teams
EMEA
Regional
~25 Teams
Americas
Regional
~48 Teams
Global Final
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BENEFITS FOR STUDENTS
• Best practices in research and report writing
• Real-life learning experience as an Equity Analyst
• Access and exposure to leading industry
professionals
• Professional report and experience to use on
resume/CV and job interviews
• Experience presenting to top financial
professionals
• Individual and team prizes
• Opportunity for travel
• Potential for media exposure
• A network of over 10,000 students and 2,200
volunteers worldwide
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2015 RESEARCH CHALLENGE NETWORK
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