The CFA Institute is a global, not-for-profit professional organization that provides investment professionals with finance education. The institute aims to promote standards in ethics, education, and professional excellence in the global investment services industry. Since 1945, the institute has published the
peer-reviewed
Peer review is the evaluation of work by one or more people with similar competencies as the producers of the work (peers). It functions as a form of self-regulation by qualified members of a profession within the relevant field. Peer review ...
, quarterly journal, the ''
Financial Analysts Journal
The ''Financial Analysts Journal'' is a quarterly peer-reviewed academic journal covering investment management, published by Routledge on behalf of the CFA Institute. It was established in 1945 and , the editor-in-chief is William N. Goetzmann.
...
''. It also publishes the ''CFA Digest'' and the ''CFA Magazine''.
Structure
The organization offers the
Chartered Financial Analyst (CFA) designation, the
Certificate in Investment Performance Measurement
The Certificate in Investment Performance Measurement (CIPM) is a professional accreditation in the field of investment performance analysis. It includes investment performance measurement and attribution. It is offered by the CIPM Association, a ...
(CIPM), the Certificate in
ESG Investing
Environmental, social, and governance (ESG), is a set of aspects, including environmental issues, social issues and corporate governance that can be considered in investing. Investing with ESG considerations is sometimes referred to as ''resp ...
, and until December 2021, the Investment Foundations Certificate. It provides continuing education conferences, seminars, webcasts, and publications to allow members and other participants to stay current on developments in the investment industry. CFA Institute also oversees the
CFA Institute Research Challenge for university students and the Research Foundation of CFA Institute.
CFA Institute is headquartered in
Charlottesville, Virginia
Charlottesville, colloquially known as C'ville, is an independent city in the Commonwealth of Virginia. It is the county seat of Albemarle County, which surrounds the city, though the two are separate legal entities. It is named after Queen Ch ...
,
United States, with additional offices in
New York City,
Washington, D.C.,
London,
Hong Kong,
Mumbai,
Beijing,
Shanghai and
Abu Dhabi
Abu Dhabi (, ; ar, أَبُو ظَبْيٍ ' ) is the capital and second-most populous city (after Dubai) of the United Arab Emirates. It is also the capital of the Emirate of Abu Dhabi and the centre of the Abu Dhabi Metropolitan Area.
...
. The current President and CEO is
Margaret Franklin Margaret Franklin, CFA, is CEO and President of the CFA Institute. Franklin is the first woman to hold this role.
She assumed this role in September 2019 and leads the organization in promoting the highest standards of education, ethics, and profes ...
.
History
In 1947, four financial analyst societies—
Boston,
Chicago,
New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
, and
Philadelphia — cooperated for the purpose of promoting the exchange of ideas and supporting the welfare of their profession, calling the new group the National Federation of Financial Analysts Societies (NFFAS).
In 1959, the NFFAS Board of Directors approved the establishment of the Institute of Chartered Financial Analysts (ICFA), which was incorporated in 1962.
NFFAS changed its name to the Financial Analysts Federation (FAF) in 1961.
In 1962, the
Chartered Financial Analyst (CFA) designation and
code of conduct were established. In 1963, the profession was formalized when 284 candidates sat for the first CFA exam and 268 CFA charters were awarded.
The following year, all 3 levels of the exam were administered to more than 1,700 candidates.
The Association for Investment Management and Research (AIMR) was founded in 1990 as the umbrella organization for the ICFA and the FAF, still separate entities at that time. ICFA and the FAF consolidated under AIMR in 1999.
In 2004, the Association for Investment Management and Research voted to change its name to the CFA Institute.
In February 2019,
The United States Department of Justice announced it will fine CFA Institute more than $320,000 for discriminating against qualified American workers by hiring temporary foreign workers through the H-1B visa program.
Given the
COVID-19 pandemic, CFA Institute has cancelled the majority of the examinations around the world due to the lack of examination facilities in 2020. From 2021 onwards, all examinations were shifted to
computer-based testing for the three levels of the CFA program.
In March 2021, CFA Institute launched the Certificate in ESG Investing due to the increasing importance of
environmental, social and corporate governance (ESG) factors in
socially responsible investing.
References
External links
*
About the CFA Institute and Charter
{{Authority control
Analyst societies
Business and finance professional associations
Companies based in Virginia
Organizations established in 1947