AAFM Announces launch of CWMI

11 June 2013 – AAFM announces with great pleasure, the establishment of the Chartered Wealth Manager Institute (CWM Institute).

Globally, the wealth management industry is growing at a rapid pace. In Asia, the development of the wealth management industry is the fastest in the world. Today, both practitioners and clients are now expecting more from their wealth managers. While this is healthy and encouraging, there is also a need for a more focused, structured and disciplined platform for professional development.

In response to the demands of wealth managers, the Board of Standards of the American Academy of Financial Management has established the CWM Institute to ensure a dedicated continuing professional development platform for wealth managers.

To ensure alignment and the utmost integrity with global best practices in awarding professional designations, the CWM Institute will have these 5 pillars of professional standards:

1. Wealth Manager Capability Framework. CWM Institute has conducted an exhaustive research on best practices with leading private, priority and retail banks, as well as insurance and financial advisory organizations. The result is a comprehensive capability framework for today’s wealth manager.

2. Board of Standards. For over a decade, our world-class board and council has been assembled to advise on the capability framework, course curriculum design and examination questions bank.

3. Centralized Examination and Assessment. Any new CWM candidate is required to take and pass an updated centralized examcontrolled by the Board of Standards, and administered by CWMI.

4. CWM Exam-Preparatory Courses. We will continue to offer CWM courses in both public programs, as well as in-house trainings. The updated CWM course provides a strong foundation for participants to take the exam. Most importantly, the course is designed by leading practitioners and combines training for technical knowledge, technical skills and advisory skills.

5. Licensed Training Providers and Accredited Trainers. In order to ensure consistency and quality in training delivery, the CWM Institute has established a strict licensing criteria for training providers. Further, all trainers must go through a rigorous and accreditation process. Currently, there are 6 accredited training providers in Asia and 11 accredited trainers, covering both technical and advisory topics.

The good news for existing Chartered Wealth Manager (CWM) professionals, the CWM professional designation is fully recognized and they are automatically members of the CWM Institute. Existing CWMs are provided with a 1 (one) year free membership, and are welcomed to participate in all activities and functions organized by the CWM Institute. The CWMI will also be rolling out various benefits for members in the coming months.

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