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|Financial Analysts Journal|
CFA Institute is a global association of investment professionals.
The organization offers the Chartered Financial Analyst (CFA) designation, the Certificate in Investment Performance Measurement (CIPM) designation, as well as the Claritas Investment 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 offices are located in New York City, London, Hong Kong, and Charlottesville, Virginia USA.
In 1947, four financial analyst societies—Boston, Chicago, New York, and Philadelphia—joined forces for the purpose of promoting the exchange of ideas and supporting the welfare of the financial analysts’ profession. In 1962, a cadre of these financial analysts created the Chartered Financial Analyst (CFA) designation and established a code of conduct. In 1963, the profession was formalized when 284 candidates sat for the first CFA exam and 268 CFA charters were awarded.
The discussion that began in North America in the 1940s has resulted in more than 120,000 CFA Charters awarded since the inception of the CFA program. CFA Institute has more than 110,000 members in 140 countries and territories, and 137 member societies in 60 countries.
Charters and Designations
The CFA is a professional designation which is offered by the CFA Institute. The CFA is a charter and not a certification. The CFA designation is not a degree or diploma. The CFA Institute does not offer a degree or diploma, but rather works with degree granting and accredited educational institutions worldwide.
The largest of CFA Institute's member societies are:
- New York: Over 8,500 members
- Toronto: Over 7,500 members
- United Kingdom: Over 8,000 members
- Hong Kong: Over 5,000 members
- Boston: Over 5,000 members
- Chicago: Over 3,500 members
- San Francisco: Over 3,000 members
- Singapore: Over 2,500 members
Florida has the largest number of societies (six), followed by California and Ohio with five each. The oldest society, was founded in 1925, is in Chicago. The newest society, was admitted in August 2012, is Nigeria.