|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, and 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.
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. In 2004, the Association for Investment Management and Research voted to change its name to the CFA Institute.
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.
The largest of CFA Institute's member societies are:
- New York: Over 15,500 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
- Los Angeles: Over 2,000 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.