CFA Institute

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CFA Institute
CFA Institute Logo.png
Region served
over 142,000[2]
Official language
Heather Brilliant, CFA[3]
Paul Smith, CFA[4]
Main organ
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 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.[5][6]

In 2019, it was fined $320,000 for unauthorized hiring of foreign workers rather than employing Americans.

CFA Institute offices are located in New York City, London, Hong Kong, Mumbai, Toronto, and Charlottesville, Virginia, USA.


In 1947, four financial analyst societies—Boston, Chicago, New York, and Philadelphia—cooperated for the purpose of promoting the exchange of ideas and supporting the welfare of their profession. In 1962, some 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.[7][8] In 2004, the Association for Investment Management and Research voted to change its name to the CFA Institute.[9]

Since then, almost 200,000 CFA Charters have been awarded.[citation needed] CFA Institute has more than 164,000 members in 164 markets, and 156 local member societies.[8]

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 foreign workers imported through the H-1B visa program.[10]

Historical logo

Member societies[edit]

The largest CFA Institute member societies are:[citation needed]

Florida has the largest number of societies (six), followed by California and Ohio with five each. The oldest society, which was founded in 1925, is in Chicago. The newest society, which was admitted in August 2012, is in Nigeria.[citation needed]

See also[edit]


  1. ^ Huang, Daniel (10 June 2014). "CFA Institute Chief Departs After Disclosing Relationship" – via Wall Street Journal.
  2. ^ "Research & Data".
  3. ^ "Leadership".
  4. ^ Burr, Barry B. (20 January 2015). "CFA Institute names new president, CEO".
  5. ^ "CFA Institute Research Foundation". CFA Institute. Retrieved 7 July 2019.
  6. ^ "Research Challenge". CFA Institute. Retrieved 7 July 2019.
  7. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2016-06-16. Retrieved 2014-11-08.CS1 maint: archived copy as title (link)
  8. ^ a b "CFAI Annual Report 2018". CFA Institute. 2018. Retrieved 2 June 2019.
  9. ^ "AIMR Changes Name to CFA Institute :". Archived from the original on 2017-10-06. Retrieved 2014-11-08.
  10. ^ Binder, John (2019-02-27). "DOJ Fines Virginia Firm for Hiring Foreigners over Qualified Americans". U.S. Tech Workers. Retrieved 2019-06-02.

External links[edit]