Chartered Wealth Manager
Chartered Wealth Manager is a designation awarded by the CISI to recognise senior members in the retail sector at the pinnacle of their profession.
Chartered status is the mark of an up to date, experienced and qualified financial industry professional. The Chartered Wealth Manager status is separate from CISI membership designations and should be added underneath your name on business cards and letterheads; it will formally demonstrate your professional competence to employers, colleagues and customers, e.g:
John Smith FCSI
Chartered Wealth Manager
The CISI is pleased to be able to offer this designation to Members and Fellows who meet the criteria, which is summarised below:
*CPD must be logged on the CISI’s RDR scheme or your firm’s scheme must have been formally accredited by the Institute. Approved CPD year must directly proceed your application.
Window of opportunity
There is currently a window of opportunity for members with a Level 6 Wealth Management qualification to gain Chartered Wealth Manager status and we encourage those who meet the requirements above to apply before the 31 March 2014 deadline**.
**From 1 April 2014, those members who wish to apply and be awarded the designation Chartered Wealth Manager must possess the CISI Level 7 Diploma / Masters in Wealth Management qualification together with the criteria in 2 - 4.
Benefits of Chartered Wealth Manager status
Once approved you will be entitled to use the professional designation Chartered Wealth Manager on your business cards. You will become part of an elite group of CISI Chartered Wealth Managers, similar in standing as other Chartered professionals with a specific occupational role, such as Chartered Surveyors.
Chartered professionals are better placed to command higher salaries and the professional designation will set you apart from competitors. The implementation of the RDR has improved professional standards across the industry; this designation enables those who meet the criteria to formally confirm their expertise and stand out from the crowd.
For firms, having employees with Chartered Wealth Manager status demonstrates that staff are working at the highest standards in wealth management and the organisation is committed to professionalism and high standards of integrity and ethical behaviour
Applicants will be awarded the designation Chartered Wealth Manager by:
- possessing a level 6* or above, as defined by Ofqual, Wealth Management qualification, which is recognised by the UK Regulator (FCA), i.e. on the RDR approved qualifications list; and
- being a voting member of the CISI, at MCSI, Chartered MCSI, FCSI, or Chartered FCSI level and having held MCSI (or above) membership for a minimum of one year (note MCSI is the highest level of direct entry to the CISI and the other membership grades can be accessed by meeting additional criteria once MCSI is conferred); and
- passing the CISI’s IntegrityMatters with an ‘A’ grade (the benchmark for all Charter holders); and
- completing one year of verifiable RDR equivalent CPD (35 hours, minimum 21 hours structured learning). CPD must be logged using the CISI RDR Scheme, or any firm's internal scheme that has been accredited by the CISI. Alternatively applicants not subject to the RDR requirements, including international applicants, can complete one year of verifiable CPD logged using the CISI CPD Scheme.
- The designation is also open to suitably qualified applicants not subject to the RDR requirements, including international applicants.
- Applications that do not meet all the requirements will not be accepted.
- During the window of opportunity, applicants who meet the criteria aside from attaining the year of MCSI membership, will be eligible to gain the status provided the year of MCSI membership is completed prior to 31 March 2015.
- * From 1 April 2014, those members that wish to apply and be awarded the designation Chartered Wealth Manager must possess the CISI Level 7 Diploma / Masters in Wealth Management qualification together with the criteria in 2 - 4.
View the full policy for obtaining and maintaining Chartered Wealth Manager
Members who meet the qualifying criteria may apply for Chartered Wealth Manager status by completing the Chartered Wealth Manager designation application form
There is a charge of £36 (including VAT)
for this designation and once your application is approved by the CISI you will be sent a certificate. Please note
the CISI may take up to 15 days
to process a Chartered Wealth Manager application.
Approved Qualifications ( Until 31 March 2014)
Qualifications on the FCA
list of appropriate qualifications and listed by Ofqual
as level 6:
|CFA Institute/CFA UK
||Chartered Financial Analyst - CFA
||Advanced Diploma in Financial Planning
||CISI Level 6 PCIAM stand-alone qualification or the individual PCIAM SII Diploma module
||CISI Diploma (includes RDR compliant qualification and required Gap-fill)
||Level 7 Diploma/Masters in Wealth Management
||A pass in both Techniques of Investment (TOI) and Stock Exchange Practice (SEP)
||A minimum of three papers , including one of Techniques of Investment (TOI) or Stock Exchange Practice (SEP), along with Interpretation of Company Accounts (ICA)
International Qualifications that will be accepted:
||CIIA - Certified International
|AIWM & BBA(UK)
||CIWM - Certified International Wealth Manager
||EFP - European Financial Planner Certification when
combined with an undergraduate degree in a mathematics,
investment or economics based discipline
||PDFM - Professional Diploma in Financial Markets
||DPE - Diploma Programme Examination
(replaced by PDFM in July 09)
|Norwegien Society of
|Authorised Financial Analyst - AFA
||CMA - Chartered Member of the Securities Analysts
Association of Japan
Qualifications not listed by Ofqual
but deemed to be level 6 as they are postgraduate qualifications listed by the FCA:
- MSC Finance University of Stirling
- MSC International Accounting & Finance University of Stirling
- MSC Investment Analysis University of Stirling
- MA Financial Services Sheffield Hallam (1995-2001)
- Postgraduate in Financial Services Sheffield Hallam (1995-2001)
- MA Financial Services University of the West of England (1995-2001)
- Postgraduate in Financial Services University of the West of England (1995-2001)
- MA in Financial Services University of Bournemouth (1995-2001)
- Postgraduate in Financial Services University of Bournemouth (1995-2001)
Other qualifications on the FCA's list where the awarding organisation can make a case for the qualifications being at Level 6 are on application by the awarding organisation
until 31 March 2014.