The CFA charter is an investment analysis credential from CFA Institute, earned by passing three exams in order and completing 4,000 hours of investment work.
Candidates pass three exams, covering investment analysis, portfolio management and professional ethics, and complete at least 4,000 hours of relevant work experience over no fewer than 36 months. They then join CFA Institute as a regular member, with two or three professional references.
To keep using the designation, a charterholder renews membership every year: they pay dues and file a Professional Conduct Statement confirming they follow CFA Institute's Code of Ethics and Standards of Professional Conduct. A member who doesn't file it is suspended and loses the right to use the CFA designation. There is no required continuing education.
The charter goes deep on securities and portfolios and says little about Social Security, insurance or estate plans. It doesn't say how someone is paid, and its Code of Ethics is a professional standard that CFA Institute enforces, not a legal fiduciary duty. In the public graph, 2,456 fee-only advisors list a CFA (10%), second only to the CFP.
How to check
Search the person's name in CFA Institute's Member Directory. Someone whose membership has lapsed may not appear, and can't use the designation until it is reinstated.
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