The CPWA is an advanced certification from the Investments & Wealth Institute for advisors who serve high-net-worth clients, covering estate planning, wealth transfer, tax and family dynamics.
Candidates need a bachelor's degree or another credential (CIMA, RMA, CFA, CFP, ChFC, or a CPA license), five years of experience in financial services, and a background check. They complete about six months of education through a registered provider, Chicago Booth or Yale School of Management, then pass a four-hour, 135-question exam.
To keep it, certificants complete 40 hours of continuing education every two years, including two hours of ethics and one of tax or regulation, and agree to the Institute's Code of Professional Responsibility.
The CPWA is one of the more demanding credentials for complex households, but it says nothing about how someone is paid or whether they're a fiduciary. In the public graph, 38 fee-only advisors list a CPWA.
How to check
Ask the advisor for the link to their digital CPWA badge: its verification page shows the credential and whether it is current. You can also contact the Investments & Wealth Institute. Check their registration on the SEC's Investment Adviser Public Disclosure site separately.
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