Financial Consultants

Certification or Licensing

Becoming certified is an excellent career move for consultants. It shows that you have met the knowledge requirements established by your industry. Those who are certified often increase their chances of landing a job and earning higher pay. The Institute of Management Consultants USA offers the certified management consultant designation to those consultants who pass a two-part examination, meet minimum educational and experience requirements, and who agree to meet continuing education requirements. Consultants can also earn the chartered financial analyst (CFA) credential, which is administered by the CFA Institute. The CFA charter is recognized around the world as a standard in the finance industry.

Many financial consultants have accounting backgrounds, and some have earned the certified public accountant (CPA) designation. CPAs must pass a qualifying examination and hold a certificate issued by the state in which they wish to practice. The Uniform CPA Examination, which is administered by the American Institute of Certified Public Accountants, is used by all states. Nearly all states require at least two years of public accounting experience or the equivalent before a CPA certificate can be earned. Check with your state's board of accountancy or the Association of International Certified Professional Accountants (AICPA) Web site (https://www.thiswaytocpa.com) for CPA requirements for your state. In 2024, the AICPA launched a revised CPA examination. Candidates must complete three core sections: Auditing and Attestation, Financial Accounting and Reporting, and Taxation and Regulation. Then they select one discipline from the following categories: Business Analysis and Reporting, Information Systems and Controls, and Tax Compliance and Planning. The AICPA says that "new content has also been added throughout the exam to test on relevant topics of emerging technology and financial planning." Visit https://www.aicpa-cima.com/resources/download/learn-what-it-takes-to-become-a-cpa to learn more about the examination.

Other certification opportunities are provided by the Institute of Management Accountants, Global Academy of Finance & Management, Institute for Professionals in Taxation, and the Investments and Wealth Institute.