Mutual Fund Portfolio Managers

Certification or Licensing

Many portfolio managers earn the chartered financial analyst (CFA) credential, which is offered by the CFA Institute. The CFA program has three levels of examinations and measures the candidate’s ability to apply the fundamental knowledge of investment principles at the professional level. To enroll in the program, applicants must meet one of the following criteria:

• have completed a bachelor’s program or equivalent program and received a degree
• be a current university student who is within 23 months from completing their undergraduate degree
• have a combination of 4,000 hours of work experience and/or college/university education that was acquired over a minimum of three sequential years and achieved by the date of enrolling for the Level I exam

Portfolio managers are typically required to obtain their Series 7 and Series 63 or 66 credentials from the Financial Industry Regulatory Authority, the self-regulatory arm of the investment industry. The Series 7, or General Securities Representative certification, allows you to buy or sell, or solicit the purchase or sale, of all securities products, including corporate securities, municipal securities, municipal fund securities, options, direct participation programs, investment company products, and variable contracts. It’s the most basic form of certification for anybody involved with the markets. The majority of firms will also require a Series 63 (Uniform Securities Agent State Law) registration, which requires knowledge of state securities laws and allows you to be a securities agent. Other firms may require the Series 66 (Uniform Combined State Law), which covers the same ground as a Series 63, but also certifies you to act as a registered investment adviser.