Wealth Management Managing Directors

Certification or Licensing

Managing directors do not need to be certified, but many employers require those in lower-level positions to be certified. With competition extremely strong for jobs, it’s a good idea to earn a certification or two to increase your attractiveness to potential employers. Many organizations offer certification to wealth management professionals, including:

• Association of International Wealth Management (certified international wealth manager diploma)
• Chartered Alternate Investment Analyst Association (chartered alternate investment analyst)
• CMT Association (chartered market technician)
• Association for Financial Counseling and Planning Education (accredited financial counselor)
• fi360 (accredited investment fiduciary, accredited investment fiduciary analyst, professional plan consultant)
• Institute of Business and Finance (certified fund specialist and certified annuity specialist)
• Investments & Wealth Institute (certified investment management analyst, certified private wealth advisor).
• CFP Board (certified financial planner)

Wealth managers are usually required to obtain their Series 7 and Series 63, 65, or 66 credentials from the Financial Industry Regulatory Authority, which is 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 registration, which requires knowledge of state securities laws and allows you to be a securities agent. Other firms may require the Series 66 (which covers the same ground as a Series 63, but also certifies you to act as a registered investment adviser) and the Series 65 (which certifies you to act as an investment adviser representative).