The Investment Management Consultants Association (IMCA) announced several updates to its Certified Investment Manager Analyst (CIMA) certification.
The updates revise CIMA’s four core concepts: ethics, experience, education and examination.
In December 2015, IMCA updated its code of professional responsibility to reflect ongoing changes to the investment and private wealth industry, adding emphasis on competency, a preamble and a standalone section on conflicts of interest.
IMCA has also dropped the experience requirement for applicants for CIMA certification, but still requires three years of industry experience before certification is granted.
IMCA added the MIT Sloan School of Management as a registered education provider for CIMA certification, making it the only online option for certification.
CIMA exams have also been modernized with revised content emphasizing risk management, alternative investments, behavioral finance and discretionary authority/rep-as-advisor tasks.
The revisions are based on a job analysis conducted in 2013.