Vermont CFA Society Welcomes You!

The Vermont CFA Society is a local affiliate of the CFA Institute, a global, non profit member organization of financial analysts, portfolio managers and other investment professionals. Our history began in February 1996 when a group of financial analysts met to organize a professional society for the purpose of continued professional development. We initially incorporated on March 4th, 1996 as a chapter of the Boston Security Analysts Society. We became an independent society on April 30th, 2000. Today we have over 105 members. The job functions represented by our membership are diverse ranging from equity, fixed income and alternative investment analysts to portfolio managers, wealth managers, sales and marketing professionals and college professors.

The Vermont CFA Society serves its members by:

Hosting dinner and luncheon events with renowned experts covering a range of topics within investment management and financial markets, as well as presentations from public corporations. Our events are open to anyone who has an interest in the topic; you do not have to be a member or a CFA charterholder to participate.

Providing a forum for education, networking and the exchange of ideas and information among the Vermont investment community.

Encouraging high ethical standards and professional conduct among all participants in the investment industry.

Providing assistance in CFA exam preparation, including scholarships and mock exams.

Working to further the public's understanding of the CFA designation and the investment industry.

CFAI News

139,900 Candidates Enroll for June 2010 CFA Exams

Charlottesville, Virginia, United States, 2 June 2010

CFA Institute, the global association of investment professionals, announced today that 139,900 candidates from 160 countries have enrolled for the CFA exam in June 2010. Despite the financial crisis, the number of candidates remained resilient and has increased by nine percent, reflecting the strong commitment among finance professionals to high standards of competency, integrity, and professional excellence, which are at the core of the CFA exam.

Asia Pacific continues to be the largest source of candidates, accounting for 40 percent of the total, followed by 37 percent from the Americas, and 23 percent from EMEA (Europe, Middle East, and Africa). Asia Pacific also led the worldwide growth, with a 12 percent increase in number of candidates. View key statistics for the global CFA exam registration (PDF).

“Investors need trustworthy professionals to manage their wealth. This is the most important lesson the world has learnt in the global financial crisis. We are delighted that a significant number of individuals from across the world continue to be committed to pursuing the CFA designation, which has ethics, rigor, tenacity, and analytics at its core,” said John Rogers, CFA, president and CEO of CFA Institute.

“At this time of global economic instability, we believe it is especially important for the investment industry to be led by professionals who put investors’ interests first. Finance markets cannot function effectively without ethical behavior, and transparency and CFA charterholders are integral to this,” Rogers said.

The CFA Program is a self-study program, considered to be the most rigorous credentialing program in the investment industry. The CFA curriculum is grounded in the practice of the investment profession and evolves with time. Through a process called “practice analysis,” a survey of investment professionals from around the world, CFA Institute is able to update the curriculum with knowledge, skills, and competencies that are relevant to the profession. The CFA Program is a strong foundation for a wide range of career paths, and the CFA charter is recognized as the gold standard in the investment industry.

“It is encouraging to see the CFA Program participation remaining resilient despite the volatility in the financial markets. Developing a career in the finance industry will continue to be rewarding in the long run. CFA candidates and charterholders regularly tell me that when looking for a new job or working with potential and current clients, the CFA designation distinguishes them from those without the charter. This is an incredibly important testament to the value of the credential,” said Robert R. Johnson, CFA, senior managing director of CFA Institute.

The CFA exam is a three-level exam covering topics including Ethical and Professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Finance, Investment Tools, Asset Classes, and Portfolio Management and Wealth Planning. Each level imparts a particular skill set: Level I is focused on investment tools and the foundations of the business, giving candidates the necessary knowledge and comprehension; Level II is focused on asset classes including equity investments, fixed income, derivatives, and alternative investments, emphasizing candidates’ ability in application and analysis; and Level III is focused on portfolio management and wealth planning, requiring candidates to be competent in synthesis and evaluation while making investment decisions.

The Level I exam is administered in both June and December, while Levels II and III are administered in June only. Surveys of candidates indicate that they spend an average of about 300 hours preparing for each exam. Preparation time required for individual candidates will vary, however, depending on their individual circumstances and academic background.

On average, successful candidates take four years to complete the self-study program and examinations to earn the CFA charter. In addition to passing the exams, candidates must also have at least four years of work experience in the investment profession, commit to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct (a commitment they must reaffirm each year to maintain the charter), and become a regular member of CFA Institute. Find out more about the CFA Program.

CFA Institute

CFA Institute is the global association for investment professionals. It administers the CFA and CIPM curriculum and exam programs worldwide; publishes research; conducts professional development programs; and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has nearly 100,000 members, who include the world’s 86,700 CFA charterholders, in 133 countries and territories, as well as 137 affiliated professional societies in 57 countries and territories. More information may be found at www.cfainstitute.org.