Photo: CFA Institute, Copyrighted free use, via Wikimedia Commons
Overview
CFA Institute is the global professional organization for financial analysts and other investment professionals. It began in 1947, when groups of analysts in Boston, Chicago, New York, and Philadelphia joined together, and it grew from Benjamin Graham's idea that analysts should earn a credential proving their knowledge and ethics, the way doctors and lawyers do. The first CFA exam was given in 1963 to 284 investors. Today, earning the CFA charter means passing three demanding exams covering economics, accounting, statistics, investment analysis, and ethics, plus completing years of qualifying work experience. Nearly 200,000 people worldwide now hold the CFA charter.
Why It Matters
The CFA program sets the standard for what it means to be a trustworthy financial analyst. Its code of ethics requires charterholders to put their clients' interests first, which matters because analysts help decide how retirement savings, school funds, and pension money are invested. For students, the charter is a clear goal to aim for, and CFA Institute's Research Challenge lets university teams analyze a real company and present their findings to working professionals, a preview of what the job is really like.
