1. Degree of specialization: In the investment management industry, no other symbol enjoys such a high reputation as CFA Charter. The list of individuals holding CFA charter includes CEOs and partners of first-class investment companies, the most important investment strategy experts and research institutions with high reputation in the world. Investment professionals can enter excellent companies and win wide respect and trust in all fields of investment industry by adding CFA title after their names.
Both CFA subjects and CFA candidates should agree to sign this code. The Code requires CFA to follow a good code of conduct when dealing with customers, bosses, employees, colleagues and cooperative managers, carefully understand the letter and spirit of the law, and fully cooperate with regulatory agencies, exchanges and industry groups; CFA must think what customers think and must not act against the interests of customers; CFA should not ask others who recommend its services to pay fees or commissions, and should be very cautious when borrowing information from other analysts to prevent plagiarism; CFA cannot advertise its title in order to attract others. Every year, CFA must re-check whether it meets this standard. At the same time, once any complaint about ethics from customers is disclosed, the disclosed person may lose the title of CFA. "Investment Management and Research Association" imposes severe sanctions on violators, including expulsion or cancellation of CFA registration title. Because the American securities business has a complete elimination mechanism, securities practitioners cherish this title very much.
2. Integrity: Investors' trust in asset managers and financial analysts must be unconditional. If investment professionals want to win this trust, honesty must always be an unquestionable quality. Therefore, in order to win and maintain the right to use CFA charter, it is equally important to strictly abide by the ethics of investment management and research association and master the knowledge of CFA plan. However, unlike many other industries, in the investment industry, the boundary between moral behavior and immoral behavior is not always clear. Only by clearly understanding how to apply these rules, regulations and ethics can investment professionals safely avoid moral disputes and correctly serve customers. CFA's charter stipulates many responsibilities in the Statement of Professional Conduct, which must be signed every year, including diligence and meticulous work style in all aspects of investment decision-making.
3. Knowledge: CFA's extensive study courses make it necessary for investment professionals to master professional knowledge from portfolio management to asset valuation, derivative securities and quantitative analysis. In order to get the right to use CFA titles, on average, candidates need 240 hours to prepare for this exam. Even so, about half of the candidates fail the exam every year.