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Accredited Asset Management Specialist (AAMS®)

A designation for finance professionals who become financial advisors

What is an Accredited Asset Management Specialist (AAMS®)?

Accredited Asset Management Specialist (AAMS®) is a designation for finance professionals who are becoming financial advisors or are new to becoming financial advisors. The AAMS designation will provide the advisors with fundamental financial knowledge with a specification in asset management and investment.

 

Accredited Asset Management Specialist (AAMS)

 

Summary

  • Accredited Asset Management Specialist (AAMS®) is a financial services designation that provides additional education in asset management.
  • AAMS® is a self-study program with online modules. It is exam-based with 80 questions and 70% passing requirement.
  • The AAMS® program provides credits that can be used for the completion of the CFP® Program.

 

Breaking Down AAMS®

The AAMS® program is targeted at new advisors or mid-career advisors who want to learn how to take their client relationships to the next level. Specifically, they will acquire the capability to provide more comprehensive advice on investment strategies for their clients.

However, it is important to note that more experienced advisors can opt to take the program as well, should they decide they need more education on asset management and investments. Some of the main achievements from the program will include the ability to identify newly discovered investment opportunities, along with the understanding of how to recognize insurance, tax, retirement, and estate issues for your clients.

Tuition for the AAMS® designation costs $1,300. It will provide advisors access to an online program. Some of the modules in the program will discuss topics, such as asset management, asset allocation, investing for retirement, estate planning, and investment taxes. Additionally, the program graduates will receive some credits towards completion of the Certified Financial Planner® (CFP) program should they decide to pursue that in future years.

Moreover, one benefit to the designation, specifically, is that the level of difficulty and time commitment isn’t as high as the CFP program. Advisors can complete the program in only a couple of months, depending on their previous background knowledge.

Overall, the AAMS® program will set an advisor up for their new position as a financial advisor or planner. The modules will provide appropriate knowledge to evaluate your client’s assets and make suitable recommendations regarding their finances and investments.

 

Examination and Continued Education

After their self-study, financial advisors will need to complete a final exam with 80 questions and obtain a rating of 70% or better to acquire the AAMS® designation. Some of the topics in the exam include investment strategies, investment policy, investment risk and return, and investment performance.

Additionally, the advisors must commit and agree to abide by a code of ethics throughout their career under their designation. In order to hold onto their accreditation, they are also required to complete a series of continuing education courses every two years.

The continuing education courses will ensure that the advisors are up to date on current changes to the topics. The courses include a renewal fee of $95. In addition, they must also reaffirm that they are abiding by the code of ethics.

 

Importance of the AAMS® Designation

Knowledge and achievement of the Accredited Asset Management Specialist (AAMS®)  designation are important for several reasons. Firstly, the designation can give you the ability to provide your clients with more knowledge on the topics of asset management, while also increasing your acquisition of new clients because of your designated specialty in asset management.

In terms of pursuing further education, the AAMS® program gives you credits that you can choose to put towards the completion of the CFP Program. It is important because the AAMS® certification can help you decide if you want to pursue the CFP, as it is a much bigger step in the industry. The designation can assist you in deciding what your long-term goals are and whether you want to pursue an even more intense program in the future.

Furthermore, the designation can provide you with industry recognition due to an educational background on finance-related topics. It can, in turn, aid in your career growth and success, and compensation and benefits.

 

Additional Resources

CFI offers the Certified Banking & Credit Analyst (CBCA)™ certification program for those looking to take their careers to the next level. To keep learning and developing your knowledge base, please explore the additional relevant resources below:

  • Accredited in Business Valuation (ABV)
  • American Institute of CPAs (AICPA)
  • National Association of Insurance and Financial Advisors (NAIFA)
  • Continuing Professional Education (CPE)

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