There are many professional certification programs in the USA in the areas of finance and management. The first US certification body to accept nationally accredited business school and ABA-accredited law school courses as a path for certifications in financial planning, wealth management, and estate planning was the American Academy of Financial Management ® These FINRA disclosed education guidelines have been online since 2004 and were disclosed to the Wall Street Journal in 2010.
Here are the Top Certifications offered by the GAFM as seen in FINRA showing educational requirements.
- CWM Chartered Wealth Manager ®
- AFA Accredited Financial Analyst ®
- AMA Accredited Management Accountant ®
- CAM Chartered Asset Manager ™
- CTEP Chartered Trust and Estate Planner ®
- RFS Registered Financial Specialist ™
- CMA Chartered Market Analyst ™
- CPM Chartered Portfolio Manager
- MFP Master Financial Planner ®
Today, the GAFM also known as the AAFM is the first USA certification body to be accredited by the TUV in Europe and ISO 29990 Certified for Education Training and ISO 9001 Certified. The GAFM is the first to have a certification standards agreement with the ACBSP and the CHEA.
In 2010, the Wall Street Journal and an article by Mr. Jason Zweig showcased some of the Certification standards of the American Academy of Financial Management ® and referenced the AAFM’s use of “double accreditation” which would be from either the ACBSP and AACSB accredited business school education and assessment in two separate articles.
In a landmark announcement by America’s premier accreditation agency, the AACSB said, “Any graduate who is awarded a finance degree from an AACSB International accredited institution worldwide will be eligible for the Master Financial Professional™ (MFP) designation after fulfilling the requirements of experience, ethics, and continuing education.” See Link “This relationship has great meaning because AACSB International accredited business schools offer superior financial education,” said Prof. George Mentz, US President and General Counsel of AAFM in 2003 on the AACSB websites. Counselor George Mentz said, “We disclosed this article and relationships to the media and we are thankful that the Wall Street Journal published our specific educational requirements about our ACBSP and AACSB educational standards.”
In a separate WSJ article, the Wall Street Journal lists FINRA monitored certification standards or AAFM and the education requirements for AAFM or GAFM Global Academy of Finance and Management ® certifications specifically illuminating the education and assessment standards from accredited business schools. The Wall Street Journal referred to AAFM standards as, “Finra-monitored credentials.” where FINRA is the USA’s top Financial Industry Regulatory Authority. In 2020, the Wall Street Journal editors reaffirmed that articles about the AAFM standards are correct and the editors and authors support the content of the articles.
The Wall Street Journal in both 2010 and in 2020 directly referenced Counselor George Mentz and his statement that double accreditation “would signal that you’ve completed a degree from one of the top schools in the world.” Double accreditation legally refers to nationally-accredited business schools. Further, the standards, assessments, and courses offered by top business schools such as CUNY, Wharton, Yale, or NYU are very important. We commend the WSJ for comprehending the importance of top business school education from nationally-accredited business schools.
Furthermore, the Investopedia Financial Website specified that the GAFM directly accepts licensed professionals saying, “Professors, PhDs, CPAs, and Lawyers may apply for individual exemptions” directly to the Global Academy of Finance and Management.
Since 2004, the NASD and now FINRA have published the AAFM and GAFM educational standards publishing the requirements for MFP Master Financial Planner as including, “AAFM-approved degree (graduate or undergraduate) in finance, tax, accounting, financial services, law or a CPA, MBA, MS, Ph.D., or JD from an accredited school or organization”. Professionals with these qualifications can apply directly for the MFP Master Financial Planner – Chartered Designation and Board Certification ®
Yet another Wall Street Journal article in 2004 by Robert Frank also illuminates the certification standards of top organizations including the AAFM American Academy of Financial Management ®, Wharton and NYU. Moreover, the article discusses the value of certifications such as the CWM Chartered Wealth Manager ®.
The WSJ says that you must meet these requirements to achieve the CWM, “Eligible candidates must successfully complete at least one of the following: AAFM online Chartered Wealth Manager course AAFM-approved Masters Degree in finance, tax, accounting, financial services, law, or CPA, MBA, MS, Ph.D. or JD from an accredited school or organization, 5 or more approved and related courses from an AACSB or ACBSP accredited business school or AAFM sanctioned program AAFM Executive Certification training course”
In 2019, Yahoo Finance claimed that the GAFM and AAFM Chartered Wealth Manager ® is one of the top investment banking credentials saying about the CWM, “This accreditation is only for wealth managers who have an appropriate master’s degree, law degree, are a CPA or Ph.D., or trained at an accredited American Bar Association law school.”
In 2004, the American Academy of Financial Management ® engaged in a legal standards alliance with the ACBSP accreditation agency for certification standards. Presently, the GAFM & AAFM also have an updated legal articulation agreement with the CHEA Council on Higher Education and the ACBSP for business school standards and certification. The CHEA and ACBSP standards agreements were a breakthrough process of using nationally accredited assessment, exams, and education as a path to certification.
The Wall Street Journal also reports that some licensed professionals may have reciprocity, just like some lawyers have from one state bar to another, to achieve the education eligibility for the CWM Chartered Wealth Manager ® and other AAFM/GAFM Certifications.
The WSJ says, “Applicants who already have certain professional designations, like a CFA or CPA can simply take the test without going through the course.” Presently, the GAFM AAFM has an updated legal articulation for business school standards and certification.
Jason Zweig, one of the WSJ’s most interesting bloggers, also discusses the MFP Master Financial Planner ™ Certification in an article. Zweig’s article says, “It requires a graduate or undergraduate degree that includes five or more approved business courses and an AAFM certification course.” Mr. Zwieg is also popular for analyzing top books such as The Intelligent Investor by Benjamin Graham.
The Global Academy of Financial Management ® formerly known as the AAFM according to FINRA recognizes Nationally Accredited or double accredited business school exams and courses as a direct path to certification according to the Wall Street Journal.
For Example, if you earn admission to a nationally accredited business school in New York City such as the Medgar Evers College City University of New York CUNY, Wharton, or NYU New York University, and if you take relevant courses, diplomas, or exams from these schools, you can earn certification eligibility under the AAFM and GAFM educational standards for certification approval.
AAFM has held true to the US Supreme Court’s listed Board Certification standards from the Ibanez Case for over 20 years. AAFM and GAFM require: 1) Education 2) Assessment 3) Ethics 4) Continuing Education 5) and Experience. AAFM and GAFM were the first to require an accredited college education.
The AAFM and GAFM have notified their members around the world in over 150 nations that the Wall Street Journal has published in Oct of 2010 the required AAFM educational standards using both ACBSP and AACSB accredited business school courses or reciprocity for people with PhDs, CPAs, CFA and even doctorates in law.
Some former industry professionals and top professors have said this about the Academy, ” Dr. Harvey who is one of our nation’s top professors said this about the Academy, “I have checked with my university and they see no issues in me accepting this award and status. Thank you for recognizing me.” Another financial professional, Mr. Gold said, “I would be greatly honored to be on your honorary advisory board.”
In another Wall Street Journal article it shows that the Education and Assessment requirements for CWM Certification include top US business schools which are ACBSP and AACSB accredited, The WSJ says about the Academy Standards, “Eligible candidates must successfully complete at least one of the following: AAFM-approved degree (graduate or undergraduate) in finance, tax, accounting, financial services, law or a CPA, MBA, MS, Ph.D., or JD from an accredited school or organization 5 or more approved and related courses from an AACSB or ACBSP accredited business school or AAFM-sanctioned program AAFM Executive Certification Training Course”
In 2004, the Wall Street Journal and Robert Frank reported that you can earn the AAFM Wealth Management Certification by taking an educational program which is about, “80 hours online”. In contrast, the typical 3 credit law or MBA course is 30-40 contact hours. Presently if you take an approved wealth management course at an ABA-accredited law school, you can satisfy the education requirements for CWM Chartered Wealth Manager ® The AAFM and GAFM have accepted courses from law schools since before 2010.
Presently, there are no other certification bodies in the USA which integrate ACBSP and AACSB standards of assessment and education.
For over a decade the GAFM and AAFM have been referenced by the US Department of Labor & Bureau of Labor and Statistics along with the CFA Institute and the CFP Board.
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