Briefly:

(August 19, 2008) A record 92,000 candidates, globally, sat the June exams on the road to earning a CFA charter, with a total pass rate of 42%, according to the CFA Institute.

The United States was home to the largest cohort, with 28,306 candidates taking one of the three exams, with a combined pass rate of 43%. Mainland China saw the second largest group sit the exams, with 8,510. An additional 6,194 took one of the exams in Hong Kong.

In Canada, the pass rate was right around that global average, with 41% of students passing. Combined, the Level I, Level II and Level III exams were written by 7,768 Canadians.

Europe boasted the highest pass rate, with 46% of the 15,656 candidates passing muster.

The three exams, taken in sequence, seem to do a good job of thinning the ranks of candidates: the global pass rate for Level I was just 35%, while 46% of Level II candidates succeeded, and 53% of Level III candidates passed. Assuming that all those who passed the final exam become CFA charterholders later this year, the worldwide total will top 89,000.

“Successful candidates in the CFA program demonstrate a mastery of essential investment and finance concepts, as well as a profound understanding of the global marketplace,” said Robert Johnson, CFA, deputy CEO of CFA Institute. “The content of the program evolves annually to reflect changing industry developments and new challenges, and is determined through a regular, extensive survey of practising CFA charterholders.”

Daystar names new VP

(August 19, 2008) Winnipeg-based managing general agency Daystar Financial Group has named Alex O’Donnell as senior vice-president of sales and marketing, effective immediately. O’Donnell comes to Daystar from Equitable Life of Canada.

“Alex brings a wealth of industry experience to Daystar, and we expect he will provide clear direction and strong leadership to our sales and marketing teams,” said Daystar principal Keith Brown. “With his addition, Daystar continues to build its exceptional team of some of the financial services industry’s most respected and successful people. We are very excited to welcome him aboard.”

He will officially be based in Calgary but will be working with the firm’s business development managers nationwide. Daystar has offices in Winnipeg, Calgary, Mississauga, London, Lethbridge, Vancouver and Nanaimo.

(08/19/08)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.