Clients come first: CFA Institute

This morning, the CFA Institute celebrated the 50^th anniversary of the Chartered Financial Analyst Program. To mark the occasion, the group opened 25 global stock exchanges, including TSX and NYSE.

These ceremonies came in advance of this weekend’s CFA exams: on June 2 and 3, approximately 150,000 registered candidates will take levels I, II and III. The exams began in 1963 and today, there are more than 100,000 charterholders globally.

The CFA program requires all charterholders practice the highest level of professional and ethical standards when dealing with clients, which is key to upholding the integrity of the industry, says Margaret Franklin, CFA, president & CEO of Kinsale Private Wealth, and past chair of the CFA board of governors.

“Investors and clients are in distress, and are facing unstable markets,” said Franklin at the TSX open. “And due to serious global economic problems, we’re dealing with one of the biggest challenges we’ve ever faced as an industry.”

Read: Investors shouldn’t blindly trust Wall Street

She added, “It’s crucial for advisors and CFAs to work together to create a strong and supportive community for clients.”

Her comments echo those of John D. Rogers, president and CEO of the CFA Institute, who issued a call to action to the global investment community earlier this month. Rogers wants advisors and money managers to take the lead and start restoring investor trust.

He outlined three steps the industry must take to achieve this goal: advocate for better professional ethics; focus on activities that enable economic and social progress; and to share and teach better practices with the wider community.

Rogers also unveiled the Integrity List: 50 Ways to Restore Trust in the Investment Industry, which provides a collection of steps advisors can take to restore trust. It was inspired by 1,500 real-world ideas from CFA Institute members.

Read: TD adopts CFA conduct code

By following the steps on the List, you can also expand your business. Rogers says, “Our firms will thrive if we offer valuable services that help solve a client’s problems and meet their goals,” Rogers says. “If our companies engage in money games, however, they will not fare well.”