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F3 Financial Strategy
CIMA Financial syllabus
Killexams : CIMA Financial syllabus - BingNews Search results Killexams : CIMA Financial syllabus - BingNews Killexams : Takes on a flying start for the CIMA new syllabus

Wisdom - the specialist in CIMA education has commenced lectures for the May 2010 session on 5th December, as per a statement issued by a representative of the academy.

All stages of CIMA will be covered and preparations being made by its lecture panel to best approach and perform at the CIMA new syllabus focusing on the changes introduced by CIMA.

Lectures for Operational, Management, and Strategic levels as well as TOPCIMA will be conducted by a panel of well-qualified corporate personalities and teaching will be done in line with the guidelines stipulated by CIMA UK for its learning partner institutes. These include integration of theory with practical understanding, test preparation with past paper coverage, lecturer evaluations, individual attention, individual marking of mock test scripts as well as a comprehensive coverage of the syllabus well-ahead of scheduled examination dates.

Lecture Panel

Wisdom's Lecture Panel consists of the best-known individuals in preparing for CIMA: Hasitha Premaratne (MBA, BSc, FCCA, ACMA, ASCMA), Shanil Jayasekera (MBA, B.Com, ASCMA, MCPM, ACMA), Mallik De Silva (ACMA, ACA, LTCL), Sugeeth Patabendige (BBA, PG Dip. Finance, ACIM, Dip.M, ACMA), Channa Gunawardene (MBA, B.Sc (Hons) First Class, ACA, ACMA), S. Srikanth (MBA,MCIM, B.Pharm, Cerfified Professional Marketer, PG Dip. Psychology), Jehan Jayasuriya (ACMA, Dip M, ACIM, BBA), Tharindu Ameresekere (MBCS, MACS, B.Sc (Hons) Computing, BCS-PGD, MMIEEE, PQHRM, Masters in Project Management, CIMA Passed Finalist) and Akalanka Saparamadu (B.B.A and CIMA Passed Finalist) to name a few.

A History of Outstanding Results

The Wisdom Business Academy envisions pushing each of its students to challenge themselves. Wisdom has consistently maintained its pass rates well above the Sri Lanka pass rates as a minimum performance level while benchmarking itself to be in par with UK pass rates; while at times surpassing it and going beyond the world pass rates too. According to a representative from the academy, this is not due to sheer luck or magic but an approach that is well-strategised with time-scales and performance standards by each of its lecturers.

Lecturer Evaluation
In order to achieve the best standards of teaching, the academy maintains a forum where each and every student is involved in the process of evaluating each of his or her lecturer. This takes place half-way through the course as well upon completion of the syllabus. This information is archived by Wisdom's management and is used as a means of continuous improvement to bridge any gap between targeted and actual performance, which is stipulated in the action plan given to each lecturer. This method also contributes in serving as a means to monitor how effectively each lecture delivery is received by each student.

Nurturing tomorrow's Leaders
Wisdom inculcates the importance of being well-rounded individuals with a range of extra-curricular activities such as sporting events, social events and welfare activities. This holistic approach to education goes beyond mere classroom experiences as a pre-cursor in launching individuals that are ready to make their mark in the corporate world.

The Wisdom Business Academy has long-been known as an institute that offers its students scholarships on merit-based and need-based. Students with excellent results at A/Ls or those who have obtained island or district placements have often been recipients of this. In addition, Wisdom rewards its students who have achieved excellent results in their CIMA examinations as well as various other activities such as sports, quiz competitions, debates etc.

All revision sessions at Wisdom are conducted free of charge for its students, and a minimum of ten past papers are discussed during this programme. Each answer script submitted is marked individually and each lecturer is assigned to offer personalised feedback to every student.

Wisdom Business Academy is the largest CIMA Business School in Sri Lanka. The priority of Wisdom is to provide solid academic assistance to its students and thereby turn out high-quality management accountants into the industry. This approach is not limited to theory of the syllabus alone but also extends to psychological principles in order to build self confidence and mental preparation in facing the exams successfully.

Wisdom Business Academy is an accredited CIMA Learning Quality Partner with an ISO 9001:2000 certification. It was founded in 2002 on the principle of grooming tomorrow's Management Accountants with financial expertise and strategic ability to take them closer towards career goals and success.

Sun, 08 Jul 2018 06:22:00 -0500 text/html
Killexams : CIMA Unveils Syllabus to Bridge Digital Skills Gaps

Funmi Ogundare

The Chartered Institute of Management Accountants (CIMA) recently unveiled its syllabus that would enable professional management accountants and finance professionals to enjoy a more robust and all-encompassing certification.

Following the review, the new syllabus will now enable students acquire new skills and competencies that are relevant to a digital market place.

The accounting management body in a statement said the updated professional qualification and CGMA competency framework address emerging digital skills gaps and that the change was necessitated by a study it carried out, which showed a clear need for a review.

According to CIMA, over the course of 18 months, it consulted finance professionals from over 2,000 public and private organisations in 150 countries, including through face-to-face interviews, roundtables and a global survey.

“The goal was to bring together different organisational views to understand and build a composite picture of the role finance professionals play in business, identify competencies and skills employers expect and map how these are changing in a digital world.“

The study titled ‘Reinventing Finance for a Digital World’, according to the statement, showed that over 50 per cent of finance leaders globally say the competencies of their teams must change significantly over the next three years as new technologies take over traditional tasks. The upside is that businesses expect a stronger focus on value creation with the automation of repetitive tasks.

The Executive Vice-President, Academics, Association of International Certified Professional Accountants, Dr. Noel Tagoe, who oversaw the unveiling, highlighted the three key areas that were updated and the expected benefits to professionals.

“The updated CIMA Professional Qualification focuses extensively on digital finance to deliver finance professionals who can harness the full power of technology and data to create and add organisational value while supporting businesses to mitigate new risks, including cybersecurity threats.”

He said the CGMA Competency Framework was also updated which both adds and incorporates the new area of digital skills to the four core existing knowledge areas of technical, business, leadership and people skills.

Tagoe said the third is the digital mind set professional development course to enhance competencies and skills through a free CPD bundle based on automation, blockchain, cybersecurity, data analytics and ethics.

He added that the body will continue to explore innovative ways to enhance the learning experience of its students to match new skills and competencies required in the market place.

Rotary Club Provides Safe Drinking Water for Lagos School

Motivated by the need to provide access to safe drinking water, which is critical to human health and development, Rotary Club of Lekki Phase I, RI District 9110, recently inaugurated a water project at Ebute Elefun Secondary School, Sura, Lagos Island to promote and encourage good health and well-being among students and staff in school.

The project, which was officially inaugurated by the District Governor, Rotarian Kola Sodipo, was courtesy of Rotary Club of Lekki Phase 1, with the support of the Rotary International through the Nigeria National Polio Plus Committee (NNPPC).

Speaking at the event, the National Coordinator of NNPPC, Tunji Funsho explained that the collaborative initiative was designed to create awareness of the importance of adequate water intake among students as part of a healthy and active lifestyle.

“Access to safe drinking water will create a plentiful source of low cost refreshment throughout the day for the students. It will encourage good health and wellbeing among students, staff and others, as well as reduce tiredness, irritability and distraction from thirst”, he said.

In his remarks, the President, Rotary Club of Lekki Phase 1, Dimeji Ajayi stated that the water project would have a positive effect on students’ concentration throughout the day and would demonstrate to parents and the local community that the school values students’ health and wellbeing.

Lauding the initiative, the Director, Education District, Mrs. Ajayi Aderonke, who represented the Lagos State Ministry of Education, thanked the club for providing water free of charge, adding that safe drinking water is critical to human health and development, yet millions of people lack access to safe drinking water from an improved source, many of these in sub-Saharan Africa.

On her part, the Principal of the school, Mrs. Omolara Oyebanji said the project would encourage consumption of water by the students and staff, adding that the school would ensure that the water remains hygienic, available and maintained.

Tue, 19 Feb 2019 12:50:00 -0600 en-US text/html
Killexams : CIMA to launch 2010 syllabus

The Chartered Institute of Management Accountants (CIMA) will launch its updated professional qualification, CIMA Future on June 15 and 16 2009 in Sri Lanka.

Dr. Robert Jelly the Director of Education at CIMA will conduct workshops on the 2010 syllabus for CIMA tuition providers and students. Developed in conjunction with the University of Bath, the new qualification follows extensive research and contributions from more than 4,500 employers and other stakeholders worldwide. As an employer-led body, CIMA is the only professional accountancy qualification that is reviewed and updated every four years to ensure it remains the most relevant international accountancy qualification for business. The first examinations on the new qualification will be held in May 2010.

Robert joined CIMA in January 2000, and as Director of Education, has worldwide responsibility for maintaining the relevance and differentiation of the CIMA qualification currently studied by CIMA students worldwide and for the life long learning of CIMA's members. He is also a director of CIMA Enterprise Limited - CIMA's commercial operations, with particular responsibility for CIMA's publishing, and courses and conferences activities.

Robert was awarded an honorary doctorate from Kingston University, London, for his "outstanding contribution to accounting and management education" in January 2007.

Mon, 05 Jul 2021 20:47:00 -0500 text/html
Killexams : Janine Craane, CIMA, WMA

Janine was born in Venezuela and educated in the United States. She began her career 25 years ago on the foreign equity arbitrage desk, where she took advantage of her language skills—Spanish, French, and Portuguese—to gain insight into emerging markets. She earned her CIMA® and became part of an elite group to receive the qualification as an advanced investment consultant. She has spent the majority of her career advising institutional clients with their investment portfolios—providing industry leading advice, delivering personalized institutional consulting services and ongoing due diligence and reporting. Also, it is Janine’s relationships in the industry that provide access to certified that keep the group’s financial strategy current with the latest innovations.

Mon, 29 Jun 2020 21:11:00 -0500 en text/html
Killexams : UP board class 12 Education syllabus 2022-23: get the Education syllabus in PDF

UP board class 12 Education syllabus 2022-23: get the latest syllabus of Education published by Uttar Pradesh Board of High school and Intermediate education in PDF format.

up board class 10 education syllabus 2023

UP board class 12 Education syllabus 2022-23: Uttar Pradesh Madhyamik Shiksha Parishad has published the latest and updated syllabus of its secondary and higher senior secondary courses. The syllabus is available on the website of UPMSP. The syllabus for each subject can be downloaded separately. Alternatively, students can directly get the syllabus at Jagran Josh. 

Uttar Pradesh Board of High school and Intermediate education provides a course on Education, code 134, to its senior secondary students. The course covers the basics of the art of education. 

The Education paper for UPMSP students in 12th is conducted for 100 marks and the students get 3hours to answer it.

up board class 10 education syllabus 2023

The syllabus is divided into two parts with multiple units in both parts.

up board class 10 education syllabus 2023

The first part focuses on the development of modern academic ideologies. It has three units.

The second part focuses on educational psychology. This part also has three units.

Both parts carry equal weightage.

Imparting education is as crucial and complex as education itself. 

The syllabus is also reduced by 30%.  The list of deleted Topics is attached below:

up board class 10 education syllabus 2023

“Learning is not the product of teaching. Learning is the product of the activity of learners.” – John Holt

Education is not just what one reads and writes in textbook exercise. Rather education attained as that is only rot learning.

Education is, instead, connecting knowledge gained in class to life outside the school. This is what makes imparting education very tricky. 

Teachers need to possess deep understanding about the very construction of knowledge. They have to enable learner’s knowledge construction, creating a fear-free atmosphere in their classrooms while addressing diversity and maintaining unbiased and sensitive inclusion, equity and quality. 

Therefore , all candidates pursuing the course must study well and prepare to be the forebearers of education in their society.

All the best!

Sun, 06 Nov 2022 14:41:00 -0600 text/html
Killexams : AICPA & CIMA Launch ESG Fundamentals Certificate

NEW YORK--()--AICPA & CIMA, which together form the Association of International Certified Professional Accountants, are offering a new certificate that provides foundational knowledge on critical Topics related to environmental, social and governance (ESG) reporting and assurance. The growing demand for ESG data – driven by investors, lenders, customers and, increasingly, policymakers – makes this a high priority category for skills development within the accounting profession.

The Fundamentals of ESG Certificate is available globally and is appropriate for CPAs, management accountants such as CGMAs, and finance professionals looking to obtain a baseline knowledge of ESG topics. The 9-hour course offers a grounding in the fundamental concepts of and latest developments within the ESG field. Upon completion, certificate holders can display a digital badge in their online profiles.

“When we talk about preparing the accounting profession for tomorrow, ESG is a core component,” said Susan S. Coffey, CPA, CGMA, AICPA & CIMA’s CEO of public accounting. “Business reporting and the underlying concepts of enterprise value are evolving rapidly, and no group is more essential to instilling trust and integrity into that process than accountants. Our obligation as a profession is to make sure we develop the necessary skills and expertise to lead the integration of ESG into the organization and deliver on high-quality reporting and assurance of ESG information.”

AICPA & CIMA are developing a detailed learning roadmap for ESG. As the first step on that journey, the Fundamentals of ESG Certificate program will provide course takers with the ability to:

  • Identify the key aspects in each area of Environment, Social and Governance
  • Recognize the expectations of investors and the impact on business
  • Assess the responsibility of businesses for key ESG issues
  • Recognize the business case for implementing sustainable practices
  • Identify the role of the accounting and auditing profession in sustainability
  • Recognize the current sustainability reporting frameworks and reporting requirements

Pricing and further details of the program are available on the certificate home page. For an array of other resources on sustainability and ESG, please visit

About the Association of International Certified Professional Accountants, and AICPA & CIMA

The Association of International Certified Professional Accountants (the Association), representing AICPA & CIMA, advances the global accounting and finance profession through its work on behalf of 689,000 AICPA and CIMA members, students and engaged professionals in 196 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license and specialized credentials, professional education and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

The American Institute of CPAs (AICPA), the world’s largest member association representing the CPA profession, sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It also develops and grades the Uniform CPA Examination and builds the pipeline of future talent for the public accounting profession.

The Chartered Institute of Management Accountants (CIMA) is the world’s leading and largest professional body of management accountants. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer’s choice when recruiting financially trained business leaders.

Wed, 09 Nov 2022 23:35:00 -0600 en text/html
Killexams : What Does a Financial Advisor Do?

Many wonder what a financial advisor does. In general, these professionals help you make decisions about what you should do with your money, which may include investments or other courses of action.

Key Takeaways

  • A financial advisor is often responsible for more than just executing trades in the market on behalf of their clients.
  • Advisors use their knowledge and expertise to construct personalized financial plans that aim to achieve the financial goals of clients.
  • These plans include not only investments but also savings, budget, insurance, and tax strategies.
  • Advisors further check in with their clients on a regular basis to re-evaluate their current situation and future goals and plan accordingly.
  • You do not need to be wealthy to benefit from the services of a financial advisor.

The Many Roles of a Financial Advisor

A financial advisor is your financial planning partner. Let's say you want to retire in 20 years or send your child to a private university in 10 years. To accomplish your goals, you may need a skilled professional with the right licenses to help make these plans a reality; this is where a financial advisor comes in.

Together, you and your advisor will cover many topics, including the amount of money you should save, the types of accounts you need, the kinds of insurance you should have (including long-term care, term life, disability, etc.), and estate and tax planning.

The financial advisor is also an educator. Part of the advisor's task is to help you understand what is involved in meeting your future goals. The education process may include detailed help with financial topics. At the beginning of your relationship, those Topics may include budgeting and saving. As you advance in your knowledge, the advisor will assist you in understanding complex investment, insurance, and tax matters. 

Services Provided by Financial Advisors

  • Investment advice: Financial advisors offer advice on those investments that fit your style, goals, and risk tolerance and goals, developing an investing strategy and making adjustments as needed.
  • Debt management: Financial advisors can create strategies to help you pay down your debt and avoid debt in the future.
  • Budgeting: A financial advisor will provide tips and strategies to create a budget that helps you meet your goals in the short and the long term.
  • Saving for college: Part of a budgeting strategy may include strategies that help you pay for higher education.
  • Retirement planning: Likewise, a financial advisor will create a saving plan crafted to your specific needs as you head into retirement.
  • Estate planning: Financial advisors will create a plan and help you identify the people or organizations you want to receive your legacy after you die.
  • Long-term healthcare and insurance: A financial advisor will provide you with the best long-term solutions and insurance options that fit your budget.
  • Tax planning: Financial Advisor Tax Planning Services include:
  • Tax return preparation.
  • Maximizing tax deductions.
  • Scheduling tax-loss harvesting security sales, usually around year-end.
  • Ensuring the best use of the capital gains tax rates.
  • Planning to minimize taxes in retirement.

Step one in the financial advisory process is understanding your financial health. You can’t properly plan for the future without knowing where you stand today. Typically, you will be asked to complete a detailed written questionnaire. Your answers help the advisor understand your situation and make certain you don't overlook any important information.

The Financial Health Questionnaire

A financial advisor will work with you to get a complete picture of your assets, liabilities, income, and expenses. On the questionnaire, you will also indicate future pensions and income sources, project retirement needs, and describe any long-term financial obligations. In short, you’ll list all current and expected investments, pensions, gifts, and sources of income.

The investing component of the questionnaire touches upon more subjective topics, such as your risk tolerance and risk capacity. Having an understanding of your risk assists the advisor when it’s time to determine your investment asset allocation. At this point, you'll also let the advisor know your investment preferences as well.

The initial assessment may also include an examination of other financial management topics, such as insurance issues and your tax situation. The advisor needs to be aware of your current estate plan, as well as other professionals on your planning team, such as accountants and lawyers. Once you and the advisor understand your present financial position and future projections, you’re ready to work together on a plan to meet your life and financial goals. 

Creating a Financial Plan

The financial advisor synthesizes all of this initial information into a comprehensive financial plan that will serve as a roadmap for your financial future. It begins with a summary of the key findings from your initial questionnaire and summarizes your current financial situation, including net worth, assets, liabilities, and liquid or working capital. The financial plan also recaps the goals you and the advisor discussed.

The analysis section of this lengthy document will provide more information about several topics, including your risk tolerance, estate-planning details, family situation, long-term care risk, and other pertinent present and future financial issues.

Based upon your expected net worth and future income at retirement, the plan will create simulations of potentially best- and worst-case retirement scenarios, including the scary possibility of outliving your money. In this case, steps can be taken to prevent that outcome. It will look at reasonable withdrawal rates in retirement from your portfolio assets. Additionally, if you are married or in a long-term partnership, the plan will consider survivorship issues and financial scenarios for the surviving partner.

After you review the plan with the advisor and adjust it as necessary, you’re ready for action.

Financial advising is a hot topic, and it pays to stay up to date on the Department of Labor's Fiduciary Rulings, as they may have a significant impact on the financial advising industry.

Financial Advisors and Investments

It’s important for you, as the consumer, to understand what your planner recommends and why. You should not follow an advisor’s recommendations unquestioningly; it’s your money, and you should understand how it’s being deployed. Keep a close eye on the fees you are paying—both to your advisor and for any funds bought for you.

Ask your advisor why they recommend specific investments and whether they are receiving a commission for selling you those investments. Be alert for possible conflicts of interest.

The advisor will set up an asset allocation that fits both your risk tolerance and risk capacity. Asset allocation is simply a rubric to determine what percentage of your total financial portfolio will be distributed across various asset classes. A more risk-averse individual will have a greater concentration of government bonds, certificates of deposit (CDs), and money market holdings, while an individual who is more comfortable with risk may decide to take on more stocks, corporate bonds, and perhaps even investment real estate. Your asset allocation will be adjusted for your age and for how long you have before retirement.

Each financial advisory firm is required to make investments in accordance with the law and with its company investment policy when buying and selling financial assets.

A commonality among firms is that financial products are selected to fit the client’s risk profile. Suppose, for example, a 50-year-old individual who’s already amassed enough net worth for retirement and is predominantly interested in capital preservation. They may have a very conservative asset allocation of 45% in stock assets (which may include individual stocks, mutual funds, and/or exchange-traded funds (ETFs)) and 55% in fixed-income assets such as bonds. Alternatively, a 40-year-old individual with a smaller net worth and a willingness to take on more risk to build up their financial portfolio may opt for an asset allocation of 70% stock assets, 25% fixed-income assets, and 5% alternative investments.

While taking into account the firm’s investment philosophy, your personal portfolio will also fit your needs. It should be based on how soon you need the money, your investment horizon, and your present and future goals.

Regular Financial Monitoring

Once your investment plan is in place, you’ll receive regular statements from your advisor updating you on your portfolio. The advisor will also set up regular meetings to review your goals and progress and to answer any additional questions you may have. Meeting remotely via phone or video chat can help make those contacts happen more often.

In addition to regular, ongoing meetings, it’s important to consult with your financial advisor when you anticipate a significant change in your life that might impact your financial picture, such as getting married or divorced, adding a child to your family, buying or selling a home, changing jobs, or getting a job promotion.


The average base salary of a financial advisor, according to Indeed.

Signs You May Need an Advisor

Anyone can work with a financial advisor at any age and at any stage of life. You don’t have to have a high net worth; you just have to find an advisor suited to your situation.

The decision to enlist professional help with your money is a highly personal one, but any time you’re feeling overwhelmed, confused, stressed out, or scared by your financial situation may be a good time to look for a financial advisor. If you cannot afford such help, the Financial Planning Association may be able to help with pro bono volunteer assistance.

It’s also fine to approach a financial advisor when you’re feeling financially secure but you want someone to ensure that you’re on the right track. An advisor can suggest possible improvements to your plan that might help you achieve your goals more effectively. Finally, if you don’t have the time or interest to manage your finances, that’s another good reason to hire a financial advisor.

Those are some general reasons you might need an advisor’s professional help. Here are some more specific ones.

None of Your Savings Is Invested or You Don’t Know How to Invest

Because we live in a world of inflation, any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow, and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

You Have Investments, But You’re Consistently Losing Money

Even the best investors lose money when the market is down or when they make a decision that doesn’t turn out as they’d hoped. But, overall, investing should increase your net worth considerably. If it’s not doing that, hiring a financial advisor can help you find out what you’re doing wrong and correct your course before it’s too late.

You Don’t Have a Current Estate Plan

A financial advisor can also help you put together an estate plan to make sure your assets are handled according to your wishes after you die. And if you aren’t properly insured (or aren’t sure what insurance you need), a financial advisor can help with that, too. Indeed, a fee-only financial advisor may be able to offer a less biased opinion than an insurance agent can.

7 Steps To Evaluate A Financial Advisor

How to Choose a Financial Advisor

Follow these simple steps in order to choose the right financial advisor that provides strategies and services that fit your goals and needs.

  • Interview a few different advisors and compare their services, style, and fees. Don't forget to be prepared with a questionnaire to help you decide if they are a good fit.
  • Look for an advisor who focuses on educating. A good financial advisor shouldn't just sell their services, but provide you with the tools and resources to become financially savvy and independent, so you can make informed decisions on your own.
  • Look for an advisor who is educated and well-informed. You want an advisor who stays on top of the financial scope and updates in any area, and who can answer your financial questions about a myriad of topics.
  • Look for an advisor that matches your style and beliefs, and understands your emotions. For example, you want an advisor that is well aware of your risk tolerance and encourages you to take wise decisions.

The Costs of a Financial Advisor

A rule proposed by the Department of Labor (DOL) would have required all financial professionals who work with retirement plans or provide retirement plan advice to provide advice that is in the client’s best interest (the fiduciary standard), as opposed to simply suitable for the client (the suitability standard). The rule was passed, its implementation was delayed and then a court killed it.

But in the roughly three-year interval between President Obama's proposal of the rule and its eventual death, the media shed more light than it had previously on the different ways financial advisors work, how they charge for their services and how the suitability standard might be less helpful to consumers than the fiduciary standard. Some financial advisors decided to voluntarily move to a fiduciary standard or more heavily promote that they already operated under that standard. Others, such as certified financial planners™(CFPs), already adhered to this standard. But even under the DOL rule, the fiduciary standard would not have applied to non-retirement advice.

Commission-Based Model

Under the suitability standard, financial advisors typically work on commission for the products they sell to clients. This means the client may never receive a bill from the financial advisor. On the other hand, they could end up with financial products that charge higher fees than other similar products on the market. These same financial products may result in the advisor earning a high commission.

Fee-Based Model

Under the fiduciary standard, advisors either charge clients by the hour or as a percentage of their assets under management (AUM). A typical percentage fee is 1%, while a typical hourly fee for financial advice ranges from $120 to $300. Fees vary by location and the advisor’s experience. Some advisors may offer lower rates to help clients who are just getting started with financial planning and can’t afford a high monthly rate. Typically, a financial advisor will offer a free, initial consultation. This consultation provides a chance for both the client and the advisor to see if they’re a good fit for each other.

Combination of Fees and Commissions

Financial advisors can also earn a combination of fees and commissions. A fee-based financial advisor is not the same as a fee-only financial advisor.

A fee-based advisor may earn a fee for developing a financial plan for you, while also earning a commission for selling you a certain insurance product or investment.

A fee-only financial advisor earns no commissions.

The Securities and Exchange Commission (SEC) proposed its own fiduciary rule called Regulation Best Interest in April 2018. In some ways, it was considered to be less strict than the DOL’s fiduciary rule, while also addressing some of the concerns of the critics of the DOL's fiduciary rule. At the same time, the SEC's rule was more all-encompassing because it would not be limited to retirement investments.

How Different Types of Financial Advisors Get Paid
  Fee-Only Fee-Based Commission-Based
Earns money when you buy specific investments No Yes Yes
Earns money when you buy a specific insurance product No Yes Yes
Earns money based on how well your investment portfolio performs Yes  Sometimes No
Has a conflict of interest No Yes Yes

Considering a Robo-Advisor

A digital financial advisor, also called a robo-advisor, is a tool that some companies provide for their customers. A robo-advisor uses computer algorithms to manage your money based on answers to questions about your goals and risk tolerance. Robo-advisors don’t require you to have much money to get started, and they cost less than human financial advisors. Examples include Betterment and Wealthfront. These services can save you time and potentially cost you less money.

However, a robo-advisor can’t speak with you about the best way to get out of debt or fund your child’s education. It also can’t talk you out of selling your investments out of fear or help you build and manage a portfolio of individual stocks. Robo-advisors typically invest clients’ money in a portfolio of exchange-traded funds (ETFs) and mutual funds that provide stock and bond exposure and track a market index. It's also important to keep in mind that if you have a complex estate or tax issue, you will likely require the highly personalized advice that only a human can offer.

Which Type of Financial Advisor Is Best for You?
  Human Advisor Robo-advisor Digital Advisor
Services Holistic financial advice, including budgeting, estate planning and investing Investment advice only Different levels of service based on your assets under management
Typical Fee 1% 0.24% to 0.50% 0.89%
Best For Anyone who wants to meet with their advisor in person; clients with complex circumstances; high net worth clients Anyone who prefers a fully automated online experience with no consultations; clients with simple finances; low net worth clients Anyone who wants a mostly automated digital experience, but the opportunity to speak with an advisor online or by phone

What Does a Financial Advisor Do?

A financial advisor is not just someone who manages your investments. An advisor can help you figure out your savings, how to build for retirement, help with estate planning, and others. If however you only need to discuss portfolio allocations, they can do that too (usually for a fee).

How Much Do You Pay a Financial Advisor?

Financial advisors can be paid in a number of ways. Some will be commission-based and will make a percentage of the products they steer you into. These types of positions have been heavily criticized as the advisor may not have your best interests in mind if they are trying to make a commission. Most financial advisors work for a percentage fee based on the amount they are responsible for. Some, like hedge funds, will make a percentage of your profit as well.

Are Financial Advisors Free?

Financial advisors are almost never "free." Even though you may not be responsible for any upfront fees, a financial advisor can make a percentage of your principal, commissions on what products they sell you, and sometimes even a percentage of your profits. Very high net worth individuals may be offered "free" advisor services, but more often than not these advisors are tasked with subtly steering the individual into products or services that benefit the institution. This isn't to say the person using the advisor is losing anything, but the advisor, and who they work, for will always find a way to profit.

The Bottom Line

Not all financial advisors have the same level of training or will offer you the same depth of services. So when contracting with an advisor, do your own due diligence first and make sure the advisor can meet your financial planning needs.

Check out their certifications as well, and be sure you understand, agree with, and can afford their fee structure. Also, investigate their regulatory history with your state regulatory agency, FINRA’s BrokerCheck, and the SEC’s Investment Advisor Public Disclosure database.

Finally, be aware that finding an advisor who is the right fit for your personality is key to developing a successful, long-term relationship.

Tue, 22 Nov 2022 10:00:00 -0600 en text/html
Killexams : AICPA & CIMA offer ESG certificate program

The Association of International Certified Professional Accountants, representing the American Institute of CPAs and the Chartered Institute of Management Accountants, rolled out an environmental, social and governance training program for accountants Thursday.

The Fundamentals of ESG Certificate is available worldwide and is aimed at CPAs, management accountants such as CGMAs, and finance professionals who want to acquire a baseline knowledge of ESG topics. The nine-hour course covers the fundamental concepts of the ESG field and accurate developments. Once they complete the training, certificate holders can display a digital badge in their online profiles. 

The introduction of the ESG certificate program comes as the United Nations is holding its COP27 climate change conference in Egypt, where delegates are meeting to discuss ways to keep the planet from warming as the frequency of natural disasters such as hurricanes, tornadoes, wildfires and droughts seems to be accelerating along with rising temperatures and sea levels. Accountants have been drawn into the sustainability effort through the increasing popularity of ESG investment funds, and growing demands for companies to account for their efforts at reducing emissions and using more renewable energy. 

"When we talk about preparing the accounting profession for tomorrow, ESG is a core component," said Susan S. Coffey, AICPA & CIMA's CEO of public accounting, in a news release. "Business reporting and the underlying concepts of enterprise value are evolving rapidly, and no group is more essential to instilling trust and integrity into that process than accountants. Our obligation as a profession is to make sure we develop the necessary skills and expertise to lead the integration of ESG into the organization and deliver on high-quality reporting and assurance of ESG information."  

AICPA & CIMA are planning further training on ESG. For a start, the Fundamentals of ESG Certificate program will provide course takers with the ability to identify key aspects of ESG; recognize the expectations of investors and the impact on business; assess the responsibility of businesses for key ESG issues; recognize the business case for implementing sustainable practices; identify the role of the accounting and auditing profession in sustainability; and recognize the current sustainability reporting frameworks and reporting requirements.

Thu, 10 Nov 2022 03:44:00 -0600 en text/html
Killexams : 10 Best Financial Advisors of December 2022

Becoming a financial advisor can be a lucrative move — in 2019 the median annual salary for personal financial advisors was $87,850 — but what’s the process actually like? While there are technically no requirements to call yourself a financial advisor, some relevant education will help you reach your goal. Here’s how to become a personal financial advisor:

1. Earn a bachelor’s degree. While not always required, many personal financial advisor job postings list it as a desired qualification. It helps to have a degree in finance, economics or another related topic.

2. Gain experience. If possible, try to find an internship that will help you get some firsthand experience. Many advisory firms also offer on-the-job training for the first year a new advisor is working with them.

3. Get licensed and/or certified. Depending on the types of products you plan to sell or the specific field you’d like to work in, you may need to earn a license or certification. For example, if you plan on selling insurance, you’ll likely need to get licensed by a state board. Having a certification pertinent to your field can help you grow your reputation, gain more clients and earn a higher salary.

Tue, 18 Oct 2022 01:28:00 -0500 en text/html
Killexams : Find A Financial Advisor Near You

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Do you need help managing your money? If you’re like many Americans, you might need a hand. According to the National Financial Education Council, a lack of personal finance knowledge costs the average American $1,200 a year.

Finding a good financial advisor can help you avoid these costs and focus on goals. Financial advisors aren’t just for rich people—working with an advisor is a great choice for anyone who wants to get their personal finances on track and set long-term objectives. Follow these steps to find the right financial advisor for your needs.

Related: Find A Financial Advisor In 3 minutes

1. Decide What Part of Your Financial Life You Need Help With

Before you speak to a financial advisor, decide which aspects of your financial life you need help with. When you first sit down with an advisor, you’ll want to be ready to explain your particular money management needs.

Keep in mind that financial advisors provide more than just investment advice. The best financial planner is the one who can help you chart a course for all your financial needs. This can cover investment advice for retirement plans, debt repayment, insurance product suggestions to protect yourself and your family, and estate planning.

Depending on where you are in life, you may not need comprehensive financial planning. People whose financial lives are relatively straightforward, like young people without families of their own or significant debt, might only need help with retirement planning.

People with complex financial needs, however, may need extra assistance. They could be looking to establish college funds or trusts for their children, navigate aggressive debt payment situations or solve tricky tax problems. Not all types of financial advisors offer the same menu of services, so decide which services you need and let this guide your search.

2. Learn About the Different Types of Financial Advisors

There’s no federal law that regulates who can call themselves a financial advisor or provide financial advice. While many people call themselves financial advisors, not all have your best interest at heart. That’s why you have to carefully evaluate potential financial advisors and make sure they are good for you and your money.

Part of learning about the different types of advisors is understanding fiduciary duty. Some, but not all, financial advisors are bound by fiduciary duty, meaning that they are legally required to work in your financial best interest. Other people who call themselves advisors are only held to a suitability standard, meaning they only must suggest products that are suitable for you—even if they’re more expensive and earn them a higher commission. (The SEC is trying to regulate this, though, by limiting the use of “advisor” to those who hold themselves to a fiduciary standard.)

Regardless of which kind of advisor you choose, you should make sure you know how they earn money. This helps you determine if their recommendations are actually better for you—or for their wallets.

Here’s how to think about the different types of financial advisors:

Fee-Only Financial Advisors

Fee-only financial advisors earn money from the fees you pay for their services. These fees may be charged as a percentage of the assets they manage for you, as an hourly rate, or as a flat rate.

Almost all fee-only advisors are fiduciaries. Generally speaking, they have chosen to work under a fee-only model to reduce any potential conflicts of interest. Because their income is from clients, it’s in their best interest to make sure you end up with financial plans and financial products that work best for you.

Financial Advisors Who Earn Commissions

Some financial advisors make money by earning sales commissions from third parties. Among financial advisors that earn sales commissions, some may advertise themselves as “free” financial advisors that do not charge you fees for advice. Others may charge fees, meaning they derive only part of their income from third-party commissions.

Either way, financial advisors who earn third-party sales commissions derive some or all of their income from selling you certain financial products. If you choose to work with a financial advisor who earns sales commissions, you need to take extra care.

Commission-only advisors are not fiduciaries. They work as salespeople for investment and insurance brokerages, and are only held to suitability standards. In contrast, some fee-based financial advisors are fiduciaries, though it’s important to determine if they’re always acting as fiduciaries or if they “pause” fiduciary duty when discussing certain types of products, like insurance.

Related: Find A Financial Advisor In 3 minutes

Keep in mind, commissions aren’t bad in and of themselves. They’re not even necessarily red flags.

Some financial products are predominantly sold under a commission model. Take life insurance: A fee-based planner who receives compensation for helping you purchase a life insurance policy may still have your best interests at heart when advising on other financial products.

“To be clear, there’s nothing wrong with paying the commission for life insurance,” says Karen Van Voorhis, a fee-based certified financial planner (CFP) and Director of Financial Planning at Daniel J. Galli & Associates in Norwell, Mass. “That’s how the structure of that industry works.”

Purchasing financial products via financial advisors that earn commissions may be a matter of convenience, especially if someone will receive a commission regardless of where you buy the product. What’s important is understanding the difference. And if you work with a fee-based financial advisor, understand when they are acting as a fiduciary, especially when they help you purchase financial products.

Looking For A Financial Advisor?

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Registered Investment Advisors

Registered Investment Advisors (RIAs) are companies that provide fiduciary financial advice. RIAs employ Investment Advisor Representatives (IARs), who are bound by fiduciary duty. An RIA may have one or hundreds of IARs working for it.

IARs may call themselves financial advisors, and may be fee-only or fee-based. Some may have additional credentials, including the certified financial planner (CFP) designation.

“The certified financial planner designation is really the gold standard in the financial planning industry,” says Van Voorhis. A CFP designation indicates a financial advisor has passed rigorous industry exams covering real estate, investment, and insurance planning as well as has years of experience in their fields.

Because of their wide range of expertise, CFPs are well suited to help you plan out every aspect of your financial life. They may be particularly helpful for those with complex financial situations, including managing large outstanding debts and will, trust, and estate planning.


Robo-advisors offer low-cost, automated investment advice. Most specialize in helping people invest for mid- and long-term goals, like retirement, through preconstructed diversified portfolios of exchange traded funds (ETFs).

“For younger people who are really tech savvy, a robo-advisor just to manage retirement funds could be a perfect solution,” says Brian Behl, a CFP at Behl Wealth Management in Waukesha, Wisc. “I don’t think they’re going to get as in-depth advice on insurance and retirement and taxes.”

People with complex financial needs should probably choose a conventional financial advisor, although many robo-advisors provide financial planning services a la carte or for higher net worth clients.

“While the robos have really disrupted the industry…I do think there’s still a place for human advisors right now,” says Corbin Blackwell, a CFP at robo-advisor Betterment.

Betterment, for example, allows clients to purchase individual financial advising sessions, and Personal Capital, Wealthsimple, and Betterment provide regular financial planning for clients with higher account balances for a management fee.

3. Choose Which Financial Advisor Services You Want

Services offered by financial advisors vary from advisor to advisor, but advisors may provide any of the following:

  • Investment advice. Financial advisors research different investment options and make sure your investment portfolio stays within your desired level of risk.
  • Debt management. If you have outstanding debts, like credit card debt, student loans, car loans, or mortgages, financial advisors will work with you to chart a plan for repayment.
  • Budgeting help. Financial advisors are experts in analyzing where your money goes once it leaves your paycheck. Advisors can help you craft budgets so you’re prepared to reach your financial goals.
  • Insurance coverage. Financial advisors may examine your current policies to identify any gaps in coverage or recommend new types of policies, like disability insurance or long-term care coverage, depending on your financial situation.
  • Tax planning. Tax planning involves strategizing ways to decrease the amount of taxes you may pay, like by large charitable donations or tax-loss harvesting. Keep in mind that not all financial planners are tax experts and that tax planning is different from tax preparing. You will probably still need a CPA or tax software to file your taxes.
  • Retirement planning. Financial advisors can help you build funds for the ultimate long-term goal, retirement. And then, once you’re retired or nearing retirement, they can help ensure you’re able to keep your money safe.
  • Estate planning. For those who wish to leave a legacy, financial advisors can help you transfer your wealth to the next generation, whether that’s family, friends, or charitable causes.
  • College planning. If you hope to fund loved ones’ educations, financial advisors can craft a plan to help you save for their higher education.

In addition to investment management and financial planning, financial advisors also offer emotional support and perspective during volatile economic times. During the beginning of the coronavirus pandemic in March of 2020, for instance, client demand for financial advisor contact increased by almost 50% .

Related: Find A Financial Advisor In 3 minutes

“I think that during these times, we can be a source of reason,” says Blackwell. “We can weather the storm. We’ve built this portfolio for a reason.”

When choosing a financial advisor, make sure they offer the services you’re looking for in your financial and non-financial lives.

Looking For A Financial Advisor?

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4. Decide How Much You Can Pay Your Financial Advisor

It used to be that financial advisors charged fees that were a percentage of the assets they managed for you. Today advisors offer a wide variety of fee structures, which helps make their services accessible to clients of all levels of financial means.

Commission-only advisors may seem free on paper, but they may receive a portion of what you invest or purchase as a payment. These “free” financial advisors typically are available through investment or insurance brokerages. Remember, these advisors may only be held to suitability standards, so they may end up costing what you would pay for a similar financial product suggested by a fiduciary financial advisor—or more.

Fee-only and fee-based financial advisors may charge fees based on the total amount of assets they manage for you (assets under management) or they may charge by the hour, by the plan, through a retainer agreement, or via a subscription model. Common average financial advisor fee rates are listed in the table below:

5. Research Financial Advisors

Because financial advisors come in many forms with many different specialties and offerings, you need to thoroughly research potential advisors. You want to make sure the person guiding your financial decisions is trustworthy and capable.

You can find good financial advisors a couple of ways. Ask friends, family and peers for recommendations. Alternatively, look for financial advisors online. Many professional financial planning associations provide free databases of financial advisors:

When evaluating advisors, be sure to consider their credentials as well as research their backgrounds and fee structures. You can view disciplinary actions and complaints filed against financial advisors using FINRA’s BrokerCheck. And remember, just because someone is a part of a financial planning association, that doesn’t mean they’re a fiduciary financial advisor.

Questions to Ask a Financial Advisor

In your first meeting with a financial advisor, make sure you learn the answers to these questions and that you’re comfortable with their responses.

  • Are you a fiduciary?
  • Are you always acting as a fiduciary? (Some fee-based advisors may not always act as fiduciaries when selling commission-based products.)
  • How do you make your money?
  • What is your approach to financial planning?
  • What financial planning services do you offer?
  • What kind of clients do you normally work with?
  • Do you have any account minimums?
  • Do you have any conflicts of interest in managing my money?
  • What information do I need to bring for you to look at when developing my financial plan?
  • How many times and how often will we meet?
  • Will you collaborate with my other advisors, like CPAs or attorneys?

Related: Find A Financial Advisor In 3 minutes

The Bottom Line

Because of the ambiguity in the industry, you have to exercise caution to make sure you get the right financial advisor who meets your fiduciary and financial needs. That said, when you find the right financial advisor for you, they can help you achieve your financial goals and financially protect your loved ones and their futures.

“So much of what I do in a life-centered approach to financial planning and wealth management is walk out life with people,” says Wes Brown, a CFP at CogentBlue Wealth Advisors in Knoxville, Tenn. “I think there’s value in an ongoing relationship where somebody can help you walk through the various waypoints you’re going to come to.

Looking For A Financial Advisor?

Get In Touch With A Pre-screened Financial Advisor In 3 Minutes

Mon, 14 Nov 2022 04:05:00 -0600 John Schmidt en-US text/html
CIMAPRA19-F03-1-ENG exam dump and training guide direct download
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