Vector Wealth Management employs professionals with a variety of professional designations focused on financial planning and continuing education.
Education and Business Standards
Vector Wealth Management generally requires successful completion of university study and/or its educational or business equivalent for its advisors. Investment professionals demonstrate their knowledge and skills by either business background, education, professional designations or any combination thereof. Generally, weight will be given to candidates with advanced professional certifications in the financial services industry.
Professional Certifications
Employees have collectively earned the following certifications and credentials that are required to be explained in further detail.
Accredited Asset Management Specialist (AAMS® ) Individuals who hold the AAMS® designation have completed a course of study encompassing investments, insurance, tax, retirement, and estate planning issues. The program is designed for approximately 120-150 hours of self-study. The program is self paced and must be completed within one year from enrollment.
Accredited Investment Fiduciary® (AIF®) The AIF® designation certifies that the recipient has specialized knowledge of fiduciary standards of care and their application to the investment management process. The certification is administered by the Center for Fiduciary Studies, LLC (a Fiduciary360 company). AIF® designation requirements are: • Complete a training program; • Pass a comprehensive, closed-book final examination under the supervision of a proctor; • Agree to abide by the AIF® Code of Ethics; • Complete six hours of continuing education credits every year; and • Renew, on an annual basis, affirmation of the AIF® Code of Ethics.
Certified Divorce Financial Analyst (CDFA® ) CDFA® practitioners must have a minimum of three years work experience in a financial or legal capacity prior to earning the right to use the CDFA certification mark. CDFA candidates must also develop their theoretical and practical understanding and knowledge of the financial aspects of divorce by completing a comprehensive course of study approved by the Institute for Divorce Financial Analysts™ (IDFA™). CDFA candidates must complete a four-part Educational Curriculum and Certification Exam that tests their understanding and knowledge of the financial aspects of divorce. The candidate must also demonstrate the practical application of this knowledge in the divorce process by completing a comprehensive case study. CDFA practitioners agree to abide by a strict code of professional conduct known as the IDFA Code of Ethics and Professional Responsibility, which sets forth their ethical responsibilities to the public, clients, employers and other professionals. CDFA practitioners are required to maintain technical competence and to fulfill ethical obligations. Practitioners must pay an annual reinstatement fee. Every two years, they must complete a minimum of fifteen (15) hours of continuing education specifically related to the field of divorce.
CERTIFIED FINANCIAL PLANNER®
Vector team members certified for financial planning services in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”), may refer to themselves as a CERTIFIED FINANCIAL PLANNER® professional or a CFP® professional, and may use these and the other certification marks (the “CFP Board Certification Marks”) that Certified Financial Planner Board of Standards Center for Financial Planning, Inc. has licensed to CFP Board in the United States. The CFP® certification is voluntary. No federal or state law or regulation requires financial planners to hold the CFP® certification. You may find more information about the CFP® certification at www.cfp.net. CFP® professionals have met CFP Board’s high standards for education, examination, experience, and ethics. To become a CFP® professional, an individual must fulfill the following requirements:
Education – Earn a bachelor’s degree or higher from an accredited college or university and complete CFP Board-approved coursework at a college or university through a CFP Board Registered Program. The coursework covers the financial planning subject areas CFP Board has determined are necessary for the competent and professional delivery of financial planning services, as well as a comprehensive financial plan development capstone course. A candidate may satisfy some of the coursework requirement through other qualifying credentials. CFP Board implemented the bachelor’s degree or higher requirement in 2007 and the financial planning development capstone course requirement in March 2012. Therefore, a CFP® professional who first became certified before those dates may not have earned a bachelor’s or higher degree or completed a financial planning development capstone course.
Examination – Pass the comprehensive CFP® Certification Examination. The examination is designed to assess an individual’s ability to integrate and apply a broad base of financial planning knowledge in the context of real-life financial planning situations.
Experience – Complete 6,000 hours of professional experience related to the personal financial planning process, or 4,000 hours of apprenticeship experience that meets additional requirements.
Ethics – Satisfy the Fitness Standards for Candidates for CFP® Certification and Former CFP® Professionals Seeking Reinstatement and agree to be bound by CFP Board’s Code of Ethics and Standards of Conduct (“Code and Standards”), which sets forth the ethical and practice standards for CFP® professionals.
Individuals who become certified must complete the following ongoing education and ethics requirements to remain certified and maintain the right to continue to use the CFP Board Certification Marks:
Ethics – Commit to complying with CFP Board’s Code and Standards. This includes a commitment to CFP Board, as part of the certification, to act as a fiduciary, and therefore, act in the best interests of the client, at all times when providing financial advice and financial planning. CFP Board may sanction a CFP® professional who does not abide by this commitment, but CFP Board does not guarantee a CFP® professional's services. A client who seeks a similar commitment should obtain a written engagement that includes a fiduciary obligation to the client.
Continuing Education – Complete 30 hours of continuing education every two years to maintain competence, demonstrate specified levels of knowledge, skills, and abilities, and keep up with developments in financial planning. Two of the hours must address the Code and Standards.
Certified Investment Management Analyst® (CIMA®)
Use of CIMA®, and/or Certified Investment Management Analyst® signifies that the user has successfully completed the Institute’s initial and ongoing credentialing requirements for investment management professionals. The CIMA® designation is a professional certification for financial professionals specializing in asset management, financial planning, and investment advisory services. The CIMA® program, administered by the Investments & Wealth Institute, provides advanced knowledge and skills in portfolio management, risk management, investment policy creation, and performance measurement. To earn CIMA® certification, candidates must complete an in-person or online executive education program at an AACSB-accredited university business school, and pass an online Certification Examination. They must also have three years of financial services experience at the time of certification, adhere to a strict code of ethics, pass a background check, and complete 40 hours of continuing education every two years to maintain their certification.
Chartered Financial Analyst™ (CFA® ) Currently offered and recognized by the issuing organization CFA Institute. Prospective candidate must meet one of the following requirements: Be in the final year of a bachelor’s degree program, OR Have four years of professional work experience, OR Have a combination of professional work and university experience that totals at least four years. Education Requirements: Self-study program (250 hours of study for each of the three levels), Pass all three exams, AND Four years of professional work experience in the investment decision-making process (accrued before, during, or after participation in the CFA Program). Examination Type: Three six-hour course exams. Continuing Education Requirements: None
Chartered Financial Consultant (ChFC®) The ChFC® designation is a financial planning credential awarded by the American College to individuals who satisfy its educational, work experience and ethics requirements. Recipients of the ChFC® certification have completed at least seven mandatory college-level courses in the areas of financial, insurance, retirement and/ or estate planning, as well as income taxation and/or investments. Additionally, recipients have completed at least two elective courses on the financial system, estate planning applications, executive compensation, and/or retirement decisions. In order to maintain the designation, ChFC® holders must satisfy the ongoing requirements of the Professional Achievement in Continuing Education (“PACE”) Recertification Program, which includes continuing education on an ongoing basis.
Chartered Retirement Planning CounselorSM (CRPC® ) Individuals who hold the CRPC® designation have completed a course of study encompassing pre-and post-retirement needs, asset management, estate planning and the entire retirement planning process using models and techniques from real client situations. Additionally, individuals must pass an end-of-course examination that tests their ability to synthesize complex concepts and apply theoretical concepts to real-life situations. All designees have agreed to adhere to Standards of Professional Conduct and are subject to a disciplinary process. Designees renew their designation every two-years by completing 16 hours of continuing education, reaffirming adherence to the Standards of Professional Conduct and complying with self-disclosure requirements.
Financial Paraplanner Qualified Professional (FPQPTM) Individuals who hold the FPQPTM designation have completed a course of study encompassing the financial planning process; the five disciplines of financial planning; and general financial planning concepts, terminology, and product categories. The program is designed for approximately 80-120 hours of self-study. The program is selfpaced and must be completed within one year from enrollment.
Retirement Income Certified Professional® (RICP®) The RICP® designation teaches advisers techniques and best practices to create sustainable retirement income streams. The education covers retirement income planning, maximizing Social Security and other income sources, minimizing risks to the plan, and managing portfolios during asset distribution. The designation requires at least three years of professional experience. Participants must pass a closed-book, proctored final course exam for three required college-level courses to earn the designation, representing a total average study time of more than 150 hours. In addition, RICP® designees must meet continuing education requirements (15 hours every two years) and ethics requirements. The American College, a non-profit educator, awards this credential.
Attribution Statements
Vector Wealth Management employs professionals with a variety of professional designations focused on financial planning and continuing education. The following attribution statement aims to credit trademark, registered trademark, and registered service mark owners.
Accredited Asset Management Specialist (SM) (AAMS®)
ACCREDITED ASSET MANAGEMENT SPECIALIST (SM) and AAMS® are trademarks or registered service marks of the College for Financial Planning in the United States and/or other countries.
Accredited Investment Fiduciary® (AIF®)
Accredited Investment Fiduciary® and AIF® are registered trademarks of the Center for Fiduciary Studies, a division of fi360, Inc.
Chartered Financial Analyst® (CFA®)
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Chartered Financial Consultant (ChFC®)
Chartered Financial Consultant® and ChFC® and are registered trademarks of The American College, Bryn Mawr, Pennsylvania.
CERTIFIED FINANCIAL PLANNER™ (CFP®)
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
Certified Investment Management Analyst® (CIMA®)
Investments & Wealth Institute® (the Institute) is the owner of the certification marks “CIMA,” and “Certified Investment Management Analyst.”
Chartered Retirement Planning CounselorSM (CRPC®)
Chartered Retirement Planning CounselorSM and CRPC® are trademarks or registered service marks of the College for Financial Planning in the United States and/or other countries.
Financial Planning Association® (FPA®)
Financial Planning Association® and FPA® are registered trademarks of the Financial Planning Association.
Financial Paraplanner Qualified Professional™ (FPQP™)
previously known as Registered ParaplannerSM
FINANCIAL PARAPLANNER QUALIFIED PROFESSIONAL™ and FPQP® are trademarks or registered service marks of the College for Financial Planning in the United States and/or other countries.
*Note: Vector does not currently have any team members with the CPA designation.