The CIWM designation is geared to high-net worth investors, offering advisors the knowledge and practical skills essential to properly service these clients, according to CSI. Training focuses specifically on investments, risk management, domestic and international taxation, retirement strategies, estate and trust planning, and client relationship management.
But the designation is not for just any advisor. According to Beyer, CIWM isn't for the entry-level advisor, but rather for a professional who has been in the business for a number of years.
“(The accreditation) is for those advisors who want to move and advance their practice and bring it to the next level,” he says.
Bakish feels the international designation could be misleading for advisors, who may become overzealous about their credentials.
“The initiative is good, but there should be caution in providing over confidence in an advisor’s ability," says Bakish. "Having international accreditation implies you are well-versed in multiple countries' rules. It’s complicated enough to know the Canadian tax system, let alone those systems in multiple countries.”
With the Canadian launch, advisors with the Chartered Strategic Wealth Professional (CSWP®
) designation will be automatically transitioned to CIWM.
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