The number of affluent Canadians has doubled over the past decade and many of these individuals are nearing or have already transitioned into retirement.
Private banking/wealth management is one of the fastest growing sectors within the financial services industry. Global wealth has been rapidly increasing and is expected to grow at a steady pace in the years to come. Never before has there been such a demand for expert wealth managers. Today's high net worth clients want sound advice from someone who understands their complex and changing needs.
To meet this demand CSI has partnered with the Swiss-based Association of International Wealth Management (AIWM) to offer a strategic wealth designation program that meets the changing needs of today's financial services industry. As the global standard for strategic wealth management, the path to the Certified International Wealth Manager designation includes courses and certifications to help you grow your relationships with today's high net worth clients.
HOW WILL THE CIWM HELP?
The CIWM is designed to prepare students to manage the complex requirements of affluent clients. Upon successful completion of the CIWM Certification Exam candidates are eligible to apply for the Certified International Wealth Manager designation and be ready to:
- Build and manage client relationships that result in a successful partnership
- Establish and implement wealth accumulation and management strategies
- Collaborate with clients to preserve wealth and optimize the conversion of assets into income
- Develop and implement a wealth transfer plan that reflects client wishes
- Coordinate and monitor a team of experts to provide a fully integrated, well-rounded wealth management service
- Apply business marketing techniques to build a successful practice
WHAT IS THE PATH TO THE CIWM?
Dealing with High Net Worth Clients Program
The Dealing with High Net Worth Clients Program, consists of the following five courses:
Each course consists of a series of modules (6 to 10 modules depending on the course) covering specialized topics within that competency domain. The modules range in length from 0.5 to 6 hours. Each module concludes with an online test. Completion of that test earns the learner multi-jurisdictional CE credits. Students thus earn CE credits incrementally as they work their way through the course. Completion of all online tests within a course earns the learner a course completion notice along with a micro-certificate which is represented to the student in the form of a digital badge.
Please note that enrolment in the Dealing with High Net Worth Clients Program is open to anyone. There are no pre-requisites.
For more information on the composition of the Dealing with High Net Worth Clients Program click here.
Equivalents/Exemptions
| Course Exempted | Course that gives exemption | CSI Certificate that gives exemption | External certification that gives exemption* |
|---|---|---|---|
| Retirement Planning for High Net Worth Clients | Advanced Retirement and Estate Planning Strategies | Certificate in Retirement Strategy | |
| Advanced Retirement Management Strategies | |||
| Investment Strategies for High Net Worth Clients | Advanced Investment Strategies | Certificate in Advanced Investment Advice | Chartered Financial Analyst (CFA) |
| Investment Management Techniques | CIM or CIM® | ||
| Estate Planning for High Net Worth Clients | Advanced Retirement and Estate Planning Strategies | Certificate in Estate Planning and Trust Strategy | Chartered Life Underwriter (CLU) |
| Advanced Estate Planning and Trust Strategies | Trust and Estate Practitioner (TEP) |
CIWM Certification Exam
To be eligible for enrolment in the CIWM Certification Exam, you must meet the pre-requisite requirements and complete the Dealing with High Net Worth Clients Program.
- The pre-requisite requirements:
- Candidates must hold either a Financial Planning (PFP®, CFP®, QAFP, CLU or IQPF) or Investment Management (CIM®, CIM or CFA®) designation, or
- have completed CSI's Wealth Management Essentials (WME®) Course
The CIWM Certification Examination will assess your expertise in developing strategies and relationships with high net worth clients. The examination has three components based on a high net worth client scenario to be completed over the course of 60 days. The level of effort required is estimated at 25-35 hours. For more information of the CIWM Certification Examination, click here.
The Dealing High Net Worth Program (or equivalent) must be completed not more than 5 years prior to application to write the CIWM Certification Examination. Exemptions can be granted for courses offered by other education providers.
Individuals must apply for the CIWM designation within 5 years of successfully completing the CIWM Certification Examination.
Experience Requirement to Earn the CIWM Designation
Candidates applying for the CIWM Designation, must have at least 3 years of experience working directly with, or in support of, the wealth management needs of retail clients.
*External Designation Recognitions are subject to CSI's External Designation Recognition policy and fees.
Who Should Enrol?
The CIWM designation program is designed for individuals with extensive experience in the financial services advisory professions, working within a securities or mutual fund dealers, banks, and other financial institutions in the capacity of:
- Investment advisors
- Financial advisors
- Financial planners
- Private bankers