What is an Accredited Asset Management Specialist?

Individuals who have completed a course of study on financial planning that encompasses investments, insurance, tax, retirement and other financial related studies are called financial professionals. Accredited Asset Management Specialist (AAMS) is a professional designation or certificate given to financial professionals that have completed a self-study program in the College for Financial Planning (CFP). CFP awards this professional designation to those who have completed the study, passed the exam and agree to abide by code of ethics.

Who are Accredited Asset Management Specialists?

Financial professionals who have completed their study are awarded AAMS by the College of Financial Planning (CFP). Holders of this professional designation can use the AAMS for two years to get substantial jobs. They also enjoy professional reputation of prestige. AAMS started in 1994, CFP now administers or runs the self-study program on their online platform. Individuals who want to work at professionals in the financial service industry can enroll for the program which contains 12 modules, sit for the exam and agree to live by the codes of ethics binding other professionals. Once they have successfully done this, CFP awards them with Accredited Asset Management Specialist (AAMS) certificate.

AAMS Recognition and Continuing Education

AAMS is listed by a professional designation by the Financial Industry Regulation Authority (FINRA), although, FINRA does not endorse any professional designation. The AAMS program covers a wide range of financial topics, it consists of 12 modules covering topics, such as investments, insurance, retirement, taxation, estate planning and others. Aside from AAMS being approved by FINRA, it is also seen as a form of continuing education by many organizations in the financial industry. AAMS professional designation comes with a continuing education for individuals interested in this certification. They must complete 16 hours of continuing education every two years and pay a fee. Courses of topics taught in this program are based on real life happenings.

AAMS Course Content and Examination

Undergoing courses in the financial planning self-program does not automatically guarantee that an individual would be awarded with AAMS. Participants must sit for an exam covering all topics treated in the course such as investment strategies, investors, policy and change; risk, return and investment performance and others. Only individuals who pass the exam can be referred to as certified financial professionals and can be awarded AAMS. In addition to passing the exam, these professionals must agree to uphold the codes of ethics of the profession. Professionals with the AAMS designation can work in different capacities such as investment advisors, financial advisors, registered representatives and financial consultants.