Top 10 Finance Certifications

Certifications are a great way to stand out in Accounting and Finance. But, with so many of them, it is easy to get confused.

To know which one(s) would work best for you on your own, I recommend you:

• Work with Career Coach or Mentor
• ️ Ask local HR professionals and/or recruiters
• ️ Ask a trusted professional that’s 3+ levels ahead in their career
• Research education requirements on the job descriptions of the roles you are targeting.

I hope this article will help you get the clarity you need regarding the major Accounting and Finance certifications.

Note: This article does not include all the specialized finance certifications, such as the ones for banking, stock trading, and the financial securities licenses.

1. CFA® : Chartered Financial Analyst

• Globally-recognized professional designation and the most respected finance designation in the world of investing.

• Primarily designed for aspiring or practicing investment professionals.
• Requires completing the CFA Institute program, which includes 3 levels of study and 3 exams, covering Asset Valuation, Portfolio Management, and Wealth Planning.
• Average exam passing rate is 43%

Issued by: Chartered Financial Analysts Institute

Renewal: This certification does not expire.

Renewal Requirements: No license renewal required. Annual membership to the CFA Institute required.

2. CFP™ : Certified Financial Planner

• Marketed as the “Standard of Excellence in Financial Planning.”
• Ideal for professionals pursuing a career in investment or wealth management.
• Requires passing a 2-Part exam that mainly covers Financial Planning for High Net Worth Individuals, and The Retail Segment of Investment Management.
• Average exam passing rate is 67%

Issued by: Certified Financial Planner Board of Standards, Inc.

Renewal: Annual renewal required

Renewal Requirements: Renewal Fee — $455. Completion of 30 hours of continuing education (CE) every 2 years, including 2 hours of Ethics.

3. CAIA® : Chartered Alternative Investment Analyst

• Globally-recognized credential for professionals managing, or regulating alternative investments.
• In contrast to CFA Level 1 candidates (who can be as young as a university student), CAIA candidates are typically older and more experienced career-wise.

• Requires passing 2 exams, covering concepts such as, Alternative Investments, Real Assets, Hedge Funds, Private Equity, and Structured Products.
• Average exam passing rate is 63%

Issued by: The CAIA Association

Renewal: This certification does not expire.

Renewal Requirements: CAIA Membership required. Membership Renewal Fee – $100 to $350 depending on membership location and status.

4. ChFC®: Chartered Financial Consultant

• Primarily designed for Financial experts and financial planners.
• Covers a must-have list of requirements for financial advisors, from knowledge on tax and retirement planning to special needs advising, and wealth management.
• The ChFC® doesn’t require students to sit for a board exam. Instead, They take an examination after each of the 8 required courses to ensure comprehension of the material covered before moving to the next class.

Issued by: The American College of Financial Services

Renewal: Professional Recertification Program required every 2 years.

Renewal Requirements: No membership required. Recertification Fee – $50-$125. Proof of completion of 30 Hours of Continuing Education required every 2 years

5. FMVA®: Financial Modeling & Valuation Analyst

• Designed as a flexible education program with 31 courses to choose from, but 14 required to earn the certification.

• Ideal for corporate finance professionals seeking to improve their financial modeling skills.
• Each course has a test at the end. Topics covered include Financial Modeling, Excel, Valuation, Strategy, KPIs, Dashboards, Budgeting and Forecasting.
• Average exam passing rate is 70%

Issued by: Corporate Finance Institute (CFI)

Renewal: This certification does not expire.

Renewal Requirements: No license renewal required. Annual membership to the CFI is encouraged for members to stay up to date.

6. CMT: Chartered Market Technician

• Primarily designed for aspiring or practicing Trading Analysts, Hedge Fund Analyst, Portfolio Risk, and Investment Managers.

• Require completion of an intensive and technical self-study program, including passing a series of three  levels and exams.
• Topics covered include: Statistical & Trend Analysis, Chart & Pattern Analysis, Portfolio Management, and Behavioral Finance.
• Average exam passing rate is 70%

Issued by: The CMT Association (formerly known as MTA)

Renewal: This certification does not expire.

Renewal Requirements: Membership is not required, but encouraged.Continuing education is not required, but encouraged.

7.  FRM®: Financial Risk Manager

• Recognized as leading certification for Risk Managers.
• Ideal for professionals pursuing careers as Risk Analysts, Risk Officers, or other positions in risk management.
• Requires passing a 2-Part exam, covering Valuation and Risk models, Credit Risk Measurement, and Operational Risk Management.
• Average exam passing rate is 50%.

Issued by: Global Association of Risk Professionals (GARP)

Renewal: This certification does not expire.

Renewal Requirements: No license renewal required. Annual membership to GARP is encouraged for members to stay up to date.

8. CFS: Certified Fund Specialist

• Primarily designed for Fund Managers.
• Requires completing a program consisting of six modules, covering concepts such as mutual funds, ETF, and REITs, Closed-end Funds, Advanced Fund Analysis, Asset Allocation, and Portfolio Construction.
• The entire program takes approximately 23 hours of study over 15 weeks to complete.

Issued by: Institute of Business and Finance (IBF)

Renewal: This certification does not expire.

Renewal Requirements: IBF annual membership required.Membership Renewal Fee – $125. 30 Hours of Continuing Education required every 2 years.

9. FPAC™: Certified Corporate FP&A Professional

• One of the few designations specifically geared toward Financial Planning & Analysis (FP&A).
• Ideal for professionals transitioning to or interested in FP&A leadership roles.
• Requires passing a 2-Part exam, covering several topics, including Business Partnering, Data Visualization, Data Mining, Excel, and Financial Modeling.
• Passing rate ranges from 41% to 63% depending on the exam.

Issued by: Association for Financial Professionals (AFP)

Renewal: Recertification required every 3 years

Renewal Requirements: Renewal Fee – $85 to $275 depending on AFP membership status and recertification method (paper or online).Submitting proof of completion of 45 continuing education credits.

10. AFM : Advanced Financial Modeler

• Primarily designed to demonstrate Advanced Microsoft Excel knowledge, Financial Analysis and Financial modeling skills.
• Candidates are provided with a case study to work inside Excel, building an integrated 3-statement model of a company from scratch during a 4-hour virtual exam.
• There are no educational or work experience requirements to get this certification.
• Average exam passing rate is between 40-60%.

Issued by: Financial Modeling Institute (FMI)

Renewal: This certification does not expire.

Renewal Requirements: None required

Every country/every industry has its preferred certifications, so do your research to determine what may work best for you.

Do not forget to develop your non-technical skills. They are just as crucial as technical skills and certifications when it comes to career success.