Don’t you think the fact that you are required to take CE for all your credentials increase the value of them? I do. You could argue the added perceived value is unjustified (since some that hold the credential don’t take CE seriously and get nothing out of it), but still, it can only add value. And, I don’t see a problem with having CE give you credit for more than one credential at a time. if it is relevant to both credentials.
Except for the obvious fact that all additional things an organization is required to do it will charge more for. I would imagine dues would increase in order to maintain all the records, along with being charged for CE. Maintianing that people are completing CE is really just to cover the organizations butt. CE programs are well intentioned but in execution a complete joke. It should be left to your members to keep themselves educated and current, as there are so many ways one can do that.
Although they take my word for it and don’t verify it, I view it as a 20 hour per year CE requirement. I’ve never answered “No” though, so I don’t know what happens if someone answers “No”.
I always answer “No.”
I still get all of the CFA Institute e-mails, my account’s not frozen, and they promptly answer my annoying e-mails, so everything appears in statu quo.
What about for those of us charterholders who are students and already taking classes in those areas as well as professional responsibility courses, doing pro bono work? Everyone’s situation is so much different and it would place an administrative burden on the CFAI which would lead to higher dues.
CFA mark is a golden standard, you already showed at least 4 years experiance, passed exams (hard exams) - you dont need to earn CE to maintain it. Value of CFA charter is so understandable and solid that CE will only drop this value. You dont need CE to hold diploma from your universaty etc - CFA charter is the same thing. Topic starter is troll. CFA charter stands out of other rubish alphabet soup with CE and other money leechers.
*eye roll*
Pretty obvious he was trying to have a rational discussion about it. It’s something I’ve wondered and I’ve had people who know I’m in the program ask me if there is any CE involved after. Not a ridiculous question in the least bit.
But hey way to be absurdly defensive about it.
Agreed I think it was a completely legit question and I think there was a solid discussion about it. I can see and understand both sides of the arguement better now. Good topic.
Don’t get how CE drops the value of the charter, but that should be something that should be examined thoroughly before any changes are to be made. But it goes against the CFAI stance (they explicitly recommend CE) and common sense. I assure you I’m not a troll; I’m a smurf.
+1
you joker you
Presumably current members don’t want to take on an additional burden and that’s why it doesn’t pass. Basically grandfathering laziness.
Given how tough it is to get the charter, my guess is that a CFA charter holder with no CEs is still better qualified to do what they do financially than many other programs that have that requirement.
I agree that if I were designing a curriculum for a designation like the CFA, it would look better if there were a CE requirement. But the CFA was not designed in an era when there were many competing designations and so neither had it at the start nor evolved it afterwards due to the first point above.
I think most charterholders are probably motivated enough to keep up with markets that they do aquire new knowledge to do their jobs. The exceptions probably being very senior people for whom the CFA designation is no longer all that relevant to an evaluation of their competence: they either have experience and a track record to show it, or they don’t.
Something else to remember–the CFA Charter is not a license to practice. So they don’t really have any teeth when it comes to enforcement.
If I don’t do my CPA continuing ed, then the State Board yanks my license. Ouch.
If I don’t do my Series 7 continuing ed, then FINRA yanks my license. Ouch.
If I don’t do my insurance continuing ed, then the state Dept. of Insurance yanks my license. Ouch.
If I don’t do my CFA continuing ed, then…I still have the giant certificate hanging on the wall, and I can still tell employers that I used to be a charterholder (whatever that’s worth), and I can still probably put CFA on my business cards and CFAI will never really know. The only thing they know is that I’m going to stop paying dues.
Is this still relevant in 2019 and so on Sir?