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Financial Planning
Investment Fiduciary Consulting
Investment Management Consulting
Investment/Portfolio Management
Estate/Wealth Transfer Planning
Life Underwriting
Philanthropic Planning
Trust Services
Taxation
Accounting
Law
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Disciplines of Wealth Management
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Managing wealth is a complex and interdisciplinary endeavor that requires substantial resources of intellectual capital. Intellectual capital is a demonstrably competent understanding of a body of knowledge. Competence ranges from a baseline level of understanding to levels of mastery that enable application, synthesis and innovation.
Professional competence is demonstrated by intensive academic preparation to achieve certification, accreditation and charter by independent organizations of practitioners whose abilities contribute to achievement and advancement within the respective body of knowledge. In addition to possessing specialized knowledge, professionals practice commercially within the body of knowledge and attest to abide by a code of ethics.
Wealthholders each have unique profiles, circumstances and needs, and may require the assistance of one or more of the following types of professionals in the allied disciplines of wealth management. It is essential to supporting a client's desire for the targeted results of their planning and management efforts to encourage active participation and collaboration among each of their professional wealth advisors.
There are ten mainstream allied disciplines of wealth management. Listed below are the leading independent professional industry certifications for each discipline.
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Financial Planning
Certified Financial PlannerTM  — is qualified in: comprehensive financial planning; investments; retirement planning; income, gift and estate tax planning; retirement planning; and estate transfer planning. The Certified Financial Planner® designation is conferred by the Certified Financial Planner Board of Standards, Inc.
Chartered Financial Consultant (ChFC) — is qualified to provide assistance with comprehensive financial and business planning, including: creating and conserving wealth, retirement and estate planning; income, gift and trust taxation. The Chartered Financial Consultant designation is conferred by the American College.
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Investment Fiduciary Consulting
Accredited Investment Fiduciary Analyst (AIFA) — has acquired a specialized understanding of the 22 practices that the Foundation for Fiduciary Studies has developed, is familiar with the case law that was used to develop the practices, is able to examine Investment Policy Statements, trust documents, custodial statements, and other documents that should be used in the investment management process, and has an understanding of basic accounting principles.
Investment Management Consulting
Certified Investment Management Analyst (CIMA) — is qualified to provide professional assistance with investment manager search and selection, formulation of investment policy and asset allocation guidelines, implementation of investment process and investment performance measurement. The Certified Investment Management Analyst designation is conferred by the Investment Management Consultants Association.
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Investment/Portfolio Management
Chartered Financial Analyst (CFA) — is qualified in the professional practice of financial analysis, investment management, or securities analysis with a focus on collecting, evaluating, or applying financial, economic or statistical data as part of the investment decision-making process. The CFA designation is conferred by the CFA Institute.
American College of Trust & Estate Council Fellow — is an attorney qualified in the preparation of wills and trusts; estate planning; probate procedure and administration of trusts and estates of decedents, minors and incompetents. A lawyer cannot apply for membership in the College. Fellows are selected on the basis of professional reputation and ability in the fields of trusts and estates and on the basis of having made substantial contributions to these fields through lecturing, writing, teaching, and bar activities.
Arizona Bar Association Estate & Trust Law Specialist — is an attorney qualified in rendering advice concerning state and federal estate, gift and generation-skipping transfer tax consequences of personal and business transactions; the preparation of wills and trusts; estate transfer planning; probate procedure and administration of trusts and estates of decedents, minors and incompetents; rendering advice regarding asset valuation; rendering advice regarding business succession; rendering advice regarding application for public benefits; and acting as trial counsel in related matters.
Accredited Estate Planner (AEP) — has acquired a specialized level of knowledge in estate transfer planning. The Accredited Estate Planner designation is conferred by the Richard D. Irwin Graduate School at the American College and administered by the National Association of Estate Planners and Councils.
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Life Underwriting
Chartered Life Underwriter (CLU) — is qualified to provide professional assistance with life, disability, and long-term care insurance, and the role of these products in financial, estate, retirement, business and employee benefit plans. The Chartered Life Underwriter designation is conferred by the American College.
Chartered Adviser in Philanthropy (CAP) — is qualified to provide professional assistance with the technical aspects of estate planning, trusts and charitable giving, as well as the non-technical aspects of fundraising, including communication and motivation. The Chartered Adviser in Philanthropy certificate is conferred by the Richard D. Irwin Graduate School at the American College.
Certified Trust Adviser and Financial Adviser (CTFA) — is qualified to provide professional assistance with various facets of delivering fiduciary services relating to trusts, estates, guardianships, IRAs and individual asset management accounts that may include providing administrative, investment management, tax, and legal services. The CTFA designation is conferred by the Institute of Certified Bankers, an affiliate of the American Bankers Association.
Tax Law Certified Specialist — is an attorney qualified in rendering advice as to federal tax consequences of personal and business transactions, employee benefit plans, and tax planning of estates and trusts; and acting as trial counsel in related matters. The Tax Law Certified Specialist is conferred by the Arizona Bar Association.
Certified Public Accountant (CPA) — is qualified to perform comprehensive accounting, auditing and reporting for individuals and businesses and management consulting, tax planning and preparation, personal financial planning, valuation services, elder care services and compliance. The Certified Public Accountant designation is conferred by individual state boards of accountancy.
Attorney — is qualified to prepare documents intended to affect or secure legal rights for any specific person or entity; prepare or express legal opinions; represent specific persons or entities in a judicial, quasi-judicial, or administrative proceeding, or other formal dispute resolution process such as arbitrations and mediations; prepare documents for filing in any court, administrative agency or tribunal for specific persons or entities; and negotiate legal rights or responsibilities for specific persons or entities. Licenses to practice law are granted by the individual states.
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