Industry News

The new framework defines the credentials deemed critical for advising wealthy clients

By Beatrice Paez |

The Denver-based Investment Management Consultants Association (IMCA) has developed a new framework designed to keep financial advisors apprised of the skills needed to meet the ever-evolving needs of high net-worth (HNW) investors.

The IMCA, which positions itself as an education platform for advisors, produced this new "matrix" that will define the credentials deemed critical to working with HNW clients. The matrix's development was based on a "continuous analysis" of the tasks that its members regularly perform.

"The matrix focuses on key subject areas to blend the best of theory and applied practices," says Sean Walters, CEO of IMCA, in a statement. "We use the insights our members provide to refine and develop our educational products, test them to meet rigorous standards, evaluate them for improvement."

Statistical and economic fundamentals, portfolio construction, behavioural finance, risk- and wealth-management strategies and advising HNW clients are among the topics featured in the framework.