Rainier Trinidad Featured as a Guest Financial Panelist at the Rotary Club of Coronado
I was asked the other day, “How many financial advisors are there in the US, and what percentage of them have the CFA designation?”
It was a good question that I didn’t know the answer to, so I started looking around the web and found this from the Bureau of Labor Statistics:
Number of Personal Financial Advisors (2012): 223,400
And on the CFA Institute website, CFA members and charterholders held the following occupations:
Portfolio Manager: 22%
Research Analyst: 15%
Chief-Level Executive: 7%
Consultant: 6%
Risk Manager: 5%
Corporate Financial Analyst: 5%
Relationship Manager: 5%
Financial Advisor: 5%
So doing some very rough math:
According to the website referenced above, there are over 123,000 CFA Institute members worldwide, of which 94% are CFA charterholders. That leaves about 115,620 with the CFA designation.
Now based on the geographic distribution of CFA Institute members, 65% of them are in North America, so 65% of 115,620 leaves us with 75,153 in North America with the charter. If 5% of those are financial advisors, that leaves us with 3,757. The website doesn’t break it down any further than just North America, so you’ll have to guess what percentage of the 3,757 are in the US.
If you bend it as much as you can and say they are all in the US, then 3757 out of 223,400 (yes, the years are imprecise), you get about 1.7% of financial advisors in the US with the CFA designation. The number could be less, it could be more, but that’s the rough math.
(Posted July 22, 2015)
—————————— About Parabolic Asset Management ——————————-
Fee-Only. Fiduciary. Cost-Effective.
• Experienced: Over 15 years of experience, spanning three bull markets and two bear markets. Managed $100 million at Wells Fargo’s Wealth Management division and co-managed a $50 million hedge fund.• No Conflicts Of Interest: You get unbiased advice because we don’t sell commissioned products. Fee is 1% of AUM (learn more).
• Your Interests Come First: We are held to the Fiduciary Standard, not the Suitability Standard.
• Avoid High Expenses: Index funds have up to 90% lower fees than actively-managed mutual funds and outperform them over the long term. Don’t own them? You may be paying too much.
• Held to the CFA Code of Ethics: Our firm believes in operating with integrity and abiding by the highest ethical and professional standards in the industry.
Rainier Trinidad, CFA
San Diego and Coronado’s Fiduciary Financial Advisor
Parabolic Asset Management
206 J Avenue
Coronado, CA 92118
rainier@parabolic.us
(619) 888-4070
Investment Risk Disclaimers: (i) Investments involve risk and are not guaranteed to appreciate, and (ii) Past performance is no guarantee of future results.
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