CWM® : Certified Wealth Manager

CWM is administered by AAIFM (The American Association for Investment and Financial Management); one of the most renowned associations for financial management and investment in the United States. By earning CWM candidates demonstrate that they have mastered the Wealth management body of knowledge, obtained the skills of Wealth management, and committed to AAIFM core values and code of ethics. Earning your CWM designation not only broadens your skill set, it demonstrates a standardized level of industry knowledge, making you a recognized leader in investment management.

CWM Certification Preparation

If you are studying in order to prepare for the CWM exam; AAIFM provides candidates with training sessions for many of the exam questions. AAIFM also provide thorough training for the exam modules using its learning system through authorized training providers and prometric centers worldwide.

AAIFM CWM Recertification

Once you have passed the CWM exam and received your certification, you will need to stay up to date on developments in Wealth management practices. To prove you have maintained and updated your Wealth management knowledge and skills, AAIFM requires that you recertify every 4 years. (please refer to recertification for more info)


  • A passing score on the CWM Examination.
  • Bachelor Degree in any field and;
  • A minimum of two years experience in any related Wealth and private banking areas (Wealth management, portfolio management, finance, accounting, investment…).
  • A Minimum of 30 hours of wealth management approved training.

Exam Format:

The CWM (Certified Wealth Manager) examination is a 3-hour exam, multiple essay and case study questions examination. The exam is given in booklet form.

Exam Outline:

  1. Global Market Overview.
    • The wealth management market.
    • Key drivers.
    • Industry economics.
    • Competitive landscape.
  2. Industry Challenges: New and Old.
    • Clients.
    • Products, pricing and channels.
    • Competitors and business models.
    • External environment.
    1. 3. Clients.
    • Key characteristics.
    • Client segmentation.
    • Client value management.
  3. New Products and Pricing.
    • New products and services.
    • Product sourcing and management.
    • Pricing.
  4. Distribution Channels.
    • Relationship managers.
    • Other traditional channels.
    • New and emerging channels.
    • Multichannel management.
  5. Players.
    • Types of players.
    • Business system upheaval.
    • Consolidation.
  6. Operational Excellence.
    • Smart operational sourcing.
    • Lean operations.
    • Technology transformation.
    • Value-added support services.
    • Instilling operational excellence.
  7. Organisational Design.
    • Organisational structure.
    • Business unit interfaces.
    • International dimension.
  8. Regulatory and Tax Issues.
    • Money laundering vulnerability.
    • Regulatory initiatives.
    • Tax initiatives.
  9. The Future.
    • Sources of new profitable growth.
    • Future industry structure.
    • Critical success factors.


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