CFA UK: IMC
The IMC: The foundation for a successful
career in the investment profession
T
he Investment Management • Investment systems and IT. mean that those who need to qualify fast
Certifi cate (IMC) is the most Th e IMC also off ers a popular can do so. Th ose who are unsuccessful
widely recognised and best progression route for those with can re-sit quickly.
established qualifi cation of its kind in the established careers and qualifi cations in:
UK. Taken by staff in the leading • Investment operations; A MARK OF PROFESSIONALISM
investment fi rms, the IMC is the • Retail investment advice On successful completion IMC candidates
industry’s benchmark entry-level (Independent Financial Advisors); have access to membership of the CFA
qualifi cation. It is listed for regulatory • IT specialists and business analysts. Society of the UK and can join a network
purposes by the FSA. of over 8,000 committed investment
Th e IMC programme off ers an APPROPRIATE CHALLENGE professionals. Along with a host of
excellent foundation to careers in the Th e IMC involves a challenging but membership benefi ts, IMC members have
investment industry. It provides essential realistic study load. Th e programme the right to use the IMC designation.
information on markets, accounting, requires around 120 hours of study Th e IMC provides the ideal
economics and statistics. It also covers the (depending on previous experience). foundation for those with future plans
full range of fi nancial instruments and Candidates in full-time employment for the CFA Program. In many leading
established approaches to investment typically complete the programme in fi rms the IMC is used as an entry
portfolio management. On completion three to six months. It is an accessible requirement for CFA sponsorship. IMC
students are able to identify client goal for undergraduate candidates candidates cover 30% of the CFA Level I
objectives, understand tax implications but is most commonly pursued by curriculum (see chart). Th ey develop
and the regulatory context of their work. graduate trainees study and exam techniques, and gain a
Training from the leading fi nancial highly regarded qualifi cation early on
ESSENTIAL REGULATORY STATUS training companies is available all year the road to CFA charterholder status.
Th e IMC is formally listed, for regulatory round. Th e CFA UK Offi cial Training Candidates who have already
purposes, to cover the following roles: Manual is optional for purchase (£130), completed CFA Level I are exempt from
• Managing investments; is designed for self-study and provides IMC Unit 2. Th is gives a fast and
• Advising and dealing in securities and the text on which the exam is set. convenient solution to those needing UK
derivatives; Computer delivery throughout the year, regulatory status during the course of
• Broker fund advising; fl exible booking and results in three days their CFA Program.
Cg
• Advising on investments in the course
of corporate fi nance business.
PROGRAMME PATH
WHO TAKES THE IMC?
IMC candidates come from a broad range
of backgrounds with an equally broad
range of aspirations. It is generally
CFA Institute Chartered Financial Analyst
considered appropriate for anyone
entering an investment-related job role.
CFA Level III
Typically roles will include:
(6 hour written exam)
• Investment management and analysis
CFA Level II
• Marketing and sales in investment fi rms;
• Investment administration and
Investment Management Certificate
(6 hour multiple-choice and written exam)
performance measurement;
IMC Unit 2: Investment Practice CFA Level I
• Private client wealth management and (2 hour multiple-choice exam)
(6 hour multiple-choice exam)
institutional investment advice;
• Compliance and audit;
IMC Unit 1: Regulations and Markets
IMC candidates cover 30% of
(1.5 hour multiple-choice exam) the CFA Level I curriculum
• Trading;
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