CFA work experience

Question

I'm considering Level 1 enrollment. I currently work in the public sector.   I have prior financial world work experience; however, it was on a trading floor.  My new career has provided an opportunity for me to start a fee based financial advising business.  I plan on eventually taking the CFP exam as well. Since I do not have any formal schooling in finance, I feel that the CFA is the best option for me.  However, I will not be able to gain the work experience until after the completion of Level 3.  Furthermore, since I work full-time, I will only be able to gain part-time financial advising experience.   Is the CFA a viable option, or is there another way?

Zee Tan · Answer

Hi @leatherneck3041!

Your past (full-time) experience will still be eligible for CFA work experience, so if you have enough from your past role, that should cover you nicely. However the CFA Institute does not accept part time work experience for their requirements (see our interview with the CFAI here for more details) so your current financial advisory work will not qualify.

Zee Tan · Answer

@leatherneck3041 affiliate membership basically indicates a member of the CFA Institute that hasn't fully fulfilled one or more of the Regular membership requirements (often either yet to pass Level 3, or work experience requirements). As far as I know, all society benefits still apply to Affiliate members.

As to your personal situation - it's hard to give advice without knowing much more. Based on what I can see, honestly CFA may not be the right path for you if your plan is to pursue this part-time.