Making a Difference in Emerging Markets. Congratulations to our new charterholders; now go out and change the world

CFA Institute are proud to welcome our new class of charterholders, as well as to congratulate those who may have recently passed one of the other levels of our rigorous three-level exams. Successfully passing all three levels combined with four years of relevant work experience equates to a new charterholder.

 The June exam cycle saw record numbers of candidates. In 1963, this organisation first administered the exam to 284 candidates. This past June we delivered the exam in 285 test centres in 91 countries and territories. This represents the highest number of test centres ever – an amazing 37% increase over June 2017. And we sat a record number of candidates – more than 227,000 candidates worldwide.

 Our membership also continues to grow – now more than 162,000 members globally. Most encouragingly our global society network has increased to 151. 

Our members seek to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society.

 In many ways our industry’s value is more self-evident in the developing world. We see well-trained, ethical investment professionals helping to drive growth, create financial opportunity, and instill confidence in local financial systems. Financial services can help countries re-imagine and actualize their futures. This may be easier to understand in the developing world but is just as true in the developed.

 In the past five years, CFA Program candidate numbers have doubled in the emerging markets. In our last fiscal year, we added new CFA Program test centres in Dalian, Hangzhou, Hyderabad, Lagos, Rio de Janeiro, and Ulaanbaatar, making exam day more accessible to candidates in their home countries. In Mongolia and Nigeria, for example, we made it possible for candidates to sit for CFA Program exams in their home country for the very first time.

 I had the incredible opportunity to observe the exam process at our new test centre in Lagos in June. The rigor of the exams could not contain the candidates’ exuberance and delight. The experience served to remind me of the powerful role finance – and CFA Institute, of course – can play in the world. Investment management professionals truly make a difference in people’s lives. This is what continues to inspire me about our work around the globe.

 It’s not just about exam pass rates in these countries; it’s about changing lives and building economies. We see a pivotal role for finance in helping communities around the world attain their objectives. Not just financial objectives, but social goals as well. Surely our purpose is not merely to beat an index, but to help our clients achieve financial outcomes and long-term security – a clear path to prosperity.

 Our charterholders can indeed change the world. They have unique power to shape the future – by leveraging local relationships and expertise to positively impact the investment management industry in the communities in which they live and work. This is a path toward a brighter future for all.