# How much does it help to get CFA and CFP for personal investments and planning



## melodevin (Oct 13, 2011)

I wonder how much value the curriculum offered from these designations could help to personal investments and planning. The keyword here is personal, not professional. That means having a different profession than finance or investment but also interested in making some profits from personal investments and planning.

Thank you to everybody who is giving their insights.


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## Square Root (Jan 30, 2010)

Hard to say. I have my CFA and manage my own portfolio. But I had a good understanding of finance before getting the CFA (also have CA/MBA) All the understanding in the world will not guarantee success in investing though. Should also keep in mind that without a finance background the CFA is very difficult and time consuming to get. There are easier designations and anyway the CFA is pretty high power just for personal investing, in my opinion.


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## the-royal-mail (Dec 11, 2009)

Seems like killing a fly with a sledgehammer. Why would you want to do this?


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## MoneyGal (Apr 24, 2009)

If you are just talking about the curricula, as opposed to the exams and designations, then I think there is likely a lot of value. 

You could read the curriculum materials for either or both courses of study - it's pretty interesting stuff.


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## tendim (Nov 18, 2010)

I'll second what MoneyGal said above. If you are only doing this for yourself, just buy the Schweser notes, or a previous year CFA (e.g. 2010) curriculum, and you're set.

From what I recall the CFA is "forever", so even those who have it have to study independently to keep up with the latest and greatest in the market. Old school CFA folks never studied some things that are in the current curriculum since those instruments didn't exist back then, but they still have to read up on them to make intelligent decisions.

If you're just looking for advice on how to evaluate companies, just read any of the Benjamin Graham books. 1/10th the cost, 10 times the knowledge.


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## humble_pie (Jun 7, 2009)

one of my favourite quotes, from a broker studying for his CFA, during the buying mania a decade ago, when tech business plans with no sales & no history were feverishly trading north of $100:

_" It doesn't pay to know anything in this business. "_


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## Lephturn (Aug 31, 2009)

I'd recommend you start with your Canadian Securities Course.

https://www.csi.ca/student/en_ca/courses/csi/csc.xhtml?icid=LNK-CSICSC--I01

I think everyone should at least learn it - and my kids will take the exam if I have anything to do with it.


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## yyzvoyageur (Apr 10, 2009)

Any other comments on the Canadian Securities Course for DIY investors? I'm looking at possibly taking that for my own interests. Is it worth it? What about the other subsequent courses they offer: IMT, WME, etc.?

Also, is the CIM designation worth the paper it's printed on?


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## MoneyGal (Apr 24, 2009)

I personally don't see a lot of value in doing the CSC course unless you require the designation for your career. It is expensive, and the test is just multiple choice (and easy). 

However, the material is OK (if basic); if you could get your hands on a copy of the materials they are an OK read.

You can't get the CIM designation without approved work experience. You'd be looking at several thousand dollars of tuition fees with no opportunity to offset the costs against income. 

If you just want to learn, there are many many many free resources which are as good if not better than the materials covered by the CSC designation (which I have earned in the past) and the CIM (which I have not).


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## Lephturn (Aug 31, 2009)

Agreed don't bother with the CSC designation - but the material is a solid introduction to finance overall.

Do a bit of digging around and I bet you can get the CSC material. I also suspect they may have it at your local library, but I can't remember for certain.

MG: Any particular free resources in mind?


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## MoneyGal (Apr 24, 2009)

Meh. I have access to so much stuff, I forget what it can be like trying to amass it from scratch. 

If I were in the situation of the OP, I would try and get the curriculum materials for the CFA coursework. Not free. 

There are also tons of finance textbooks, like this one (randomly chosen): 

http://www.amazon.ca/Finance-Canadian-Setting-Peter-Lusztig/dp/0471641855


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