Key Differences between CFA and CIMA Designations

Jake Kagele is the managing director of Nova Financial Services in Tucson, AZ. He is a Certified Investment Management Analyst (CIMA) who provides financial services to high net worth individuals, families, corporations, and institutions. Jake Kagele got his CIMA certification from the Investment Management Consultants Association.

The CIMA (Certified Investment Management Analyst) and CFA (Chartered Financial Analyst) designations are two of the top certifications for financial advisors. However, there are key differences between them.

The CFA institute handles the CFA certification. Its prerequisite is a bachelor’s degree or four years of qualifying work experience. It involves sitting for three exams before certification.

The Investment and Wealth Institute handles the CIMA certification and requires three years’ experience as an investment consultant before you can apply. You have to take the four-day executive education program at select universities, either physically or online. This course qualifies you for the CIMA designation certification exam.

CFA certified advisors work mostly in financial analytics. They help clients with financial planning, investing, and asset allocation and work mainly with investment firms, insurance companies, financial advisory companies, banks, and investment funds.

CIMA advisors focus on strategic financial management. They work mainly with large financial consulting companies and provide services to large organizations and high net worth individuals. They advise on finance, wealth management, business strategy, management, and operations. 

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About Wharton’s Certified Investment Management Analyst Program

As managing director of Tucson, AZ-based NOVA Financial Services, Jake Kagele provides financial services to high net worth clients. To complement his professional experience, Jake Kagele has completed professional education programs at the Wharton School of Business that include the Foundations and Endowments Certificate in addition to the Certified Investment Management Analyst (CIMA) program.

The Wharton School of Business, an educational institution within the University of Pennsylvania school system, has provided executive education and advanced business practices since its founding over 135 years ago. The school serves students across its undergraduate, MBA, and doctoral programs, in addition to professionals enrolled in executive education and online certificate programs like the CIMA program.

An interactive, peer-based learning course, Wharton’s CIMA program enhances knowledge in the areas of portfolio theory, behavioral finance, investments, asset allocation, performance measurement, and investment policy. The course outcomes include preparing students for certification as an investment management analyst through the Investments & Wealth Institute, a leading professional association serving the financial advising profession.

In addition to preparing students for the CIMA exam, Wharton’s program helps students to master advanced investment techniques. Moreover, the course provides an opportunity for students to leverage the expertise of world-renowned faculty while also expanding their professional network.

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Investment and Wealth Institute’s CIMA and CPWA Certifications

An experienced and credentialed financial advisor from Tucson, AZ, Jake Kagele serves as a managing director at NOVA Financial Services. A certified investment management analyst, Jake Kagele is a member of the Investment & Wealth Institute.

An association of financial professionals, the Investment and Wealth Institute serves as a standards body for wealth managers, financial advisors, and investment consultants. It also provides advanced education courses and the highly acclaimed certifications, Certified Investment Management Analyst (CIMA) and Certified Private Wealth Advisor (CPWA).

The CIMA certification started in 1988 to deal with the growing sophistication of required financial solutions provided by competent advisors. The CIMA certification embodies the virtues of expertise and professionalism as financial professionals embrace their investment management roles. The CIMA certification became even more credible in 2011 when the American National Standards Institute accredited the certification, making it the only financial certification in the US to satisfy the international standards for personnel certification. The CIMA certification is ISO 17024 certified.

The CPWA certification was created in 2007 to develop the skills and competencies of advisors working among high-net-worth clients. Based on the Institute’s analysis, wealth management is a distinct and separate field that requires qualified professionals that apply specialized knowledge and skills to assist high-net-worth clients in accumulating, protecting, and distributing their wealth. The CPWA certification addresses these requirements of advanced competencies.

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What Is the General Business Tax Credit?

Jake Kagele capitalizes on decades of wealth management experience as a Tucson, AZ-based financial advisor. A graduate of executive programs at The Wharton School of the University of Pennsylvania, Jake Kagele serves as the managing director of NOVA Financial Services.

NOVA Financial Services’ clients include Salpointe Catholic High School, for which it has secured over $100,000 in business tax credits to date. Also known as corporate tax credits, business tax credits facilitate the reduction of taxes that an organization owes to the federal government.

Distilled spirits, low-income housing, work opportunity, and general business credits are among the wide variety of possible corporate tax credits available. The general business credit, which actually represents the sum of multiple other corporate tax credits, incentivizes certain business activities. These include engaging in research or starting a pension plan. Although the credit directly reduces a tax bill, it cannot reduce tax liability below $0.

For additional information on the general business tax credit, follow the “Business Tax Credits” link at www.irs.gov/businesses.

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A Look at the ACE 2020 Exceptional Advisor Conference

Certified Investment Management Analyst Jake Kagele enjoys supporting his local community along with his wife, who serves as the president of Boys & Girls Clubs of Tucson. Professionally, Jake Kagele has served as the managing director of NOVA Financial Services in Tucson, AZ, since 2009.

Outside of his professional work, Mr. Kagele maintains active membership with the Investments & Wealth Institute. Founded in 1985 as the Investment Management Consultants Association (IMCA), this entity has delivered advanced credentialing and educational services to finance professionals and wealth managers.

IMCA also serves its members through a variety of professional events, including its Annual Conference Experience (ACE). ACE 2020, titled the Exceptional Advisor Conference, will be held May 27-30 in Boston.

In addition to standard conference experiences like networking opportunities, expert speakers, and an exhibit hall, ACE 2020 offers engaging workshops and “super sessions” in partnership with Harvard University, Massachusetts Institute of Technology, and The Wharton School of the University of Pennsylvania. Moreover, the event offers post-session receptions, complete with entertainment.

For additional information, visit www.investmentsandwealth.org.

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