What Is a Certified Wealth Strategist® (CWS®)?
A certified wealth strategist® (CWS®)
has completed specific education and experience requirements and has passed a rigorous certification exam.
They are professionals who are qualified to provide services, including investment planning, retirement planning, tax planning, and estate planning.
And as the name implies, a CWS® is certified to provide wealth management services to high-net-worth clients.
What Are the Characteristics of a Wealth Strategist?
There are several key characteristics that wealth strategists should possess:
- Expertise in financial planning for high-net-worth clients
- Proven experience in personal finance and investment planning
- Strong understanding of wealth management and estate planning
- Comprehensive knowledge of tax laws and planning strategies
- Ability to provide tailored solutions for clients' unique needs
CWS Program Requirements and Credentials
A CWS® must finish a program designed for them. Cannon Financial Institute (CFI) created the program.
To qualify for the CWS® program, one must have three years of proven industry experience and a four-year degree from a university accredited by CFI; or five years of proven industry experience.
To become a certified wealth strategist®, an individual must meet the following CWS® program requirements:
Comparable Certifications
Other certifications overlap with CWS®, such as Certified Financial Planner™ (CFP™), Chartered Financial Analyst® (CFA®), and Accredited Investment Fiduciary® (AIF®).
The wealth strategist certification gives professionals the ability to provide comprehensive wealth management services to high-net-worth clients.
While all these credentials are essential, the wealth strategist certification is the only one that focuses specifically on wealth management for high-net-worth clients.
The Bottom Line
A certified wealth strategist® (CWS®) is a professional with the education and experience to provide comprehensive wealth management services to high-net-worth clients.
They have completed a program designed for them by the Cannon Financial Institute and must adhere to a strict code of ethics.
Other comparable certifications, such as Certified Financial Planner™ (CFP™), Chartered Financial Analyst® (CFA®), and Accredited Investment Fiduciary® (AIF®), exist. Still, the wealth strategist certification is the only one that focuses on wealth management for high-net-worth clients.
FAQs
1. How much net-worth does a wealth manager need to serve?
There is no specific net-worth requirement to become a wealth strategist. However, the wealth management services are typically geared towards high-net-worth clients, typically those with $1 million or more.
2. What kind of examination is required to become certified?
To become a CWS®, you must pass the CWS® exam. The exam is a three-hour video-proctored online examination comprising 150 multiple-choice questions.
3. Does it have a continuing education requirement?
Yes, there is a 30-hour continuing education requirement to maintain your CWS® certification every two years.