The Accredited Asset Management Specialist or AAMS is a specialized and professional designation given by the College for Financial Planning. An Accredited Asset Management Specialist is a designated person who is qualified in financial planning. Read on to find out what they do and how they work.

AAMS is awarded to financial professionals who are successful in passing the required exam, completing a program of study and complying with a code of ethics set for them. Candidates who successfully qualify will be allowed to publicly use the designation along with their names for a period of two years. It can help increase their professional reputation, grant access to better jobs and even get them increased pay. 

Understanding Accredited Asset Management Specialists

The College for Financial Planning (CFP), owned by Kaplan, provides financial education for people working in the financial services sector. The Accredited Asset Management Specialist program was launched in 1994.

Some of the country’s best investment companies help draft and develop the continuing education program for AAMS. The course involves real-life incidents that are converted into case studies for the applicants to explore and understand. These case studies help professionals learn to be more effective in their careers and build better relationships with their clients. 

Currently, the course is made up of 10 modules and is taught entirely online via the college’s online platform. The course starts with an overview of asset management. It then goes on to cover other topics including insurance, retirement, taxation, investments and estate planning. 

The privileges associated with the AAMS designation are valid only for two years from when a professional first qualifies for it. To retain these privileges, AAMS professionals have to complete 16 hours of continuing study and also pay the required fee every two years. 

About the self-study and exam 

Students normally finish the program between 9 to 11 weeks of starting it. To be qualified at the end of the course, every student must pass the final exam at an approved testing center allocated by CFP. From the time they enroll in the program, students must complete the program within one year. 

Students must ensure that they test at least once every 6 months to gauge their progress till they are successful in completing the course. The final exam contains 80 questions and students must get a minimum score of 70% to pass it. 

The Accredited Asset Management Specialist self-study program consists of various topics such as the asset management process which includes risk, return and investment performance, policy and change, investment strategies, investors and taxation of investment products. Apart from this, it also includes topics on investment options that small businesses can consider, investment opportunities for individual retirement, insurance products for investment clients, regulatory and ethical issues, executive compensations and benefit plans and estate planning. 

Other facts about the Accredited Asset Management Specialist program 

While the Financial Industry Regulatory Authority (FINRA) lists AAMS as an approved designation in the financial services industry, it does not approve or endorse any designation or credential in a professional manner. 

The CFP maintains an online database of all its members along with the updated status of their designations to inform the public about the current status of professionals who have qualified as Accredited Asset Management Specialists. 


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