Financial Designations and Courses

Persons and companies that trade in securities in the province of Manitoba must be registered with the Manitoba Securities Commission. To be registered, individuals must complete specified educational requirements (See List of Educational Requirements). Many individuals you encounter may also hold one or more of the following designations. These designations are not approved by the Commission. You should always question the qualifications of the individual you are considering working with before seeking investment advice.

Financial Designations

AICB (Associate, Institute of Canadian Bankers):
An internationally-recognized designation conferred by the Institute of Canadian Bankers (ICB) that signifies professionalism in the financial services industry. AICBs must complete a six-course undergraduate level program of study.

CA (Chartered Accountant):
An accountant who has successfully completed the education, examination, and experience requirements of the Institute of Chartered Accountants of Manitoba and is a member in good standing of that provincial institute. Members are subject to a code of professional ethics/conduct, mandatory continuing education, and mandatory professional liability insurance in respect of any public accounting practice.

CFA (Chartered Financial Analyst):
A designation held primarily by institutional money managers and stock analysts, the CFA is issued upon passing exams administered by the U.S.-based CFA Institute.

CFP (Certified Financial Planner):
An international designation administered in Canada by the Financial Planners’ Standards Council of Canada. CFPs must meet a uniform set of standards with respect to care and continuing education, experience (two years minimum), professional conduct, and agree to report infractions to the FPSCC.

CGA (Certified General Accountant):
An accountant who has successfully completed the education, examination, and experience requirements of the Certified General Accountants Association of Manitoba and is a member in good standing of that provincial association. Members are subject to a code of professional ethics/conduct, mandatory continuing education, and mandatory professional liability insurance in respect of any public accounting practice.

C.H.F.C. (Chartered Financial Consultant):
An individual who has passed exams administered by the Canadian Association of Insurance and Financial Advisors (CAIFA), indicating that he or she is a financial advisor with knowledge in wealth accumulation and retirement planning.

CIM (Canadian Investment Management):
A designation granted by the Canadian Securities Institute to graduates of its advanced CIM program in portfolio management.  This program meets the educational requirements from the Investment Dealers Association for licensing as an associate or full portfolio manager.

CLU (Chartered Life Underwriter):
An individual who has passed exams administered by the Canadian Association of Insurance and Financial Advisors (CAIFA), indicating that he or she is a qualified life insurance agent.

CMA (Certified Management Accountant):
An accountant who has successfully completed the education, examination, and experience requirements of the Society of Management Accountants of Manitoba and is a member in good standing of that provincial society. Members are subject to a code of professional ethics/conduct, mandatory continuing education, and mandatory professional liability insurance in respect of any public accounting practice.

FCA (Fellow of the Institute of Chartered Accountants):
The highest designation granted by a provincial institute of chartered accountants.

FCGA (Fellow of the Certified General Accountants’ Association):
The highest designation granted by a provincial association of certified general accountants.

FCMA (Fellow of the Certified Management Accountants’ Association):
The highest designation granted by a provincial association of certified management accountants.

FCSI (Fellow of the Canadian Securities Institute):
The highest designation conferred by the Canadian Securities Institute. FCSIs must satisfy educational requirements and have a minimum of five years’ experience in the securities industry.   In order to maintain the designation, FCSIs must meet high standards for ongoing professional development and ethical practice.

FICB (Fellow, Institute of Canadian Bankers):
The highest designation conferred by the Institute of Canadian Bankers (ICB). FICBs must complete a seven-course graduate level program of study. FICB demonstrates knowledge and understanding of the key issues faced by senior managers of financial institutions and possession of the leadership skills necessary to manage these issues in a globally competitive environment.

FMA (Financial Management Advisor):
A designation granted by the Canadian Securities Institute to graduates of its FMA program in advanced financial planning and wealth management.   Graduates of the FMA program are able to provide advanced financial planning advice to sophisticated and high net worth investors.

MBA (Master of Business Administration):
This graduate-level university degree is generally seen as providing its holder with a background in finance and the other managerial dimensions of running a business or other organization.

MTI (Member, Trust Institute):
Specialized trust designation conferred by the Institute of Canadian Bankers (ICB). MTI’s must complete a specialized program of study, meet an experience requirement and abide by a code of ethics. The MTI indicates extensive knowledge and proven work experience in a specific area of specialization as well as core business.

PFP (Personal Financial Planner):
A widely known and sought after financial planning designation conferred by the Institute of Canadian Bankers (ICB). PFP’s must complete a financial planning education program, submit a financial plan and write a comprehensive capstone examination. It is the mark of a highly knowledgeable and competent financial planning professional trained to provide sophisticated guidance to clients interested in customized management of their wealth.

RFP (Registered Financial Planner):
A designation administered by the Canadian Association of Financial Planners (CAFP), a non- regulatory, voluntary membership body. No educational program is necessary, but passing an exam is required.

RHU (Registered Health Underwriter):
An individual who has passed exams administered by the Canadian Association of Insurance and Financial Advisors (CAIFA), indicating that he or she is an insurance/financial advisor with advanced knowledge in disability insurance underwriting.

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Courses

BCO (Branch Compliance Officer):
A self-study course offered by the Institute of Canadian Bankers (ICB) which allows branch managers to meet licensing proficiency requirements in order to effectively supervise mutual fund sales representatives and manage all aspects of a financial institution mutual fund dealing branch.

BM (Branch Managers’ Course):
A self-study program offered by the Investment Funds Institute of Canada (IFIC) which provides managers with information to ensure that the business activities of a branch comply with both the organization’s policies and provincial securities commission regulations.

BMC (Branch Managers Course):
A self-study course offered by the Canadian Securities Institute that prepares senior financial professionals for the challenges of running a branch office.  BMC meets regulatory requirements and provides the skills and knowledge that branch managers require to effectively supervise staff and branch activities.

CIFC (Canadian Investment Funds Course):
A self-study program offered by the Investment Funds Institute of Canada (IFIC), covering the role of the salesperson, Economic & Financial Environment, Mutual Funds, Portfolio Management, Taxation, Pensions and Competitive Products. The CIFC is typically taken by bank and trust company advisors, mutual fund representatives, professional accountants, insurance agents, business students and individual investors.

CSC (Canadian Securities Course):
A self-study program offered by the Canadian Securities Institute, covering the financial service industry, fixed income securities, equities, mutual funds, derivatives, factors influencing market process of securities, and the economy. The CSC is typically taken by bank and trust company advisors, mutual fund advisors, professional accountants, insurance agents, business students, and individual investors.

DFC (Derivatives Fundamentals Course):
A self-study course offered by the Canadian Securities Institute that provides students with an overview of how futures and options work, how they are priced and how to choose an appropriate strategy for clients or a personal portfolio.

IFC (Investment Funds in Canada):
A self-study course offered by the Institute of Canadian Bankers (ICB), that provides personal advisory services professionals with the competency and knowledge to help clients choose proper investment strategies and vehicles. Its purpose is two-fold: to help professionals learn how to evaluate clients' investment objectives and suitability and to licence them to sell mutual funds.

OPD (Officers’ Partners’ and Directors’ Course):
A self- study program offered by the Investment Funds Institute of Canada (IFIC), which provides policy and regulatory knowledge that is needed to understand the Securities and Compliance requirements of a province or territory.

PDO (Partners, Directors and Senior Officers Course):
A self-study course offered by the Canadian Securities Institute that helps senior management comprehend and deal with the complex issues and responsibilities associated with the management of an investment firm.

PFP Program (Personal Financial Planning):
A self-study program offered by the Institute of Canadian Bankers (ICB) that provides financial planning professionals with the knowledge and competency to provide sophisticated guidance to individuals interested in customized management of their wealth.

PFPC (Professional Financial Planning):
A self-study course offered by the Canadian Securities Institute that helps students gain a thorough understanding of financial planning issues and investment management.

Technical Analysis:
Helps public investors and financial professionals learn how to determine probable future price trends through the analysis of historical market information.   Compliments fundamental analysis and helps improve the quality of investment decisions.  Available as a self-study course and individual modules or through in-class seminars by the Canadian Securities Institute.

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