Skip to content
Community Charter
  • Home
  • Categories
    • Advanced Business Solutions
    • Automotive Solutions and Services
    • Car Rentals
    • Health and Wellness Guides
    • Home Solutions
    • HVAC Solutions
    • Medical Care
    • Mortgage Industry
    • Photography
    • Plumbing and Biohazard Tips
    • SEO and Internet Marketing
    • Taxes and Laws
  • About
  • Contact
  • Privacy Policy

Accredited Asset Management Specialist (AAMS)

January 13, 2021

What is the AAMS certification?New financial advisors need something to help them stand out. Consequently, the AAMS does just that. Designed for newcomers to the financial advice business, the AAMS trains advisors to identify investment opportunities as well as help clients with other financial goals. It also gives more experienced advisors a fast and simple way to learn more about asset management and improve their credentials. Here’s how it works.

AAMS Defined

An Accredited Asset Management Specialist (AAMS) can advise clients on college savings, taxes, and retirement savings. The course and tests for this certification are designed to ensure advisors can assist clients with their complete financial needs. It emphasizes evaluating the client’s assets and making appropriate recommendations.

The AAMS certification is granted by the College for Financial Planning, a unit of the Kaplan Company. The college oversees a large number of financial certification programs, including the Certified Financial Planner designation, one of the most valued certifications in the field.

AAMS Certification Requirements

What is the AAMS certification?

To receive an AAMS, students first have to complete a 10-module education program provided by the College for Financial Planning. Then they have to pass an examination. Finally, they must agree to abide by a code of ethics and promise to continue their education.

The courses are online and can be delivered in self-study or instructor-led formats. Courses are open-enrollment, therefore students can begin at any time without waiting for the next session.  The 10 modules cover the following material:

1.:The Asset Management Process

2. Risk, Return & Investment Performance

3. Asset Allocation & Selection

4. Investment Strategies

5. Taxation of Investments

6. Investing for Retirement

7. Deferred Compensation and Other Benefit Plans

8. Insurance Products for Investment Clients

9. Estate Planning for Investment Clients

10. Fiduciary, Ethical, and Regulatory Issues for Advisors

The College of Financial Planning provides everything necessary to study for and complete the modules and take the test. Students have access to the study materials and tests through an online portal.

Streaming video lectures, audio files, and interactive quizzes also can be found through the college’s site. Meanwhile, students can access live classes online and contact professors with questions and issues.

The AAMS Test

To get the AAMS certification, students have to pass just one test. However, they have to make their first attempt at the test within six months of enrollment and pass it within a year.

The fee for the first attempt at taking the test is included in the course tuition. There are no prerequisites for signing up to take the AAMS course.

Time and Money Requirement

Tuition for the AAMS courses is $1,300. This includes the fee for the first attempt at passing the certification exam. It also includes all needed course materials. Each additional attempt costs $100.

Students employed with certain financial services firms may be able to get tuition discounts. The college may also provide scholarships.

The College for Financial Planning recommends students plan to spend 80 hours to 100 hours on the course. Since the course is self-study, this amount of time is flexible.

To maintain AAMS certification students have to commit to completing 16 continuing education credits every two years. Also, continuing education has to cover one or more of the topics covered in the AAMS coursework.

AAMS certificate holders also have to agree to follow a professional standard of conduct. As a result, they have to maintain integrity, objectivity, competency, confidentiality and professionalism in providing financial services.

AAMS Certificate Holder Jobs

AAMS certificates are generally earned by entry-level workers in the financial advice business. Consequently, AAMS holders are typically trainees. In some cases, they may provide support services to more experienced and highly credentialed advisors.

The AAMS designation does not confer any special powers or privileges. Instead, it’s an optional credential that students may obtain to advance their careers and enhance their knowledge of financial advice.

Comparable Certifications

What is the AAMS certification?

In addition to the AAMS, the College for Financial Planning offers an Accredited Wealth Manager Advisor (AWMA) certificate. This is a somewhat more advanced designation. As a result, it requires a course equivalent to three graduate level college credits and requires 90 hours to 135 hours to complete.

Chartered Mutual Fund Counselor (CMFC) is sponsored by the Investment Company Institute along with the College of Financial Planning. It is similar to the AAMS certificate except it focuses on mutual fund assets.

Accredited Financial Counselor (AFC) is a general personal finance advice certificate from the Association for Financial Counseling and Planning Education. First, it requires 1,000 hours of financial counseling experience. Secondly, it demands three letters of reference. Finally, applicants must both complete coursework and pass an exam.

Bottom Line

The AAMS designation is usually for newly minted financial advisors, but even experienced pros can use it to bulk up their credentials. The courses and tests associated with the AAMS teach advisors how to evaluate assets and make recommendations.

While this certification doesn’t give an advisor any real powers, it’s a sign that they can identify investment opportunities specific to their clients. Above all else, it can be a great relief to a client who has a child going to college or a retirement house on their wish list. As a result of obtaining an AAMS, and advisor can point them toward the right investments for their goals.

Investing Tips

  • If you’re looking to identify investment opportunities, consider using an AAMS as your advisor. Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • An AAMS can help you with college savings, taxes, and retirement savings if you know what your goals are. However, if you are unsure how much you want to invest, what your risk tolerance is, or how inflation and capital gains tax will affect your investment, SmartAsset’s investing guide can help you take the first steps.

Photo credit: ©iStock.com/SARINYAPINNGAM, ©iStock.com/fizkes, ©iStock.com/Suwanmanee99

The post Accredited Asset Management Specialist (AAMS) appeared first on SmartAsset Blog.

Source: smartasset.com

Tags: AAMS, Accredited Asset Management Specialist, Career, Finance, financial advisor, Financial Goals, financial planning, Financial Wize, FinancialWize, How To, investing, investments, money, Personal Finance, saving money, savings

Categories

  • Account Management
  • Advanced Business Solutions
  • Apartment Hunting
  • Auto
  • Auto Insurance
  • Auto Loans
  • Automotive Solutions and Services
  • Bank Accounts
  • Banking
  • Breaking News
  • Budgeting
  • Building Credit
  • Business
  • Car Insurance
  • Car Rentals
  • Careers
  • Cash Back
  • Celebrity Homes
  • Checking Account
  • College
  • Commercial Real Estate
  • Credit 101
  • Credit Card Guide
  • Credit Cards
  • Credit Repair
  • Debt
  • DIY
  • Early Career
  • Estate Planning
  • Extra Income
  • Family Finance
  • FHA Loans
  • Financial Advisor
  • Financial Freedom
  • Financial Planning
  • Financing A Home
  • Find An Apartment
  • Finishing Your Degree
  • First Time Home Buyers
  • Flood Insurance
  • Food Budgets
  • Frugal Living
  • Growing Wealth
  • Health and Wellness Guides
  • Health Insurance
  • Home
  • Home Buying
  • Home Buying Tips
  • Home Decor
  • Home Improvement
  • Home Loans
  • Home Ownership
  • Home Solutions
  • HVAC Solutions
  • Identity Theft
  • Insurance
  • Investing
  • Life Insurance
  • Loans
  • Market News
  • Medical Care
  • Minimalist LIfestyle
  • Money
  • Money Management
  • Mortgage
  • Mortgage Industry
  • Mortgage News
  • Mortgage Rates
  • Mortgage Tips
  • Paying Off Debts
  • Personal Finance
  • Personal Loans
  • Photography
  • Plumbing and Biohazard Tips
  • Podcasts
  • Quick Cash
  • Real Estate
  • Refinance
  • Renting
  • Retirement
  • Saving Energy
  • Savings Account
  • SEO and Internet Marketing
  • Side Gigs
  • Small Business
  • Spending Money Wisely
  • Starting A Business
  • Student Finances
  • Student Loans
  • Taxes
  • Taxes and Laws
  • Travel
  • Unemployment
  • Work From home

Recent Posts

  • The Late Gene Autry’s Former Estate Hits the Market for $8.25 Million
  • Which Amex cash back card is right for you?
  • 5 Reasons Your Career Is Stalled and How to Get Unstuck
  • A Step-by-Step Guide to Prepare Your Budget for a Layoff
  • 10 Things to Know About Working in New York

Tags

Auto Budget Budgeting Buy Buying car covid-19 Credit Credit Card credit cards credit report credit score Debt estate Family Fees Finance financial advisor Financial Goals FinancialWize Financial Wize Home How To Insurance Interest Rates investing Life loan Loans money mortgage News Personal Personal Finance Products rate Retirement Rewards Save Money Saving savings School single Spending taxes

Recent Posts

  • The Late Gene Autry’s Former Estate Hits the Market for $8.25 Million
  • Which Amex cash back card is right for you?
  • 5 Reasons Your Career Is Stalled and How to Get Unstuck
  • A Step-by-Step Guide to Prepare Your Budget for a Layoff
  • 10 Things to Know About Working in New York

Categories

  • Account Management
  • Advanced Business Solutions
  • Apartment Hunting
  • Auto
  • Auto Insurance
  • Auto Loans
  • Automotive Solutions and Services
  • Bank Accounts
  • Banking
  • Breaking News
  • Budgeting
  • Building Credit
  • Business
  • Car Insurance
  • Car Rentals
  • Careers
  • Cash Back
  • Celebrity Homes
  • Checking Account
  • College
  • Commercial Real Estate
  • Credit 101
  • Credit Card Guide
  • Credit Cards
  • Credit Repair
  • Debt
  • DIY
  • Early Career
  • Estate Planning
  • Extra Income
  • Family Finance
  • FHA Loans
  • Financial Advisor
  • Financial Freedom
  • Financial Planning
  • Financing A Home
  • Find An Apartment
  • Finishing Your Degree
  • First Time Home Buyers
  • Flood Insurance
  • Food Budgets
  • Frugal Living
  • Growing Wealth
  • Health and Wellness Guides
  • Health Insurance
  • Home
  • Home Buying
  • Home Buying Tips
  • Home Decor
  • Home Improvement
  • Home Loans
  • Home Ownership
  • Home Solutions
  • HVAC Solutions
  • Identity Theft
  • Insurance
  • Investing
  • Life Insurance
  • Loans
  • Market News
  • Medical Care
  • Minimalist LIfestyle
  • Money
  • Money Management
  • Mortgage
  • Mortgage Industry
  • Mortgage News
  • Mortgage Rates
  • Mortgage Tips
  • Paying Off Debts
  • Personal Finance
  • Personal Loans
  • Photography
  • Plumbing and Biohazard Tips
  • Podcasts
  • Quick Cash
  • Real Estate
  • Refinance
  • Renting
  • Retirement
  • Saving Energy
  • Savings Account
  • SEO and Internet Marketing
  • Side Gigs
  • Small Business
  • Spending Money Wisely
  • Starting A Business
  • Student Finances
  • Student Loans
  • Taxes
  • Taxes and Laws
  • Travel
  • Unemployment
  • Work From home
communitycharter.org
Home | Contact | Site Map

Copyright Community Charter 2022 | Theme by ThemeinProgress | Proudly powered by WordPress