The CFA Institute’s investment management qualification, the CFA program and CFA charter, has been benchmarked as QCF level seven, comparable with a master’s degree in finance.
The National Recognition Information Centre has benchmarked level one, two and three of the CFA program and charter as QCF level five, six and seven respectively.
The CFA Institute is a global association for investment professionals, with nearly 100,000 members worldwide.
The new minimum qualification for all independent financial advisers under the retail distribution review is QCF level four, which is equi- valent to the first year of a degree.
CFA Institute managing director Nitin Mehta says the benchmark will make it easier for the industry to recognise the standard of the CFA qualification.
He says: “This provides an easily understood comparison against other qualifications and demonstrates to employers and investors the exacting standards needed to become a CFA charter holder.”
National Recognition Information Centre head of UK NARIC Cloud Bai Yun says it will communicate the benchmark results to universities, colleges and educational authorities across the world.
He adds: “This will be of real benefit to the Institute, ensuring that the rigour and high standards of the CFA program and charter continue to be recognised.”