American Academy of Financial Management


American Academy of Financial Management

The American Academy of Financial Management is a USA-based board of standards, certifying body, and accreditation council dedicated to the finance sector and management professionals.[1]

The AAFM was founded in 1996 through a merger of the American Academy of Financial Management & Analysts (AAFMA) and the Founders Advisory Committee of the Original Tax and Estate Planning Law Review.[2] AAFM is a registered trademark.[3]

The AAFM offers multiple professional membership, certifications, and designations. Members must either have come through one of the AAFM-recognized university programs or through a government-recognized executive educational program, although the board may waive these requirements in some cases.[4] The AAFM board has never directly provided training, but has recognized hundreds of approved providers.

Criticism

In October 2010, the Wall Street Journal published an article detailing the use of questionable credentials by financial advisors that discussed the AAFM extensively.[5] The article noted that the AAFM included among its Global Board of Academic Advisors & Professors several individuals who had never given their permission to be listed as board members. The article criticized the practice of many standards boards, AAFM included, of awarding credentials without requiring applicants to undergo any sort of assessment or examination, quoting the AAFM's founder, George Mentz, as evidence of this practice. A claim on the AAFM website that it had a special affiliation with both the CFA Institute and the CFP Board, which administer Chartered Financial Analyst and Certified Financial Planner certificate programs, respectively, was rebutted by representatives of both organizations in the article.

The AAFM has countered that individuals listed on its board of advisors did consent to be listed, posting emails from two individuals on its website.[6] The organization also posted to its website part of the signature page of a document agreeing that the Association for Investment Management Research (the precursor to the CFA Institute) would not contest the AAFM's trademarks, with the signature itself blanked and replaced with the type-written statement, "Signed by Sharon Glover, who must have been Jeannie Andersons Boss at the time" (sic).[7]

References

External links


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • American Academy Of Financial Management - AAFM — A globally recognized academic institution that issues a variety of financial credentials for various types of financial professionals. American Academy Of Financial Management designation holders involve professionals in a multitude of areas,… …   Investment dictionary

  • American Academy Of Actuaries - AAA — A group that provides analysis to aid in public policy creation, advances the status of the actuarial profession, and sets standards of integrity and competence for actuaries. The American Academy of Actuaries (AAA) has five public policy… …   Investment dictionary

  • Financial accountancy — (or financial accounting) is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders. The… …   Wikipedia

  • Financial planner — A financial planner or personal financial planner is a practicing professional who helps people deal with various personal financial issues through proper planning, which includes but is not limited to these major areas: cash flow management,… …   Wikipedia

  • Financial adviser — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Em …   Wikipedia

  • Financial analyst — A financial analyst (or securities analyst, research analyst, equity analyst, investment analyst) is a person who works with financial analysis.JobAn analyst will write reports on the companies they are supposed to cover, trying to describe the… …   Wikipedia

  • Financial Industry Regulatory Authority — In the United States, the Financial Industry Regulatory Authority, Inc., or FINRA, is a private corporation that acts as a self regulatory organization (SRO). FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD).… …   Wikipedia

  • American Society of Anesthesiologists — The American Society of Anesthesiologists (ASA) is an association of physicians, primarily anesthesiologists, that share a common goal of raising the standard of the medical specialty of anesthesiology and the improvement of patient care by… …   Wikipedia

  • Financial Times — The 19 November 2010 front page of the UK edition of the Financial Times Type Daily newspaper Format Broadsheet Owner …   Wikipedia

  • Academy (English school) — Mossbourne Community Academy, the successor to Hackney Downs School. (October 2005) In the education system of England, an academy is a school that is directly funded by central government (specifically, the Department for Education) and… …   Wikipedia