IMCA Launches Online Applied Behavioral Finance Course

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Meir Statman, Dan Ariely, and Carl Richards anchor new program

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Demand for behavioral finance knowledge, and strategies for how to apply it in practice, has never been higher. Our program will help advisors confidently guide their clients through important investing scenarios and help them make better decisions.

Investment Management Consultants Association® (IMCA®) announced today that its new online applied behavioral finance program is now available. The online certificate program provides tools and strategies designed to help advisors sidestep common financial pitfalls that may trip up even today’s savviest investors. Engaging content is delivered by several noted behavioral finance experts, including:

  •     Dan Ariely, Ph.D., Duke University’s Center for Advanced Hindsight
  •     Meir Statman, Ph.D., Santa Clara Leavey School of Business
  •     Andrew Lo, Ph.D., Massachusetts Institute of Technology
  •     Toby Moskowitz, Ph.D., University of Chicago Booth School of Business
  •     Author Carl Richards, known for his ability to communicate complex financial concepts to clients through sketches, as featured regularly in the New York Times, connects the dots with visual recaps of each module.

“We are excited to deliver this high-quality, relevant program to the financial advisor marketplace,” said Sean R. Walters, CAE, IMCA’s executive director and CEO. “Demand for behavioral finance knowledge, and strategies for how to apply it in practice, has never been higher. Our program will help advisors confidently guide their clients through important investing scenarios and help them make better decisions when they may not be at their rational best.”

The curriculum is relatable and actionable—and designed to give advisors tools to implement with their clients. “When we see that the suit in our closet no longer fits, we don’t go to the surgeon to change our body; we go to the tailor to change the suit,” Statman says in the program’s introduction. “Trying to change people to make them rational makes no sense. We have to tailor our solutions to their problems.”

Production of the program started in April, when IMCA’s board of directors greenlighted the course. Recent job task analyses for CIMA® and CPWA® certification required IMCA to expand behavioral finance content in its certification programs, and this course provides complementary content. In addition, IMCA members have expressed an appetite for behavioral finance: 85 percent of members surveyed this year indicated they would be “very” or “somewhat” interested in advanced topics in behavioral finance.

The online format represents another step into virtual education delivery for IMCA. In 2014, IMCA and CAIA Association released a Fundamentals of Alternative Investments online course. In February, IMCA announced that the MIT Sloan School of Management would offer an online education program for CIMA certification.

Program at-a-glance:

  •     Format: The program consists of 20 modules of videos and exercises; “deeper dive” resources, practical applications and quizzes.
  •     Continuing Education (CE): 20 hours of pre-accepted CE credit for CIMA, CPWA, and CFP certifications.
  •     Cost: $695 for IMCA members; $895 for non-members.
  •     Website and registration:

Contact: Ryan Hoffman, Communications Director. P: 303.850.3079 M: 303.359.3773. E-mail: rhoffman(at)imca(dot)org. Twitter: @IMCA

About IMCA

Established in 1985, Investment Management Consultants Association® (IMCA®) is a nonprofit professional association and credentialing organization with more than 10,000 individual members and certificants worldwide. IMCA members collectively manage more than $2.477 trillion, providing investment consulting and wealth management services to individual and institutional clients. Since 1988, IMCA has offered the Certified Investment Management Analyst® (CIMA®) certification, which earned accreditation by the American National Standards Institute (ANSI) in April 2011, making it the first financial services credential in the United States to meet international standards (ISO 17024) for personnel certification. IMCA’s Certified Private Wealth Advisor® (CPWA®) certification is suited for wealth management professionals working with high-net-worth clients. In 2014, IMCA conferences and workshops hosted nearly 4,000 attendees.

IMCA® and Investment Management Consultants Association® are registered trademarks of Investment Management Consultants Association Inc. CIMA®, Certified Investment Management Analyst®, CIMC®, CPWA®, and Certified Private Wealth Advisor® are registered certification marks of Investment Management Consultants Association Inc. Investment Management Consultants Association Inc. does not discriminate in educational opportunities or practices on the basis of race, color, religion, gender, national origin, age, disability, or any other characteristic protected by law.

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Ryan Hoffman
Investment Management Consultants Association
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