Chartered Investment Counselor (CIC) Program and Designation

Since the IAA was founded in 1937, it has always prescribed certain principles of conduct to guide its members in the practice of the investment counsel profession.

In 1975, the IAA established the Chartered Investment Counselor (CIC) Program in order that excellence and experience in the investment counsel profession might be better recognized.

The Charter was designed to recognize the special qualifications of persons employed by IAA member firms whose primary duties are consistent with section 208(c) of the Investment Advisers Act of 1940 (pertaining to the use of the term “investment counsel”), as well as with the professional responsibilities and professional qualifications set forth in Sections I and II of the Association’s Standards of Practice:

  • An investment adviser is a fiduciary and has the responsibility to render professional, continuous, and unbiased investment advice oriented to the investment goals of each client.
  • To enable a member firm to serve its clientele effectively, its investment and managerial personnel should be individuals of experience, ability, and integrity.

The CIC program was initially developed in cooperation with the Institute of Chartered Financial Analysts. Today, a key educational component of the program is the requirement that candidates hold the Chartered Financial Analyst (CFA) designation, administered by the CFA Institute (formerly the Association for Investment Management and Research). In addition to successful completion of the CFA program, the CIC designation requires candidates to demonstrate significant experience in performing investment counseling and portfolio management responsibilities. At the time the charter is awarded, candidates must be employed by an IAA member firm, must provide work and character references, must endorse the IAA’s Standards of Practice, and must provide professional ethical information.

 

Eligibility and Application Information

The CIC Brochure sets forth the eligibility requirements for the CIC designation and other information regarding the program. Please click on the following links to access the CIC Program brochure, application, and letter of reference forms.

Sample CIC Disclosure for Form ADV, Part 2B

Sample Disclosure for CIC Designation for Form ADV, Part 2B (Brochure Supplement) – Mar. 14, 2011

Questions

For assistance or questions, please contact the IAA.

Investment Adviser Association
1050 17th St., NW, Suite 725
Washington, DC 20036-5514
Phone: (202) 293.4222
Fax: (202) 293.4223
Email: iaaservices@investmentadviser.org




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