How frequently charters are awarded?

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henriko

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I can see most of the people are scheduled to get their charters on Sep 4. But I can’t simply make it since NYSSA is meeting Sep 3 and apparently on 4th or 5th I will get answer from them. After society approval and my employer paying the fee, how long does it take for CFA give out the charter?
 
henriko wrote:I can see most of the people are scheduled to get their charters on Sep 4. But I can’t simply make it since NYSSA is meeting Sep 3 and apparently on 4th or 5th I will get answer from them. After society approval and my employer paying the fee, how long does it take for CFA give out the charter?
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Awarding you your charter doesn’t require that someone hand you the piece of paper. You should get the charter (the right to use the CFA designation) the same date as everyone else: 9/4. Your society may have a ceremony and give you the paper a month later, but that’s just … well … ceremonial; the date is set by CFA Institute.
 
Somehow my 3rd reference still hasn’t submitted his statement. I’m not even sure if he has received the email … At this rate, I think I will miss the 9/4 award date. What would be the next date if I missed 9/4?
 
@s2000 do you still get the charter even if one didnt pay dues? + local society hasnt yet approved exp?
 
I’m not sure on either of these last two.
I’d encourage you to phone or e-mail the folks at CFA Institute. I’ve always found them to be very responsive and helpful.
 
Hi - CFAI approved my work experience today and my application has been forwarded to the Los Angeles Society, which will hold its monthly meeting on September 5. Where in the CFAI website does it say that charter will be awarded on 9/4?
 
henriko wrote:@s2000 do you still get the charter even if one didnt pay dues? + local society hasnt yet approved exp?
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Basic requirements from the website, here: http://www.cfainstitute.org/programs/cfaprogram/charterholder/Pages/index.aspx
“To earn a CFA charter, you must:
  • Have four years of qualified investment work experience,
  • Become a regular member of CFA Institute,
  • Pledge to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct,
  • Apply for membership to a local CFA member society, and
  • Complete the CFA Program.”
You’re not a regular member if you haven’t paid your dues/been approved by your local society. Therefore you haven’t earned a CFA Charter.
 
keithjeep5 wrote:Somehow my 3rd reference still hasn’t submitted his statement. I’m not even sure if he has received the email … At this rate, I think I will miss the 9/4 award date. What would be the next date if I missed 9/4?
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I’m also curious about this. It doesn’t look like I’ll have society approval before 9/4. I assume CFAI awards the charter more than once a year, but has anyone had experience receiving it after the initial batch?
 
Seems like there are a couple of recurring points that are the center of confusion amongst those of us who have applied for membership. I’ve read and re-read the CFA website multiple times and I think I’ve figured it out.
Q. Do you need society approval to have the charter awarded?
No. CFA Institute recommends joining a local society but you can be a regular member of the CFA Institute without joining a local society.
Q. Can I begin using CFA charter if my local society application is pending?
Yes, as long as you have been approved by CFA Institue and received the email.
Q. Why am I even applying for local society membership?
Applying for local society membership is a requisite in becoming a regular member of CFA Institue BUT you don’t actually have to become a local society member (i.e., you can choose not to pay dues once your local society application is approved).
You should join these local societies if you believe there is an educational or career-related benefit. IMO this is just another source of revenue that they have subtlely incorporated into the CFA Charter awarding process.
 
this is a good question. I am in the same boat. My society meets on Sep 9th.
Anyone else awarded the charter soon after the first week of september because of their society?
 
Sheeshers, this is good info, thanks… but a couple questions still remain. For those that haven’t yet had their work experience approved by CFAI (and won’t prior to 9/4), I’m still curious how often charters are awarded throughout the year. Also, I thought someone said in one of the threads that you can’t pay your CFAI membership dues until entire review process is complete, including society application review?
 
All tru but your society delays approval pending payment. At least that’s how they extort you here in NY. I just won’t renew next year.
 
I think all those who passed level 3 are approved for the charter on September 4. However, only those who are active regular members will receive an email confirming the award of the charter. All the others, without regular membership, will automatically become charter holders whenever they gain regular membership.
 
So my work’s been approved by CFAI… I haven’t recieved any emails.
Are we supposed to get an email asking to pay dues etc after just getting approved by CFAI? or by both CFAI and local society?
 
@Mk514 I have not received an official letter from CFAI although it was approved. However I got an email from a person who reviewed my work experience, he told me that NYSSA should review my application now…
 
henriko wrote:
@Mk514 I have not received an official letter from CFAI although it was approved. However I got an email from a person who reviewed my work experience, he told me that NYSSA should review my application now…
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Odd I show that all the months that I put in was approved since last Thursday, but I have yet to recieve any email saying that it has been approved. It looks like NYSSA needs to approve me at this time as I’m showing 0 months approved for them…
So do we wait until we get approved from both to be able to pay our dues?
 
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