Chartered Wealth Manager – CWM Exam Guide

Chartered Wealth Manager

There are more than 50,000 Chartered Wealth Managers globally and are spread in more than 151 countries. CWM was founded in the year 1996 by AAFM that is the American Academy of Financial Management.

This certification is actually very good if you come from a background of asset management, asset allocation, and wealth management background. Nothing can be better than this course to boost the value of your resume. This course is organized by worldwide financial and standard professionals who offer exclusive and certified designations along with chartered and master’s certifications to candidates who are capable of meeting high standards.

In this article, we look at the nuts and bolts of the CWM examination.

CWM Exam

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About CWM Program

The chartered wealth manager is a designation that is recognized globally, or you can also call it a global designation. The people in possession of this certificate can work in the country they wish to work as a CWM. Its course content is a mix of Indian and International judicious content, which enables the participants to get a complete understanding of both the Indian as well as international financial background.

  • Job roles: Portfolio and asset manager, wealth manager, broker, market analyst, financial controller, head of finance, private banker, etc.
  • Exams: The candidates need to complete 18 units in both levels of examinations. Level 1 is the Foundation level, which is a 115-minute examination for 150 marks; whereas Level 2 is the Advanced Level, which is a 175-minute examination for 200 marks.
  • CWM exam dates: It is an online exam and you can choose to appear for this examination, depending on your flexibility. You can schedule the exams between the 10th and the 20th of every month.
  • Eligibility: To become a certificate holder, the minimum qualification you need is a graduate. You need to be a graduate to appear or register for this certification course. And most importantly, you need relevant 3 years’ work experience to register for a Chartered wealth manager certification.

CWM Program Completion Criteria

  • The course of Chartered Wealth Manager is divided into 2 parts – Foundation Level and Advanced Level.
  • Foundation Level includes an overview of the global financial systems, concept & lifecycle of wealth management, managing investment risk, measuring investment returns, etc.
  • Advanced Level includes topics such as equity analysis, loan & debt management, portfolio management strategies, advanced wealth management, etc.
  • The Foundation Level is for 150 marks and its duration is 115 minutes, whereas the Advanced Level is for 200 marks and its duration is for 175 minutes.
  • The candidate needs to be a graduate to register for this certification.
  • Besides the education, the candidate also needs skills such as product knowledge, understanding of client psychology, customer management, skills of sales and soft skills, understanding financial market and competition, and also business understanding.

Why pursue a CWM examination?

You are passionate about the management of wealth; this is just what you should do. Understanding the market allocation of resources, etc., is extremely interesting for passionate people only. To pursue this certification, you need the love and dedication for finance.

  1. CWM enhances your potentials for managing wealth and portfolios for corporate and individuals.
  2. The candidates get updates on the industry and the opportunities as a wealth manager with relevance to the globe. They learn market dynamics and innovation in financial products in wealth management. Gaining insights into global best practices in the financial industry, they understand the options and issues in wealth planning.
  3. They develop skills in building wealth management solutions for the ability of clients. They develop strategies and confidence in dealing with customers in a friendly way, using friendly language to build stronger customer relationships. Their capabilities are gained through strategic and structural processes.
  4. Applying for this certification prepared the students’ thoughts is tough and practical orientation and course structure. And the outcome of this course is a fully trained wealth manager who is ready for the tough wealth management industry.
  5. Wealth management is one of the fastest-growing and highly paid careers these days. Demands as per the studies state that India alone falls under the fastest growing economies of the world which has approximately 200000 families that fall under the ultra-high net worth family bracket; however, the is estimated to grow higher in the next few years to come the country has more than 20000 chartered wealth managers and is estimated to grow up to 50000 in the next couple of years. This means each wealth manager may handle close to 50 high net worth clients, and this provides a good amount of employment and also a very good career scope.
  6. Professionals who really want to pursue their careers in wealth managementCareers In Wealth ManagementWealth management professionals work in financial advisory services, accounting, estate planning, insurance policies, equity and debt market investments, and retirement planning. These professionals provide their clients the best financial solutions to help them grow their assets.read more like Investment Strategies, Life Cycle Management, Intergenerational Wealth Transfer, Relationship Management, Behavioral Finance, Alternative Products, Real Estate Valuation, and Global Taxation, this certification is just perfect as it suits your requirement and gives your career a boost a good kick start or maybe a restart to grow higher.

CWM Examination Format

CWM ExamFoundation levelAdvanced level
Focuses on
  • Overview of Global Financial System
  • Concept of Wealth Management
  • Life Cycle Management
  • Investment Vehicles of Wealth Management
  • Measuring Investment Returns
  • Managing Investment Risk
  • Role of Wealth Management in Banking
  • Loan & Debt Management
  • Intergenerational Wealth Transfer
  • Equity Analysis
  • Use of Alternative Products in Wealth Management
  • Use of Behavioral Finance in Wealth Management
  • Real Estate Valuation and Analysis
  • Relationship Management by a Wealth Manager
  • International Taxation
  • Portfolio Management Strategies
  • Wealth Management Planning
  • Advanced Wealth Management
Exam FormatOnline exam
Pass Percentage50% marks in all subjects with no negative marking
Duration115 minutes175 minutes
Exam DateThe exams can be scheduled from the 10th to the 20th of every month.

CWM Part I exam (Foundation level)

The foundation level of Chartered Wealth Manager covers the basic fundamentals of wealth management that deals with a different aspect like investment strategies, life cycle management, intergenerational wealth transfer, management of relationships, etc. This level covers 9 units; these units are Overview of Global Financial System, Concept of Wealth Management, Life Cycle Management, Investment Vehicles of Wealth Management, Measuring Investment Returns, Managing Investment Risk, Role of Wealth Management in Banking, Loan & Debt Management, and Intergenerational Wealth Transfer.

  1. The CWM examinations are all online examinations and are not written.
  2. To clear this examination, you need to score at least or a minimum of 50%; however, this certification does not include any negative marking.
  3. The duration to clear this exam is 115 minutes.
  4. You can book your seat whenever you are ready; however, remember that the examination date will be anytime between the 10th and the 20th of every month.
  5. The foundation level examination pattern is given below.
Marks for QuestionsNumber of Questions
1 Mark30 Questions
2 Marks20 Questions
4 Marks20 Questions
Total of 150 marksTotal of 70 questions

CWM Part II exam (Advanced level)

  1. Advanced Level covers the units, such as Equity Analysis, Use of Alternative Products in Wealth Management, Use of Behavioral Finance in Wealth Management, Real Estate Valuation and Analysis, Relationship Management by a Wealth Manager, International Taxation, Portfolio Management Strategies, Wealth Management Planning, and Advanced Wealth Management.
  2. The CWM examinations are all online examinations and are not written.
  3. To clear this examination, you need to score at least or a minimum of 50%; however, this certification does not include any negative marking.
  4. The duration to clear this exam is 175 minutes.
  5. You can book your seat whenever you are ready; however, remember that the examination date will be anytime between the 10th and the 20th of every month.
  6. The advanced level examination pattern is given below.
Marks for QuestionsNumber of Questions
1 Mark40 Questions
2 Marks30 Questions
4 Marks20 questions
Total of 200 marksTotal of 90 questions

CWM Examination Fees

Just like every course, the CWM fee structure varies. The variation is in the type of fee you pay along with what reason you pay the fee for. The fee structure table is given below for a better understanding.

HeadAmount
Registration Fees$400
Registration Fees
Level 1 (Foundation Level)$200
Level 2 (Advanced Level)$600
  • Level 1 fee needs to be paid at the time of registration, and once registered, the registration is valid only for 365 days. Level 2 examination fee needs to be paid before appearing for the examination.
  • A print out of the study material is not available and; however, the study material is available online.
  • Fee, once paid, is not refundable, and the above fee structure does not include taxes as taxes differ from country to country.

(Note: The examination is not held in a specific period or a specific time slot; hence giving a passing percentage is not possible for this course. In fact, the examinations are taken as per the convenience of the candidate for the candidate can appear for an examination every month)

Strategies for the Chartered wealth manager Exam

  1. Know the syllabus and the structure of the CWM examination as this will tell you and show you where to start and how to start.
  2. Planning is extremely important before you start something new now that your syllabus and the structure of the exam and its course material, you need to plan your next move of starting to study for this not so easy certification. This certification is not as easy as it looks. Experts say that studying for this examination needs a dedicated 200 hrs pre-exam preparation—plan studying accordingly.
  3. Important to understand the types of papers; hence take a number of mock tests that will be available online. This will give you an idea of the question paper that you will come across during your examination.
  4. Study daily by understanding the concepts and not simply memorizing your material.
  5. Oh yes, study only from approved or study material provided online. Because no hard text material will be sent out to you, you will have to either get the material printed, or you will have to study online.
  6. Download as many mock test papers, look for previous test papers. If possible, solve them; this will give you an idea of how the test is conducted. Solve as many as possible to make sure you understand and fair better.
  7. Seek advice from seniors or classes in case you feel you need help.
  8. Revision is very important; do not forget to revise. Neither should you ignore it. Last-minute revision is your savior.
  9. Say no to panic. In case of panic situations, practice relaxation exercises to help you study better, take care of your health by eating and sleeping well as this will help fair better.

Recommended Articles

This has been a guide to CWM Exam. Here we discuss what the CWM exam is, why you should pursue it, its fees, exam format, passing strategies, etc. You may also have a look at the following articles –

Reader Interactions

Comments

  1. Mischell lobo says

    This blog is really awesome. This was very useful for me. I have little confusion in choosing the career between CWM and CFP. Would please like to differentiate these both?

    • Dheeraj Vaidya says

      Thanks for your kind words Mischell. Here is an article – CFP VS CWM where I have taken the common debate of CFP (Certified Financial Planner) and CWM (Chartered Wealth Manager). Happy Learning!!

  2. Alessio Clay says

    Very informative article. Well I also need an advice from you. Actually the thing is I have a keen interest in investment management and also in portfolio management, so I want to know which one will suit for me i.e CFA or CWM?

    • Dheeraj Vaidya says

      Thanks for the note. Well if you have very keen interest in investment management, portfolio management or else in equity research and investment banking, then CFA suits you more. However, CWM (Chartered Wealth Manager) is a certification suited best for professionals in the field of wealth management, private banking, family offices and financial advisory. Hope this was helpful for you.

  3. Riddhi says

    Can you send me mock papers with solution for CWM level II.

  4. sunil mistry says

    do u have any study notes or correspondence classes,if u have notes then we can prepare and then register for the exam because after registration u have to finish within 1 yr.so it is better to prepare first and then register for the course.
    if u have any notes regarding cwm course then let me inform.
    thanxs
    sunil mistry

  5. shivangi rathore says

    hi,
    i AM really confused between cfp and cwm which is better .

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