FAQs
What types of membership are there?
Regular, Affiliate and Adjunct.
What are the requirements of membership?
Regular Membership: An applicant for Regular membership must be a financial analyst, which is defined as an individual spending a substantial portion of time evaluating and applying financial, economic, or quantitative information in the investment decision-making process in the field of banking, trust offices, insurance, investment counseling, investment companies, securities firms, employee benefit organizations, endowment funds, foundations, financial publishing houses, other institutional investors or similar organizations in the private sector, or in government or public agencies whose activities are concerned with or influence financial, investment and economic issues. In addition to those whose principal occupation is that of financial analysis, this definition of a financial analyst extends to include individuals whose principal occupation is the direct or indirect supervision of financial analysts as defined above or the teaching, administration, or conduct of research in the field of financial analysis at a college or university, such as a professor (including assistant and associate professor) or dean.
- The applicant must have at least three years experience as a financial analyst (as defined above) and successful completion and passing of CFA I.
- The applicant must have a bachelor degree from an accredited academic institution or equivalent education and work experience.
These occupational and educational requirements may be waived if the applicant is a CFA.
Affiliate Membership: An applicant for Affiliate membership must satisfy one of the following minimum requirements:
- The applicant must have one year of experience in financial analysis and provide evidence of enrollment in the CFA program with the intention of taking CFA I;
- Be a teacher or research fellow in the field of financial or economic analysis at a college or university;
- Be regularly employed for a period of at least three years in a field such as venture capital, real estate, treasury, corporate finance, money management consulting, or other disciplines closely allied to financial analysis and who, in the opinion of the Board of Directors of the Corporation, would make a contribution to the programs and work of the Philadelphia CFA Society, Inc.; or
- Have at least six years experience in financial analysis.
Are the benefits for Regular, Affiliate and Adjunct Members the same?
Only Regular Members may become Officers and Directors of the Society, may vote at Society meetings, and can sponsor applicants for membership.
How much does membership in CFAP cost?
Membership dues are $100 annually for Regular, Affiliate and Adjunct members. (This does not include CFA Institute dues.)
How long is the application process?
It depends on when your completed application is received by CFAP. Applications for membership are voted on at each Board of Directors meeting. The Board meets once a month except in July and August. Applicants and the CFA Institute are notified upon acceptance.
I don't know many CFAP members. Where can I find sponsors for my application?
CFAP have volunteer sponsors. Email Membership Chair David Brune (david.brune@haverfordtrust.com) for your request. Your assigned volunteer sponsors get to know you through phone calls and/or meetings to make sure you meet membership requirements.
My questions are not listed here. Who should I contact?