A pretty expensive investment to get an MBA "just for yourself" if you ask me. Most formal education is garbage and cannot be applied to life other than getting the foot in the door with potential employers or fill your resume to speak to potential investors/backers. But of course there are also many who lack self-esteem and self-confidence and believe they need the education nameplate to make up for their otherwise boring appearance in life. Self-justification so to speak.
Interesting. What is your background and education level. I would not have worked full time from 6:30am to 5:30pm each day then go to night classes to prop up my self-esteem. I was also self employed through much of it living my dream. I don't regret it. I also took a course on derivatives that helped me understand options and write a program in BASIC to run my morning sheets and keep track of my values and Greeks.
In the US it can get you out of some RIA licenses. Rather than getting a CFA, why not take some night or online MBA finance classes? The CFA level 1 is really Corporate Finance 101 in any MBA/business program. Level 2 is like Finance 201. Level 3 is a little different but you can avoid the costs by buying some the materials and studying on your own. The designation has little value outside of traditional mutual fund PM roles. newwurldmn, CFA
I never suggested you belong the latter group I mentioned. I simply stated in summary that paying more than a hundred thousand for a grad school degree and by that extension any formal educational studies that cost money and a huge investment in time are quite useless unless they are really applied to a greater goal such as a job or getting funded or recognized in an industry being self-employed.
Interesting that you weigh an MBA more highly. The trend right now for Finance is more technical/quantitative specialization. Yes, it is also getting commoditized. I think an MBA is more suitable if you want a Product Management job at a consumer goods company or just general management positions. When talking to a CFA, I am assured that I am speaking with a person who shares the common body of knowledge for practicioners in the industry. Not some guy who , heaven forbid, might have some whacky indicators in the closet. The dealer certifications by comparison would be equivalent to a driving test.
So, let's go back to the OP's original checklist. 1) & 2) is for validation purposes. I don't know a more cost efficient pursuit. 3) throws the whole thread into a tangent on regulatory compliance. Wouldn't you agree the best way to handle that is by outsourcing the hairy matter to a firm that specializes in it? The elementary CME pdf on CTA start ups even recommends this. So, 3) is a moot point.
xandman, If you are asking me, I don't expect that 3) is correct. No regulatory body requires a CFA to be an RIA, CTA or CPO.
many state regulators will let you register as an RIA if you have stuff like CFA, CFP and waive the requirement of passing the series 65. The series 65 is a very easy test with just a few days of study required.
I'm not aware of that, but it is still not a requirements. And, the 65 takes the average person 4 weeks of studying part time, under $300 for study material and the cost of the exam. I'd say the CFA will cost more in time and money.