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American Academy of Financial Management

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The American Academy of Financial Management is a USA based Board of Standards, certifying body, and accreditation council dedicated to the finance sector and management professionals.

The AAFM was founded in 1996 through a merger of the American Academy of Financial Management & Analysts (AAFMA) and the Founders Advisory Committee of the Original Tax and Estate Planning Law Review of the United States. AAFM is a registered trademark.

The AAFM offers multiple professional membership, certifications, and designations. The portfolio of professional designations that AAFM offers are registered copyrights and trademarks owned around the world by the AAFM Board of Standards. Members must either have come through one of the AAFM recognized university programs (such as Universities within AACSB, ACBSP, EQUIS, AICPA and American Bar Association etc), or through a CHEA or equivalent government recognized executive educational program, or in some rare cases through grandfathering of PhDs, Lawyers, or CPAs by way of board/peer review. The AAFM Board has never directly provided training, but as a global provider of certification, standards, and accreditation, the AAFM has recognized hundreds of approved providers.

Criticism

In October 2010, the Wall Street Journal published an article exposing the practice of advisors using questionable credentials that discussed the AAFM extensively. The article investigated the membership of AAFM's Global Board of Academic Advisors & Professors, noting that it included numerous individuals who had never given their authority to appear on the association's website. The founder of the AAFM, George Mentz, is quoted to support the finding that many standards boards, AAFM included, award credentials without requiring applicants to undergo any sort of assessment or examination. Representatives of both the CFA Institute and the CFP Board, which administer Chartered Financial Analyst and Certified Financial Planner certificate programs, respectively, were quoted in the article denying claims made on the AAFM website that they had a special affiliation with the AAFM.

References

  1. "The RIA's Compliance Solution Book: Answers for the Critical Questions‎ - Page 274"
  2. "US Department of Labor - BLS Career Information"
  3. "California Government Career Guide"
  4. "AAFM US Government Trademark Reference"
  5. "Directory of Global Professional Accounting and Business Certifications‎ by Wiley and Co. - Page 264"
  6. "Is Your Advisor Pumping Up His Credentials - October 16, 2010"

External links

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