Chartered Investment Counselor (CIC)

Definition

The term Chartered Investment Counselor refers to a designation awarded to individuals working as investment advisors and possessing advanced portfolio management skills.  The Chartered Investment Counselor, or CIC, program is administered by the Investment Adviser Association (IAA).  The purpose of the award is to identify individuals with significant experience as investment counselors and managing portfolios.

Explanation

The Chartered Investment Counselor, or CIC, refers to a designation awarded to individuals with qualifications and experience consistent with those outlined in the Investment Advisers Act of 1940.  This includes the fiduciary and ethical responsibility the adviser has to their clients as well as their experience and skills.

The CIC program was developed along with the Institute of Chartered Financial Analysts and a key requirement of the CIC award is the successful completion and holding of the CFA designation.  In addition to being a CFA charterholder, CIC candidates must also demonstrate significant investment counseling and portfolio management expertise.  Candidates must also possess a minimum of five years of experience in an eligible position at an IAA member firm.

As part of the application process, candidates must identify their job responsibilities such as economic research and securities analysis.  Candidates must also provide work and character references and complete an ethics questionnaire.  Applications are reviewed twice each year, with deadlines for consideration being April 1st and October 1st.

Related Terms

CFP Exam, CPA Exam, CFA Eam, CFS Exam, ChFC ExamCIMA, CMT, CLU Exam, CFE Exam, FRM Exam