Accredited Asset Management Specialist

MoneyBestPal Team
A financial planner who specializes in asset management.

An Accredited Asset Management Specialist (AAMS) is a financial planner who specializes in asset management. 

Asset management is the process of developing and putting into practice a plan to maximize the efficiency and worth of a client's investments. An AAMS helps clients with various aspects of asset management, such as:
  • Evaluating the client's financial objectives, risk tolerance, and time horizon
  • Creating a strategy to allocate their assets in accordance with their requirements and preferences
  • Deciding on the right investment items and cars
  • Keeping track of and rebalancing their stock portfolio
  • Providing ongoing advice and guidance

An AAMS is qualified to deal with complicated asset management issues, including tax ramifications, estate planning, retirement planning, and charitable giving. Additionally, an AAMS can collaborate with other experts, such as accountants, attorneys, and insurance agents, to offer complete financial solutions to their clients.

What are the benefits of becoming an AAMS?

Becoming an AAMS can offer several benefits for your career and your clients. Some of the benefits are:
  • Enhanced credibility and reputation: The financial sector regards an AAMS as a qualified and skilled asset management specialist. Possessing this certification can make you stand out from the competition and draw in more customers.
  • Increased knowledge and skills: An AAMS is required to complete a demanding education program covering a range of asset management-related subjects. You can broaden your knowledge and improve your talents in this field by obtaining this designation.
  • Continued learning and development: Every two years, an AAMS must fulfill continuing education requirements to keep their credentials active. By doing this, you can be sure that you're up to date on the most recent trends and advancements in financial planning and asset management.
  • Higher-income potential: An AAMS can charge higher rates for their services and make more money from the sales of their goods. PayScale reports that the average annual pay for an AAMS in the US is $73,000.

How to become an AAMS?

To become an AAMS, you have to meet the following requirements:
  • Have at least two years of relevant work experience in financial services
  • Complete the AAMS education program offered by the College for Financial Planning
  • Pass the AAMS examination
  • Agree to abide by the code of ethics and standards of professional conduct of the College for Financial Planning
  • Complete 16 hours of continuing education every two years

The AAMS education program consists of 10 modules that cover various topics related to asset management, such as:
  • Asset allocation
  • Investment strategies
  • Risk management
  • Taxation
  • Retirement planning
  • Estate planning
  • Behavioral finance
  • Client communication

The course can be taken at your own speed and is provided online. The $1,300 package includes access to practice tests, study guides, and online help.

The AAMS exam is a 100-question multiple-choice online test that is proctored. To finish the test, you have two hours. The cost of the program includes the $225 exam fee. To pass the test, you must obtain a score of at least 70%.

Through the website of the College for Financial Planning, you can apply to the program if you're interested in becoming an AAMS. On their website, you may discover more details regarding the distinction.