RIA Glossary / Professional Credentials & Licensing

Certified Investment Management Analyst (CIMA)

Quick Answer
The Certified Investment Management Analyst (CIMA) is a professional designation focused on advanced investment consulting and portfolio construction, awarded to candidates who complete an executive education program, pass an exam, and meet ongoing experience and continuing education requirements.
Reviewed by Sam Carter, Director of Registration Services
Last reviewed September 18, 2026

What Is the Certified Investment Management Analyst (CIMA) Designation?

The Certified Investment Management Analyst (CIMA) program covers topics like asset allocation, manager due diligence, risk measurement, and behavioral finance, aimed at professionals who advise on portfolio construction at an institutional or high-net-worth level. Unlike some other designations, CIMA candidates typically complete their education through an accredited university-affiliated executive program before sitting for the certifying exam, and the credential requires periodic renewal through continuing education.

Like other professional designations, CIMA doesn’t itself satisfy the securities exam requirement for IAR registration (such as the Series 65) unless specifically recognized as a qualifying designation under a given state’s rules.

Why it Matters

For firms emphasizing sophisticated portfolio construction or institutional consulting services, CIMA-credentialed staff can be a meaningful E-E-A-T and marketing signal — but firms should confirm current state-specific rules before relying on it as an exam substitute for registration purposes.

Frequently Asked Questions

Does CIMA replace the Series 65 requirement?

In some states, recognized professional designations can waive the exam requirement — but this varies by state and should be confirmed directly rather than assumed.

How is CIMA different from CFA?

CIMA focuses specifically on investment consulting and portfolio construction practice, while the CFA program covers a broader investment analysis and portfolio management curriculum.
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Related Terms

Series 65

What Is the Series 65 Exam? Administered by FINRA on behalf of state regulators, the Series

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