The Association for Investment Management and Research (AIMR) was founded in 1990 through the merger of the Financial Analysts Federation (FAF) and the Institute of Chartered Financial Analysts (ICFA). It has since made significant contributions to advancing the investment management profession and upholding high ethical standards in the industry. AIMR has established the Chartered Financial Analyst (CFA) designation as the premier credential for investment professionals worldwide. With a growing membership over 140,000 across 137 countries, AIMR has helped raise standards of professional excellence and integrity for investment practitioners globally. Its educational programs, professional codes of conduct, and advocacy initiatives continue to elevate the investment profession.
AIMR was established through the merger of FAF and ICFA, the two leading investment professional bodies at the time
The Association for Investment Management and Research (AIMR) was formed in 1990 through the merger of the Financial Analysts Federation (FAF) and the Institute of Chartered Financial Analysts (ICFA). FAF was founded in 1947 as a federation of investment analyst societies in the United States and Canada. ICFA was established in 1962 to administer the Chartered Financial Analyst curriculum and designation. As the two leading professional investment organizations at the time, their merger created AIMR as the largest global professional body in investment management and research. AIMR represented over 50,000 investment professionals worldwide through its member societies and individual members. The creation of AIMR brought together FAF and ICFA’s shared missions of upholding high professional and ethical standards in the investment industry.
AIMR established the CFA designation as the gold standard for investment professionals
One of AIMR’s most significant contributions was establishing the Chartered Financial Analyst (CFA) designation as the premier professional credential for investment managers and analysts globally. The CFA program was first introduced by ICFA in 1962 with the first CFA exam held in 1963. Over the next decades, AIMR worked to promote the CFA designation worldwide as the highest standard of excellence in investment knowledge, professional skills, and ethical practices. Obtaining the CFA charter signifies mastery of a broad, rigorous curriculum covering investment analysis, valuation, asset allocation, and portfolio management. CFA charterholders must also adhere to a strict code of ethics and standards of professional conduct. Under AIMR’s leadership, the CFA program experienced tremendous growth with over 90,000 candidates registering for the June 2000 exams.
AIMR expanded its global presence across 137 countries with over 140,000 members
As AIMR worked to advance the investment profession worldwide, its global membership expanded rapidly. From the original founding societies in the U.S. and Canada, AIMR’s membership grew to encompass 137 countries by the 2000s. Total membership surpassed 140,000, reflecting the organization’s success in engaging investment practitioners internationally. AIMR established member societies throughout Europe, Asia-Pacific, Middle East, and Latin America. Global conferences, education programs, and advocacy initiatives fostered an integrated worldwide investment community aligned to AIMR’s high standards.
AIMR rebranded itself as the CFA Institute in 2004 to focus on the CFA designation
By the early 2000s, the CFA program had become AIMR’s most recognized contribution to the investment profession. In 2004, AIMR rebranded itself as the CFA Institute to emphasize its role in administering the CFA curriculum and designation. The rename to CFA Institute reflected the prominence of the CFA charter globally and the centrality of the program to the organization’s mission. While AIMR covered a broad range of investment research and management activities, the CFA Institute chose to focus strategically on the CFA designation as its flagship offering. The CFA Institute has continued AIMR’s legacy of advancing ethics, professional standards, and excellence for investment managers through the preeminent CFA credential.
AIMR’s codes of ethics and professional standards remain cornerstones of the investment industry
Among AIMR’s enduring impacts on the investment profession are the codes of ethics and professional standards it established. AIMR’s Code of Ethics and Standards of Professional Conduct set benchmarks for ethical practices and professional excellence that remain cornerstones today. The Standards of Practice Handbook covered fundamental areas including ethics, disclosure, duties to clients and employers, and investment analysis. These standards provided a framework to guide investment professionals and promote public trust in the industry. Additionally, AIMR advocated for regulatory policies, performance reporting standards, and continuing education to further elevate investment practice. Although AIMR rebranded as the CFA Institute, its foundational codes and standards continue to shape the global investment landscape.
In summary, the Association for Investment Management and Research made pivotal contributions to advancing the investment profession worldwide. As a global organization representing over 140,000 investment practitioners, AIMR established the CFA designation as the gold standard credential and upheld rigorous ethical codes and standards. Its legacy continues today through the CFA Institute’s focus on the premier CFA charter and the enduring professional standards first championed by AIMR.