DEFINITION of 'Chartered Investment Counselor - CIC'
A designation awarded by the Investment Adviser Association (IAA) to individuals who have earned the Chartered Financial Analyst professional designation, who are currently working as investment advisers, and who have demonstrated investment counseling and advanced portfolio management skills, often by overseeing large accounts and mutual funds. CICs must work in an eligible position for an IAA member firm, uphold a code of ethical conduct and submit professional and character references.
BREAKING DOWN 'Chartered Investment Counselor - CIC'
As fiduciaries, CICs must provide personalized, unbiased advice that is in the client's best interest. The CIC designation also requires at least five years of eligible work experience. Eligible occupations are those in which more than 50% of job time is dedicated to ongoing investment counseling and portfolio management. CICs must be recertified annually.