Certified Investment Management Specialist - CIMS

DEFINITION of 'Certified Investment Management Specialist - CIMS'

A professional designation for investment managers that was conferred by the Institute for Investment Management Consultants to associate members who passed an exam and met work-experience requirements in the financial services industry. Prior to 2002, CIMS was a lower-level designation that could lead to the Certified Investment Management Consultant (CIMC) designation.

BREAKING DOWN 'Certified Investment Management Specialist - CIMS'

In 2002, the CIMC program was merged into the Investment Management Consultants Association's Certified Investment Manager Analyst (CIMA) program, which has been around since 1988. Existing CIMC holders maintain their designations, but new applicants obtain the CIMA designation.

Other professional designations financial advisors and investment managers may hold include Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), Personal Financial Specialist (PFS), Chartered Financial Consultant (ChFC), Certified Private Wealth Advisor (CPWA) and Chartered Investment Counselor (CIC). Each of these designations indicates that the holder has met certain standards of professional education, knowledge and experience and has agreed to abide by a code of ethics and stay abreast of new developments in their areas of professional expertise in order to act in the client's best interest.