What is an Accredited Asset Management Specialist (AAMS)?
– Definition: The AAMS is a professional credential issued by the College for Financial Planning (a Kaplan company) to financial professionals who finish a self-study curriculum, pass a final exam, and accept a professional code of conduct. It signals competency in personal asset management and related client advice.
Key points at a glance
– Purpose: Prepares entry-level advisors to counsel clients about personal finances, investments, retirement planning, tax considerations, college savings, and estate basics.
– Audience: New financial advisors, registered representatives, client relationship managers, and others transitioning into advisory roles.
– Program length & format: Self-study, delivered online with 10 modules and prerecorded materials; introduced in 1994.
– Exam: 80 multiple‑choice questions, 3‑hour time limit, pass mark 70% (two attempts allowed).
– Maintenance: Holders must complete continuing education and pay renewal fees to keep the designation active. Requirements and fees can change; verify current rules with the issuer.
What an AAMS professional does
– Provide guidance on personal asset allocation, investment selection, retirement savings strategies, college funding options, and basic tax/estate implications.
– Use client fact-finding and case studies to create practical recommendations consistent with clients’ goals and risk tolerance.
– Work in roles such as financial advisor, registered investment advisor, financial consultant, or client relationship manager.
How to attain the AAMS — step-by-step checklist
1. Enroll through the College for Financial Planning / Kaplan platform and purchase access to the AAMS program.
2. Study the 10-module curriculum (online videos, readings; optional printed materials if offered).
3. Complete the required study within the access window (you will typically have 120 days from access to finish and take the exam).
4. Sit the final exam: 80 questions, 3-hour limit, passing score = 70% or higher. You get two attempts.
5. Agree to the College’s code of ethics and any disclosure requirements.
6. Maintain the credential by completing the continuing education requirement and paying the renewal fee on schedule. (Confirm current CE hours and renewal fee with the College; published descriptions vary.)
Worked numeric examples
– Passing score in raw questions: 70% of 80 = 0.70 × 80 = 56 correct answers required to pass.
– Study scheduling example: If you have the standard 120 days (≈17 weeks) and plan 6 study hours per week: 6 × 17 = 102 hours total study. If you prefer module pacing, 120 days ÷ 10 modules = 12 days per module on average.
AAMS vs. CFP — how they differ
– Level and scope: AAMS is positioned as an entry-level asset-management credential focused on practical personal-finance topics. CFP (Certified Financial Planner) is a broader, more advanced certification that covers comprehensive financial planning across a lifetime.
– Experience requirement: CFP certification requires substantial documented planning experience (for example, several thousand hours of qualifying work), while AAMS is designed for newer advisors and does not demand the same experience precondition.
– Career implications: AAMS can help establish credibility and practical skills quickly; CFP is widely regarded as the leading professional standard for comprehensive financial planners and typically opens more advanced career paths.
Special considerations and notes
– Regulatory stance: FINRA and other regulators do not endorse or “approve” third‑party credentials; they list and comment on industry designations but do not certify them. Always confirm a designation’s meaning and limits with the issuing organization.
– Continuing education recognition: Some firms and credentialing bodies may grant continuing-education credit for completing AAMS modules (one cited figure is 28 hours for certain organizations), but policies vary.
– Time to study: Actual study time depends on prior experience. Newcomers should allow longer than experienced advisors.
Fast facts
– The AAMS program began in 1994.
– Passing the AAMS final exam earns credit for a module in CFP coursework (reported as module FP511 by the CFP education program).
– The College for Financial Planning is the program sponsor; Kaplan now owns the College.
Sources for further information
– Investopedia — Accredited Asset Management Specialist (AAMS): https://www.investopedia.com/terms/a/accredited-asset-management-specialist-aams.asp
– College for Financial Planning (program sponsor): https://collegeforfinancialplanning.com/
– Kaplan (program information and education services): https://www.kaplan.com/
– CFP Board (about the Certified Financial Planner credential): https://www.cfp.net/
– FINRA (investor education and industry oversight): https://www.finra.org/
Educational disclaimer
This explainer is for educational purposes only. It does not constitute individualized investment advice, a recommendation to pursue any credential, or a guarantee about career outcomes. Verify current program details, fees, and continuing‑education requirements directly with the credentialing organization before enrolling.