The Investment Management Consultants Association is hoping to expand its Certified Investment Management Analyst designation program to Canada, after 10 years of success in the U.S.
Elizabeth Schulman, president of IMCA, recalls just hoping to fill classes when the program began; and now there's a two-year waiting list of prospective students.
IMCA expects classes to begin in 1999, but the organization first has to find a Canadian university where the classes will be held, in addition to teachers who are experts on the differences between U.S. and Canadian pension laws.
Professors at the Wharton School of the University of Pennsylvania currently instruct classes in Philadelphia and San Jose, Calif. The week-long sessions are scheduled seven times a year and are designed in conjunction with the school.
"It's been growing like gangbusters," Ms. Schulman said.
In 1988, there were two classes with a total of 50 students. This year there will be seven classes with more than 300 students. A total of 1,000 CIMA designations will have been granted by the end of the year, according to IMCA.
The program is expected to spread to other locations across the U.S., possibly to other schools that have expressed interest in hosting the program.
While most students have been consultants, plan sponsors and some of the big six accounting firms have been getting into the act.
The larger accounting firms are interested in taking the classes to expand their areas of service to plan sponsors, Ms. Schulman said.