Say goodbye to AIMR and hello to CFA Institute.
In proxy ballots now being mailed to members, the board of governors of the Association for Investment Management and Research has proposed changing the name of the Charlottesville, Va.-based organization to CFA Institute.
That way, the non-profit group will avoid the confusion that results from sponsoring two acronyms: AIMR, for the parent organization, and CFA, for the chartered financial analysts' designation.
More than 75% of members polled favored switching to a name that incorporates CFA. While two proposed choices — CFA International and CFA Institute — drew equal support from members, the latter won more support from society leaders and board members, explained Jim Cudahy, AIMR vice president of marketing and communications.
AIMR officials believe that incorporating CFA in the organization's name will better promote the group's main brand, as well as the organization as a whole. What's more, 94% of members are CFA charterholders or candidates, up from 65% in 1990, when the Institute of Chartered Financial Analysts and the Financial Analysts Federation merged to form AIMR.
If the name change is approved at AIMR's annual meeting, slated for May 9, the new name will become effective Sept. 1.