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Record number of candidates apply for CFA training

The president and chief executive of the global association of investment professionals, said 48,981 candidates took the graduate-level exam last year, with 37 per cent passing.

Mr Rogers said the dedication shown by investment professionals taking the CFA programme demonstrated a strong desire to build a more trustworthy industry and develop a culture where ethical practice was equally as important as investment performance.

A typical candidate takes three years to complete the CFA training programme.

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He added: “Although major equity markets have rebounded since their 2009 lows, public confidence in the financial industry remains at a very low level.

“Today’s successful candidates are one step closer to earning the CFA designation, which, after 50 years, remains the gold standard in education for investment professionals emphasising the highest ethical and professional standards.”

Carl Melvin, managing director of Renfrewshire-based Affluent Financial Planning, said: “I think you’ll find that not that many advisers have a CFA qualification, as it tends to be more technical and aimed towards fund managers.

“Nevertheless, the fact that the CFA has had a record amount of candidates taking the exam is a good thing, and reinforces the growing professionalism in the industry.”