What the Course Entails and Exam Details

The AWMA® curriculum, administered by the College for Financial Planning—a Kaplan Company, is structured around a specialized body of knowledge focused on the high-net-worth market. The program delves into a range of advanced topics, ensuring designees are prepared to offer sophisticated advice.

Key areas of study include:

• Getting to Know Your High-Net-Worth Client
• Investment Risk, Return, and Performance
• Advanced Investment Products and Strategies
• Income Tax Strategies for High-Net-Worth Clients
• Executive Benefits Planning for High-Net-Worth Clients
• Estate Planning for High-Net-Worth Clients
• Considerations for Business Owners, including Succession and Exit Planning
• Fiduciary and Regulatory Issues for Financial Services Professionals
• Behavioral Finance

Successful completion of the program requires a dedicated study plan, typically involving an online self-study course that guides students through reading assignments, video lectures, and module quizzes.

What to Expect in the Final Exam

The AWMA® designation is awarded after passing a final, proctored, and timed end-of-course examination. This exam is designed to be rigorous, testing not only your theoretical knowledge but also your ability to synthesize complex concepts and apply them to real-life situations through technical case studies.

Here are the specific details of the final exam:

• Format: The final exam is computer-based and primarily consists of multiple-choice questions. It includes case-study scenarios where you must apply your knowledge to provide the best advice for a high-net-worth client.
• Time Limit: Candidates are allotted a maximum of three hours to complete the examination.
• Passing Score: To earn the AWMA® designation, you must achieve a score of 70% or higher.
• Attempts: The enrollment package typically includes a maximum of two attempts to pass the final exam.
• Results: Performance trackers are often available to help candidates understand their areas of strength and weakness.

 How to Study and Exam Centers

Preparation is crucial for success on the AWMA® final exam. A disciplined and structured approach will ensure you can apply advanced financial concepts under timed conditions.

Effective Study Strategies:

• Leverage Official Materials: Start with the comprehensive designation package from the College for Financial Planning. Thoroughly read the eBooks, watch all OnDemand video lectures, and participate in community forums.
• Master the Quizzes: Do not rush through the 30-question module quizzes. Use them as diagnostic tools. Review every question you answer incorrectly, understanding the detailed rationale provided.
• Utilize the Practice Exam: Treat the provided AWMA® Practice Exam as a simulation of the final test. The practice exam is designed to mirror the actual test in difficulty, format, and topical coverage. Take it under timed conditions to gauge your readiness and identify areas needing further review.
• Focus on Application: The exam tests practical application. When studying a concept like 'tax reduction alternatives,' don't just memorize the definition; ensure you understand how to apply it to a business owner's unique situation.

Exam Center and Taking the Exam:

• Proctored Online: The final exam is taken online in a closed-book, proctored environment. You can typically take the exam from your own home or office, provided you meet the proctoring technical requirements.
• Scheduling: Upon completing the course modules, you will be able to schedule your final proctored exam through your online learning portal provided by the College for Financial Planning.

Job Opportunities from the Course

Earning the AWMA® designation signals to clients and employers that you possess specialized expertise in handling complex wealth. It is a powerful differentiator in the competitive financial services landscape, often leading to increased earnings and expanded client bases.

Graduates of the program unlock several prestigious career paths:

• Private Wealth Manager
• Wealth Advisor (focusing on HNW and UHNW clients)
• Financial Planner for High-Net-Worth Individuals
• Family Office Investment Manager
• Estate Planning Consultant
• Portfolio Manager
• Wealth Management Specialist in large financial institutions or independent firms

For professionals dedicated to serving the top tier of the market, the AWMA® provides the necessary tools and credibility for career advancement.