Today sees the launch of a new international association for wealth managers, with support from WealthBriefing and Scorpio Partnership.

Today sees the launch of a new international association for wealth managers, with support from WealthBriefing and Scorpio Partnership.

The Swiss Financial Analysts Association SFAA, together with its affiliate AZEK, the academy for investment professionals, UK and international training provider Central Law Training and LawInContext, the interactive knowledge and training venture of law firm Baker & McKenzie, have created a new non-profit industry association, the Association of International Wealth Management.

The association has been formed, in part, in response to calls within the industry itself for a worldwide body to represent the interest of, and give guidance to, the wealth managers. Stephen Harris, editor of WealthBriefing and Sebastian Dovey, managing partner of Scorpio Partnership have been invited onto the advisory board of the association. Both have been vocal in the need for a global wealth management association and will act as ambassadors and advisors.

The new association’s first announcement is the launch, with Central Law Training, of the Certified International Wealth Manager programme in the UK.

The CIWM qualification is designed to produce the highly qualified specialists who are critical to supporting the growth in the private banking industry. The UK training programme is aimed at experienced professionals operating within the private banking industry. It combines theoretical knowledge with practical skills in the fields of taxation, law and regulation, real estate, as well as wealth planning and relationship management.

The programme will launch in the UK in May 2008, with tutoring beginning in September 2008 and a final examination due to take place in September 2009. The CIWM diploma is currently offered in Switzerland, France, Germany, Italy and Monaco.

Philip Marcovici, president of the AIWM and chief executive of LawInContext, said: “We are delighted to be working with CLT in the UK to provide this unique qualification for wealth management professionals. Our expansion into the UK market is a logical consequence of London's emergence as a leading global centre for private wealth management. With planned expansion into other key markets such as the US, Singapore and Dubai, our aim is to establish CIWM as the globally recognised standard for qualification in private banking.”