CFA Society Kansas City Annual Report 2013-2014

CFA Society
Kansas City
2013-2014 Annual Report
2013-2014
Officers
Mission
The mission of the CFA Society Kansas City is to provide a regional forum for
the discussion of investments, economics and finance and to promote high
standards of expertise and ethical conduct among investment professionals.
Vision
President
Scott Ward, CFA
Draper and Kramer, Inc.
• A Society that is widely recognized, well respected and highly valued by the
investing public, academia and the investment community in our region
• A Society that continues to enhance brand awareness of the Chartered
Financial Analyst designation within and outside the investment industry
• A Society whose members are actively committed to enhancing the value of
Vice President
Michael White, CFA
Commerce Trust Company
Treasurer
John Indellicate II, CFA
Scout Investments
Secretary
Matthew Montgomery, CFA
FCI Advisors
www.cfakc.org
the organization through active engagement and willingly give of their time
as volunteers
• A Society whose membership is recognized for their commitment to ethics
and professional excellence
• A Society that fosters a culture of inclusion, diversity and respect among
investment professionals
Table of Contents
4
5
6
7
8
9
10
12
13
14
15
16
18
Message from the President
Officers, Directors, Committees
Past Presidents
Vice President’s - Education Chair Update
New Charterholders
Treasurer’s Update
Profit and Loss Report
Balance Sheet
2013-2014 Program Review
Technology Update
Public Awareness Update
CFA Institute Research Challenge
Membership Stats
Message from the President
Scott J. Ward, CFA
President, CFA Society Kansas City
Dear Fellow KC CFA Society Members,
Our society is thriving with over 450 members and consistently excellent programs and
events. The board and volunteers work hard to deliver value to our membership through
prudent planning and wise allocation of resources. Our society is positioned well for
continued success in the future.
We had a full calendar of engaging events this year: monthly speaker programs, the golf tournament, the
research challenge, the mock exam, the new charterholders dinner and a couple of networking happy hours.
Thanks to our annual golf tournament over the past several years, we were able to add $100,000 to an
endowed scholarship at UMKC with $50K coming from our society and $50K being matched by a grant
from the Bloch Family Foundation.
The Research Challenge was another highlight this year. A team from Kansas City won the local and regional
competition and went on to compete as one of the top three teams globally in Singapore.
New initiatives this past year included:
1.
2.
3.
4.
A new upgraded website and social media presence
A Board Manual to help provide continuity and consistency
A Newsletter to help communicate with our membership
The Benjamin Korschot Scholarship
Thank you to all the board members with whom I have had the pleasure of working through the years and
especially our Executive Administrator, Julie Froneberger. Working with this group over the past many years has
produced laughter and friendships and most importantly an outstanding CFA society of which I am proud to be
a member.
Thank you.
4
2013-2014 Officers, Directors and Committees
Officers
President
Scott Ward, CFA
Draper and Kramer, Inc
Vice President
Michael White, CFA
Commerce Trust Company
Treasurer
John Indellicate II, CFA
Scout Investments
Secretary
Matthew Montgomery, CFA
FCI Advisors
Past President
Laurian Lytle, Ph.D, CFA
University of Central Missouri
Directors
Director
Michael Marks, CFA
Commerce Trust Company
Director
George Hersh, CFA
UMB Financial
Director
Kevin Jaegers, CFA
Mutual Fund Store
Director
Peter Vrooman, CFA
Wells Fargo Advisors
Director
Matt Johnson, CFA
Kornitzer Capital
Director
Satu Stechschulte, CFA
FCI Advisors
Committees
Program Committee
Michael Marks, CFA
George Hersh, CFA
Peter Vrooman, CFA
Research Challenge Committee
Laurian Lytle, Ph.D, CFA, Chair
Matthew Montgomery, CFA
Peter Vrooman, CFA
Membership Committee
Matt Johnson, CFA
Golf Fundraising Event Committee
John Indellicate, CFA
Matt Johnson, CFA
Education Committee
Michael White, CFA
Public Awareness Committee
Matthew Montgomery, CFA
5
Scholarship Committee
Michael White, CFA
Matthew Montgomery, CFA
Laurian Lytle, CFA
Peter Vrooman, CFA
Past Presidents
6
2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 Laurian Lytle, Ph.D, CFA
Michael Fogarty, CFA
Christopher M. Bouffard, CFA
Jonathan L. Bauman, CFA
K.C. Mathews, CFA
Christie E. Cody, CFA
Gilbert C. Scott, CFA
Brian E. Perott, CFA
Timothy G. Michel, CFA
Jonathan B. Lewis
Molly Ann Kerr, CFA
James D. Wineland
Gregory H. Bokach, CFA
Heather P. Maynard
John E. Sundeen, Jr. CFA
John C. Korschot, CFA
Cleo G. Simmonds
Steven E. Pohle, CFA
Robert F. Marchesi
Robert D. Hunley
Louise D. Rieke, CFA
Robert G. Alley, CFA
Mark E. Eveans, CFA
Dennis Hudson
1989 1988 1987 1986 1985 1984 1983 1982 1981 1980 1978 1977 1976 1975 1972 1971 1970 1969 1968 1966 1962 1961 1957 1955 Patrick Sterner, CFA
Henry J. Herrman, CFA
Robert N. Sawyer, CFA
Russell E. Thompson
Charles M. Duboc
Grafton M. Potter, CFA
Carter R. Harrison, Jr. CFA
Thomas E. Weiford, CFA
David U. Fitzcharles, CFA
Charles E. Heath, CFA
Bryant P. Barnes
Richard P. Halverson, CFA
Lowell J. Benson, CFA
William M. Stillman
Edward B. Weltner
Larry L. Neal
John M. Holliday
William L. Atwood
Charles A. Duboc
Don S. Williams
Ray B. Duboc
Harry Wuerth
Edward M. Cox
William L. Embree
Vice President - Education Chair Update
7
Michael White, CFA
In fiscal year 2014, the CFA Society Kansas City continued its effort to promote the CFA
designation via outreach to both universities and CFA candidates. It is through these efforts that we strive to raise awareness of and promote the CFA designation in the Kansas City
community. Below are some of the highlights from the past fiscal year.
In November, the Society congratulated our newest CFA Charterholders following a dinner in their honor held at Lidia’s Kansas City.
CFA Exam Scholarships
In December, we were pleased to award seven CFA Institute CFA Exam Access Scholarships.
Entirely funded by the CFA Institute, these scholarships helped defray a portion of the cost of
registering for the 2014 CFA Exams.
David Colbert
Zhao Gong Rukhsora Rakhmatova
Benjamin Taylor
John Coleman
Salman Rahman
Jared Stricklin
In the spring of 2014, the Society again provided two opportunities for CFA Candidates to
further prepare for the June 2014 CFA Exam. The Society provided access to the USC/CFALA CFA
Exam Review Program, a live-streaming review course available online to candidates sitting for
all three levels of the CFA Exam. Additionally, CFA Society Kansas City hosted a Mock Exam in
May at the American Century Auditorium, providing candidates the opportunity to take part in a
simulated exam environment, from registration upon arrival to a timed exam provided by either
the Boston Securities Analysts Society or Kaplan Schweser. The answer key to the exam was
provided for the purpose of self-grading, and participants also had the option of purchasing and
taking home with them the exam and answer key for the exam they did not take live.
CFA Society Kansas City again hosted a post-exam party at the Granfalloon on the Country Club
Plaza immediately following the June 2014 CFA Exam. Food and drinks were provided, as the
candidates networked and celebrated the completion of another CFA Exam.
Late in fiscal year 2014, Jacob Boan, a student at UMKC, was named as the first recipient of the
newly-established Benjamin C. Korschot Scholarship. Mr. Korschot, who passed away in 2010,
played a significant role in the advancement of the investment industry on a local, national and
global basis. His contributions include serving as Chair of the Board of Directors of the Financial
Analysts Federation in 1978-79, and later serving as Chair of the Board of Governors of the
Investment Company Institute from 1980-82. This $5,000 scholarship will be awarded
annually and is open to any graduate or undergraduate student in the area of investments,
in their third year of study or later.
New Charterholders
8
New Charterholders
CFA Society Kansas City congratulates its newest charterholders of 2013. You’ve worked for years
toward this global achievement and it will set you apart in the financial industry for the rest of
your career. As charterholders, you represent the highest standard of ethics, education, and
professional excellence. You are now part of a team of leaders set to guide the financial industry
to better serve society.
2013 New Charterholders:
Laura Boyer, CFA
Bradley Di Teresi, CFA
Brett Grady, CFA
Kirk Hatfield, CFA
Kelly Jernigan, CFA
Thomas Kubick, CFA
John Rabroker, CFA
Nicholas Stark, CFA
Daniel Trgovich, CFA
Jack Wheeler, CFA
Ryan Cope, CFA
Brandon Gillett, CFA
Dan Gruemmer, CFA
Nicholas Holmes, CFA
Casey Johnson, CFA
Ramzi Lakkis, CFA
Samuel Romersberger, CFA
David Streeter, CFA
William Weeks, CFA
Jordon Cranston, CFA
Andrew Good, CFA
Jason Harris, CFA
David Holzman, CFA
Sean Ketcherside, CFA
Tilak Mandal, CFA
Jeffrey Smith, CFA
Zachary Swalley, CFA
Nicholas Weis, CFA
Treasurer Update
John Indellicate II, CFA
The CFA Society Kansas City maintained its strong balance sheet during 2013-2014. Reserves continue to be in excess of two years operating budget, which gave the board confidence to maintain roughly the same level of spending as the prior year, despite recognizing some headwinds to the revenue line.
Revenues of $109,088 were 23% lower than last year. Membership dues were down 22%,
in part because a large portion of members pulled forward their renewals into the previous fiscal year. Golf
revenue was also lower, falling 34%. Again, this was due to a tough comparison, as the previous fiscal year
reported above average revenue due to several 2012 sponsors making their cash payments after the
June 30th fiscal year end. Billing and collections efforts for the golf event have improved dramatically,
resulting in a tighter correlation between the calendar year and fiscal year cash receipts.
Expenses fell 4% to $96,955. Relative to the budget approved by the board early in the fiscal year,
programming expense was lower than budget mainly due to the ability of the programming committee
to find high quality speakers without the need to pay speaker fees. The Research Challenge also came in
under budget, as the winning team had fewer team members, requiring fewer per person expenses.
Overall operating income fell 71% to $12,132 as the lower revenue flowed through the income statement.
This was well within the board’s expectations, which had made the strategic decision to continue spending
to maximize value to the members, rather than continue to build reserves on the balance sheet.
The Board took action during the year to work down the funds on the balance sheet designated for
scholarships, which had built over several years of successful golf tournaments. As such, the board approved
a $50,000 contribution to endow a scholarship at UMKC’s Bloch School of Business, taking advantage of a
generous matching program that was being offered. Total assets and equity on the balance sheet dropped as
a result, driven entirely by the assets designated for scholarships. Undesignated assets rose because of the
positive operating income.
The balance sheet and profit & loss statement are presented on the following pages.
9
CFA Society Kansas City Profit and Loss
July 2013 - June 2014
Income
CEP Continuing Education Programs
CFA Institute
CFA Institute Operational Funding
CFA Institute Research Challenge
Total CFA Institute
Interest Income
UMB interest
Total Interest Income
Job Postings
Membership Dues
SO - Society Outreach
SO Mock Exam
Total SO - Society Outreach
SP - Social Programs
SP Golf Players
SP Golf Sponsors
Total SP - Social Programs
Total
4,746.48
$
$
$
318.43
318.43
1,200.00
36,030.00
1,295.73
1,295.73
3,150.00
$ 45,750.00
$ 48,900.00
Total Income
$ 119,672.54
Gross Profit
$ 119,672.54
Expenses
Administration Expenses
ADMIN Bank & CC Fees
ADMIN Board Meeting Expenses
ADMIN Management Fee
ADMIN Other Administrative
ADMIN Postage & Delivery
ADMIN Professional Services
ADMIN Software License Fees
ADMIN Telecommunications
Total Administration Expenses
1,397.25
2,213.73
14,140.00
207.90
883.30
1,285.00
461.52
369.40
$ 20,958.10
CEP Expenses
CEP Food/Beverage
CEP Miscellaneous
CEP Promotional
CEP Speaker Fees
Total CEP Expenses
10
22,681.90
4,500.00
27,181.90
13,124.53
1,441.02
1,010.19
1,502.80
$
17,078.54
CFA Society Kansas City Profit and Loss
11
July 2013 - June 2014
Total
CFA Institute Expense
CFA Institute Research Challenge
CFA ResCh Company Presentation
CFA ResCh Finals Presentation
CFA ResCh General Supplies
CFA ResCh KickOff Event
CFA ResCh Scholarship Awards
CFA ResCh Travel Reg & Global Challenges
Total CFA Institute Research Challenge
Total CFA Institute Expense
1,032.33
2,341.65
87.37
900.14
8,260.00
934.06
$ 13,555.55
$ 13,555.55
SD - Society Development
SD Miscellaneous
SD Promotion
SD Society Outreach
SD Travel
Total SD - Society Development
142.00
6,001.77
7,626.32
5,602.23
$ 19,372.32
SP - Social Programs
SP Golf
SP Happy Hours
SP Promotion
Total SP - Social Programs
Unapplied Cash Bill Payment Expense
$
$
2,823.07
5,130.61
202.84
8,156.52
3,368.05
Total Expenses
$ 75,752.98
Net Operating Income
$ 43,919.56
Other Expenses
Specific Scholarship Awards
Total Other Expenses
50,000.00
$ 50,000.00
Net Other Income
$ 50,000.00
Net Income
$
6,080.44
CFA Society Kansas City Balance Sheet
12
As of June 30, 2014
ASSETS
Current Assets
Bank Accounts
CHECKING ACCOUNTS
Commerce 1924
Total CHECKING ACCOUNTS UMB CD 1.05% 41650 UMB CD 3 91650 UMB CD CC 91650 Total Bank Accounts
Total Current Assets
Total Assets
Liabilities and Equity
Liabilities
Current Liabilities
Credit Cards
UMB Visa
Total Credit Cards
Total Current Liabilities
Total Liabilities
Equity
Appropriated FB - Scholarships
Un-Appropriated Fund Balance
Net Income
Total Equity
Total Liabilities and Equity
Total
123,356.66
$ 123,356.66
81,844.97
70,518.42
10,231.93
$ 285,951.98
$ 285,951.98
$ 285,951.98
$
$
$
200.00
200.00
200.00
200.00
65,490.00
226,342.42
-6,080.44
$ 285,751.98
$ 285,951.98
2013 - 2014 Program Review
13
January 24, 2013
Why Evil HFT Isn’t Bad for Investors, Just Investment Managers
Harold Bradley
March 11, 2013
Energy Gone Wild: Our Quest for Energy Independence
Kevin Birzer
April 18, 2013
Why Economics Can’t Explain the Modern World
Deirdre McCloskey
May 15, 2013
Investment Forum
Gary Cloud, Mark Eveans, James Moffett
September 25, 2013
Federal Reserve Event
Esther George
October 3, 2013
Global Growth in the Next Decade
James Little
November 1, 2013
The Current Financial Situation in Washington
Kevin Yoder
January 30, 2014
Making Money in Fixed Income
Craig Blessing, Brian Musielak
March 12, 2014
Creativity in the Investment Process
Tom Brakke
April 2, 2014
Comprehensive Approach to Private Wealth Management
Stephen Horan
Technology Update
Kevin Jaeger, CFA
Quite a bit of progress was made in the technology committee’s first year on the board. Social media accounts were established and are now in routine maintenance, which
ultimately provides another method for communication with society members and
awareness among CFA candidates. In addition, we were excited to launch a new website during the year, bringing a number of benefits to our members and board. The new site
offers a good deal of flexibility for content management and event registration, is more
user friendly in terms of navigation and layout, better integrates with our social media platforms and provides
easy storage and access to board materials. Goals over the coming year will be to create archives or live
streams of society events, more focus on photography and exploring additional ways to leverage our social
media platforms.
twitter.com/CFAKC
facebook.com/CFASocietyKansasCity
linkedin.com/groups/
CFA-Society-Kansas-City-3968385
www.cfakc.org
14
Public Awareness Update
Matthew Montgomery, CFA
Over the past year, the CFA Society of Kansas City has pursued and benefited from a
number of opportunities to publicly promote our institute and our mission. First and
foremost, the success of the University of Missouri-Kansas City team making it to the finals
of the CFA Institute Research Challenge provided us with a wonderful opportunity to raise
public awareness of our initiatives through local outlets. Our local media, including the
Kansas City Star, picked up on the success of the team and ran an article on the
competition. Over the past several years, this investment challenge has proven helpful in raising public
awareness of the society and our mission not only among college students, but among the general public as
well. We look forward to the future growth of the CFA Institute Research Challenge and the success of our
local universities in that competition.
Every November, the Society hosts a dinner to honor new charter holders and welcome them. This year, in
addition to the charter holder’s dinner, we placed an announcement in the Kansas City Star Business Weekly,
congratulating each of these new charter holders. We believe that this was an effective way to announce the
accomplishment of each of our 2013 new members and generate awareness of the CFA program.
The Society has also gained recognition through its support of the Kansas City Symphony. For the third
straight year, we placed a half-page advertisement in the playbills distributed at all of the regularly scheduled
performances of the Kansas City Symphony. We continue to receive a discounted rate for this advertisement.
The board has received positive feedback from numerous members concerning the playbill advertisements,
as many of our members have local clients who regularly attend the symphony. As a result of this positive
feedback, we plan to continue this effort next year.
CFA Society
Kansas City
Setting a higher standard for the
Kansas City investment community
15
www.cfakc.org
CFA Institute Research Challenge Update
As industry professionals, there was a time in each of our lives when were just deciding to pursue a career in
the investment industry. For most of us it was in our formative college days when we were trying to learn
everything we could to give us the best shot of reaching our goals. For years, one of the leading interests of our
local Kansas City Society has been to facilitate the education and development of bright young college
students in our community who are just starting that path into the world of finance, similar to ours years ago.
As the success of our Annual Golf Fundraising Event has grown, we have made an effort to use the excess
funds generated from the event to provide scholarships to our local universities. Our goal, with the help of the
universities, has been to identify bright, young, local candidates who have already decided to pursue a career
in investment management. The ideal candidates are those who have already taken coursework in finance and
investment management and plan to continue that focus on the graduate level, with the eventual goal of
pursuing their CFA Charter and a career in our industry.
In our efforts to find the best use for our society scholarship funds, we have researched endowment
opportunities with several local universities. In 2007 we decided to endow an initial CFA Society Scholarship
fund with the University of Missouri-Kansas City in the amount of $30,000. In 2009 we contributed an additional
$5,000 to that fund. We have been pleased with our experience with the University over the years, and with the
benefits to recipients. The funds have provided needed assistance to many eventual graduates of the Bloch
School who ended up in the investment industry.
In 2013, in an effort to find a home for additional scholarship funds, we learned of a matching program with the
Bloch Business School, whereby any scholarship commitments made to the school would be matched by the
Bloch Endowment. As we researched opportunities with other local universities, we found that this was very
unique. Early this year we decided to make an additional commitment to our original scholarship with the school
in the amount of $50,000, which was matched by the Bloch Endowment. This brought our total CFA Endowment
principal to $135,000, making it the largest and most attractive scholarship for the best and brightest
students majoring in investments and finance. The scholarship will now produce $6,075 available for annual
distribution to a student in the Bloch Business School.
The University has been a terrific partner in our efforts and they are very grateful for our generosity. According
to the acting Dean, David Donnelly, “As the Bloch School continues its momentum toward becoming a nationally
preeminent school of management by growing and adding innovative programs, doubling student enrollment
and hiring the best faculty, attracting the best and brightest students to Bloch is imperative for our success.
The generosity of donors like the CFA Society makes it possible for us to do so, and we continue to seek
community partners in building this initiative.”
Our Society is now focusing on the establishment of a second scholarship in the name of one of the early
leaders of our local society, Mr. Ben Korschot. Mr. Korschot, who passed away in 2010, was fundamental in the
growth of our society and in the investment community in Kansas City. Our plan is to establish a scholarship in
his name, in the annual amount of $5,000, open to any graduate or undergraduate student in the area of
investments, in their third year or later. We are still finalizing the details of this scholarship but will certainly
provide more details in the near future.
2013-2014 Winning Team
University of Missouri-Kansas City
16
Derek Bembry, Jacob Boan,
Jerod Stricklin, and Faculty Advisor,
John Clark, PhD, CFA
2013 - 2014 Volunteers
CFA Institute Resarch Challenge
Mentors
Justin Brown, CFA American Century Investments
Lois Cox, CFA Kansas State University Foundation
Peter Grieg, CFA FCI Advisors, Inc.
Chris Harrington, CFA Boyer and Corporon Wealth
George Hersh, CFA UMB
Sean Ketscherside, CFA Derek Smashey, CFA Scout Investments
Zach Swartz, CFA BKD Wealth Advisors LLC
Gary Cloud CFA FCI Advisors, Inc.
Susan Escher, CFA Symphony Financial Group
Mike Hackmann, CFA Carter Harrison, CFA FCI Advisors, Inc.
Jeff Hoernemann, CFA Scout Investments
Matthew Norris, CFA Waddell & Reed
Scott Stephenson, CFA Commerce Bank
Graders
Gary Anderson, CFA Scout Investments Timm Bechter, CFA John Indellicate, CFA Scout Investments
Matthew Montgomery, CFA FCI Advisors, Inc.
Todd Sanders, CFA Elarco Management Company
Zach Swartz, CFA BKD Wealth Advisors LLC
Mark Weber, CFA Scout Investments
Deborah Barnhart, CFA Douglas County Bank
Paul Franzen, CFA Commerce Bank
Michael Marks, CFA Commerce Bank
Jeff Otto, CFA American Century Investments
Marc Scott, CFA American Century Investments
Peter Vrooman, CFA Wells Fargo Advisors
Adam West, CFA Nuance Investments
Judges
Paul Cox, CFA FCI Advisors, Inc.
Angel Lupercio, CFA Scout Investments
Michael Orndorff, CFA American Century Investments
Phil Sanders, CFA Waddell & Reed
Larry Valencia, CFA UMB Michael Fogarty, CFA Scout Investments
Don McArthur, CFA Commerce Bank
James Reed, CFA Scout Investments
Satu Stechschulte, CFA FCI Advisors, Inc.
Gregory Woodhams, CFA American Century Investments
Volunteers
Jonathan Baumann, CFA American Century Investments Chris Bouffard, CFA The Mutual Fund Store
Julian Buegers
Kevin Jaegers, CFA The Mutual Fund Store
Todd LaRose, CFA
Sean O’Neill
John Pecis
Thad Sieracki
Nicholas Stark, CFA American Century Investments
Mock Exam
Aaron Deuser, CFA Exemplar Wealth Mgmt
Sam Romersberger, CFA Vantage Investment Partners
Nick at Commerce Commerce Bank
17
Membership Stats
Total Active Members in Society:
Total Completed Professional Profiles:
Percentage of Completed Professional Profiles:
Total Unaffiliated Members in Society Area:
Total Active Members in Society Region:
476
467
98.10%
93
0
Charterholder
Charterholder
Charterholder
Non-Charterholder
Active Members
420
56
% of Total
88.20%
11.80%
Unaffiliated Members
90
3
% of Total
96.80%
3.20%
Active Members
52
424
476
% of Subtotal
10.90%
89.10%
100.00%
Unaffiliated Members
15
78
93
% of Subtotal
16.10%
83.90%
100.00%
Active Members
25
61
93
71
58
70
36
27
18
459
17
17
% of Subtotal
5.40%
13.30%
20.30%
15.50%
12.60%
15.30%
7.80%
5.90%
3.90%
96.40%
100.00%
3.60%
Unaffiliated Members
0
6
9
19
17
14
14
7
4
90
3
3
% of Subtotal
0.00%
6.70%
10.00%
21.10%
18.90%
15.60%
15.60%
7.80%
4.40%
96.80%
100.00%
3.20%
Gender
Gender
Female
Male
Subtotal / % of Total
Age Range
Age Range
26 - 30
31 - 35
36 - 40
41 - 45
46 - 50
51 - 55
56 - 60
61 - 65
> 65
Subtotal / % of Total
No Data
Subtotal / % of Total
18
Membership Stats
Educational Degrees Held
Degree
Bachelors or equivalent
Masters or equivalent
MBA
Doctorate - PhD, EdD or equiv.
JD
Subtotal / % of Total
Active Members
275
162
63
8
7
418
% of Subtotal
65.80%
38.80%
15.10%
1.90%
1.70%
87.80%
Unaffiliated Members
40
47
9
5
1
86
% of Subtotal
46.50%
54.70%
10.50%
5.80%
1.20%
92.50%
Active Members
9
11
84
83
85
196
468
8
8
% of Subtotal
1.90%
2.40%
17.90%
17.70%
18.20%
41.90%
98.30%
100.00%
1.70%
Unaffiliated Members
4
0
8
11
17
50
90
3
3
% of Subtotal
4.40%
0.00%
8.90%
12.20%
18.90%
55.60%
96.80%
100.00%
3.20%
% of Subtotal
94.00%
1.10%
0.20%
2.10%
2.60%
98.10%
100.00%
1.90%
Unaffiliated Members
82
1
0
2
5
90
3
3
93
% of Subtotal
91.10%
1.10%
0.00%
2.20%
5.60%
96.80%
100.00%
3.20%
Total
Active Members
439
5
1
10
12
467
9
9
476
Primary Asset Base
Institutional
Private
Both
N/A
Subtotal / % of Total
No Data
Subtotal / % of Total
Total
Active Members
105
141
111
87
444
32
32
476
% of Subtotal
23.60%
31.80%
25.00%
19.60%
93.30%
100.00%
6.70%
Unaffiliated Members
22
24
16
21
83
10
10
93
Years in Industry
Years in Industry
Not Applicable
5 years or less
6 to 10 years
11 to 15 years
16 to 20 years
Over 20 years
Subtotal / % of Total
No Data
Subtotal / % of Total
Employment Status
Employment Status
Full-Time
Part-Time
Student
Unemployed
Retired
Subtotal / % of Total
No Data
Subtotal / % of Total
Primary Asset Base
19
% of Subtotal
26.50%
28.90%
19.30%
25.30%
89.20%
100.00%
10.80%
Membership Stats
Assets Under Management
AUM (in $USD)
< 250 million
250 million < 1 billion
1 billion < 5 billion
5 billion < 20 billion
20 billion < 50 billion
50 billion < 250 billion
> 250 billion
N/A
Prefer not to answer
Subtotal / % of Total
No Data
Subtotal / % of Total
Active Members
37
36
63
78
29
99
9
74
17
442
34
34
% of Subtotal
8.40%
8.10%
14.30%
17.60%
6.60%
22.40%
2.00%
16.70%
3.80%
92.90%
100.00%
7.10%
Unaffiliated Members
17
10
12
11
2
3
3
19
6
83
10
10
% of Subtotal
20.50%
12.00%
14.50%
13.30%
2.40%
3.60%
3.60%
22.90%
7.20%
89.20%
100.00%
10.80%
% of Subtotal
0.60%
0.30%
2.20%
5.90%
5.90%
4.50%
3.90%
72.30%
4.50%
75.20%
100.00%
24.80%
Unaffiliated Members
0
1
2
3
3
5
4
40
5
63
30
30
93
% of Subtotal
0.00%
1.60%
3.20%
4.80%
4.80%
7.90%
6.30%
63.50%
7.90%
67.70%
100.00%
32.30%
Parent Assets Under Management
Parent AUM (in $USD)
< 250 million
250 million < 1 billion
1 billion < 5 billion
5 billion < 20 billion
20 billion < 50 billion
50 billion < 250 billion
> 250 billion
N/A
Prefer not to answer
Subtotal / % of Total
No Data
Subtotal / % of Total
Total
20
Active Members
2
1
8
21
21
16
14
259
16
358
118
118
476
Membership Stats
Institutional Asset Type
Institutional Asset Type
Bank/Investment Bank
Endowment/Foundation
External Corporations
Government/Municipal Entity
Hedge Fund
Insurance Company
Internal Corporate/Proprietary
Mutual Fund/
Investment Company
Pension Fund
Other
Subtotal / % of Total
No Data
Subtotal / % of Total
Total
Active Members
21
20
11
6
3
19
2
79
% of Subtotal
9.70%
9.30%
5.10%
2.80%
1.40%
8.80%
0.90%
36.60%
Unaffiliated Members
8
4
1
3
0
5
1
9
% of Subtotal
21.10%
10.50%
2.60%
7.90%
0.00%
13.20%
2.60%
23.70%
28
27
216
260
260
476
13.00%
12.50%
45.40%
100.00%
54.60%
3
4
38
55
55
93
7.90%
10.50%
40.90%
100.00%
59.10%
Average Account Value
Average Account Value
Less than US $1 million
US $1 million to $5 million
US $5 million to $10 million
US $10 million to $50 million
US $50 million to $100 million
More than US $100 million
Not Applicable
Subtotal / % of Total
No Data
Subtotal / % of Total
Total
Active Members
62
76
14
6
2
5
93
258
218
218
476
% of Subtotal
24.00%
29.50%
5.40%
2.30%
0.80%
1.90%
36.00%
54.20%
100.00%
45.80%
Unaffiliated Members
14
11
1
0
1
0
13
40
53
53
93
% of Subtotal
35.00%
27.50%
2.50%
0.00%
2.50%
0.00%
32.50%
43.00%
100.00%
57.00%
% of Subtotal
66.20%
6.50%
5.40%
21.80%
93.30%
100.00%
6.70%
Unaffiliated Members
47
6
8
22
83
10
10
93
% of Subtotal
56.60%
7.20%
9.60%
26.50%
89.20%
100.00%
10.80%
Buy Side - Sell Side
Buy Side - Sell Side
Buy Side
Sell Side
Buy Side / Sell Side
Neither
Subtotal / % of Total
No Data
Subtotal / % of Total
21
Active Members
294
29
24
97
444
32
32
Total 476
Membership Stats
Primary Investment Practice
Investment Practice
Commodities
Derivatives
Equities
Fixed Income
Foreign Currency
Hedge Funds
Indexed
Private Equity
Real Estate
Structured Products
Venture Capital
Other
Not Applicable
Subtotal / % of Total
No Data
Subtotal / % of Total
Total
Active Members
1
3
256
68
1
2
2
14
9
4
1
23
59
443
33
33
476
% of Subtotal
0.20%
0.70%
57.80%
15.30%
0.20%
0.50%
0.50%
3.20%
2.00%
0.90%
0.20%
5.20%
13.30%
93.10%
100.00%
6.90%
Unaffiliated Members
0
0
30
21
0
1
0
2
2
0
0
5
22
83
10
10
93
% of Subtotal
0.00%
0.00%
36.10%
25.30%
0.00%
1.20%
0.00%
2.40%
2.40%
0.00%
0.00%
6.00%
26.50%
89.20%
100.00%
10.80%
% of Subtotal
24.50%
31.00%
77.70%
65.50%
14.90%
17.40%
24.70%
23.60%
27.80%
18.30%
10.00%
15.10%
21.20%
94.30%
Unaffiliated Members
22
31
53
54
12
19
18
18
21
14
9
11
29
86
93
% of Subtotal
25.60%
36.00%
61.60%
62.80%
14.00%
22.10%
20.90%
20.90%
24.40%
16.30%
10.50%
12.80%
33.70%
92.50%
Investment Practice
Investment Practice
Commodities
Derivatives
Equities
Fixed Income
Foreign Currency
Hedge Funds
Indexed
Private Equity
Real Estate
Structured Products
Venture Capital
Other
Not Applicable
Subtotal / % of Total
Total
22
Active Members
110
139
349
294
67
78
111
106
125
82
45
68
95
449
476
Membership Stats
Occupation
Occupation
Active Members
Accountant/Auditor
2
Broker
4
Chief Executive
31
Consultant
16
Corporate Financial Analyst
15
Financial Advisor
24
Investment Banking Analyst
8
Manager of Managers
10
Portfolio Manager
175
Relationship Manager
19
Research Analyst
73
Risk Manager
4
Strategist
12
Trader
9
Other
23
Subtotal / % of Total
425
No Data
51
Subtotal / % of Total
51
Total
476
% of Subtotal
0.50%
0.90%
7.30%
3.80%
3.50%
5.60%
1.90%
2.40%
41.20%
4.50%
17.20%
0.90%
2.80%
2.10%
5.40%
89.30%
100.00%
10.70%
Unaffiliated Members
1
1
11
2
4
7
0
2
25
0
12
2
4
0
8
79
14
14
93
% of Subtotal
1.30%
1.30%
13.90%
2.50%
5.10%
8.90%
0.00%
2.50%
31.60%
0.00%
15.20%
2.50%
5.10%
0.00%
10.10%
84.90%
100.00%
15.10%
Active Members
193
239
158
150
299
349
191
243
138
% of Subtotal
42.30%
52.40%
34.60%
32.90%
65.60%
76.50%
41.90%
53.30%
30.30%
Unaffiliated Members
33
42
30
27
52
52
37
44
21
% of Subtotal
37.50%
47.70%
34.10%
30.70%
59.10%
59.10%
42.00%
50.00%
23.90%
29
131
6.40%
28.70%
10
21
11.40%
23.90%
334
154
136
190
126
73.20%
33.80%
29.80%
41.70%
27.60%
59
25
27
30
21
67.00%
28.40%
30.70%
34.10%
23.90%
456
476
95.80%
88
93
94.60%
Topics of Interest
23
Areas of Interest
Alternative Investments
Behavioral Finance
Corporate Finance
Derivatives
Economics
Equity Investments
Financial Statement Analysis
Fixed Income
Leadership, Management,
and Communication Skills
None of the Above
Performance Measurement
and Evaluation
Portfolio Management
Private Wealth Management
Quantitative Methods
Risk Management
Standards, Ethics, and
Regulations (SER)
Subtotal / % of Total
Total
Membership Stats
Additional Designations
Other Designations
ACCA
ASA - Accredited
Senior Appraisers
ASA - Assocate of the
Society of Actuaries
CAIA
CCM (US)
CFM (US)
CFP
CIA (US)
CIC
CIMA
CLU
CMA (US)
CMT
CPA
CPA (Austrailia)
CPA - PFS
CTFA
CTP (US)
ChFC
FRM
FSA
PRM
Subtotal / % of Total
Active Members
1
4
Total
% of Subtotal
1.20%
4.90%
Unaffiliated Members
0
0
% of Subtotal
0.00%
0.00%
2
2.50%
0
0.00%
5
4
1
17
2
2
1
4
3
1
36
2
1
1
4
4
5
2
0
81
468
6.20%
4.90%
1.20%
21.00%
2.50%
2.50%
1.20%
4.90%
3.70%
1.20%
44.40%
2.50%
1.20%
1.20%
4.90%
4.90%
6.20%
2.50%
0.00%
17.30%
2
0
1
8
0
0
0
0
1
1
13
0
0
0
0
2
4
3
1
28
92
7.10%
0.00%
3.60%
28.60%
0.00%
0.00%
0.00%
0.00%
3.60%
3.60%
46.40%
0.00%
0.00%
0.00%
0.00%
7.10%
14.30%
10.70%
3.60%
30.40%
% of Subtotal
0.20%
0.20%
99.60%
100.00%
Unaffiliated Members
0
0
93
93
93
% of Subtotal
0.00%
0.00%
100.00%
100.00%
Counts by Preferred Country
Preferred Country
Canada
Korea
USA
Subtotal / % of Total
Total
24
Active Members
1
1
474
476
476
Membership Stats
U.S. State
State
AZ
CA
CO
IA
IL
IN
KS
MO
NY
OK
TX
Subtotal / % of Total
Total
Active Members
1
1
3
0
2
1
274
186
1
1
4
474
474
% of Subtotal
0.20%
0.20%
0.60%
0.00%
0.40%
0.20%
57.80%
39.20%
0.20%
0.20%
0.80%
100.00%
Unaffiliated Members
0
0
0
1
0
0
63
29
0
0
0
93
93
% of Subtotal
0.00%
0.00%
0.00%
1.10%
0.00%
0.00%
67.70%
31.20%
0.00%
0.00%
0.00%
100.00%
% of Subtotal
100.00%
100.00%
Unaffiliated Members
0
0
0
% of Subtotal
0
0
Canadian Province
Province
NS
Subtotal / % of Total
Total
25
Active Members
1
1
1
CFA Society
Kansas City
www.cfakc.org
`