Since the IAA was founded in 1937, it has always prescribed certain principles of conduct to guide its members in the practice of the investment counsel profession.
In 1975, the IAA established the Chartered Investment Counselor (CIC) Program in order that excellence and experience in the investment counsel profession might be better recognized.
The Charter was designed to recognize the special qualifications of persons employed by IAA member firms whose primary duties are consistent with section 208(c) of the Investment Advisers Act of 1940 (pertaining to the use of the term “investment counsel”), as well as with the professional responsibilities and professional qualifications set forth in Sections I and II of the Association’s Standards of Practice:
- An investment adviser is a fiduciary and has the responsibility to render professional, continuous, and unbiased investment advice oriented to the investment goals of each client.
- To enable a member firm to serve its clientele effectively, its investment and managerial personnel should be individuals of experience, ability, and integrity.