--- title: Chartered Fund Specialist (CFS) | Definition, Qualifications, & Modules description: Learn about Chartered Fund Specialists, what they are and what they do. Also, find out the advantages, disadvantages, and requirements of becoming one. image: https://www.carboncollectiveinvesting.com/hubfs/Chartered_Fund_Specialist_(CFS)_-_FI.png --- [![Carbon collective](https://www.carboncollectiveinvesting.com/hubfs/raw_assets/public/CarbonCollective_August2021%20copy/images/carbon-collective-green-investing-logo-white.4f6047d4.svg "Carbon collective")](https://www.carboncollectiveinvesting.com/) - About - Employers - [Sustainable 401(k)](https://www.carboncollectiveinvesting.com/401k) - [401(k) Comparison Tool](https://www.carboncollectiveinvesting.com/401k/plan-comparison-tool) - Individuals - [FAQ](https://www.carboncollective.co/en/knowledge/faqs) - [ETF](https://www.carboncollectivefunds.com/) - Learn - [Sustainable Investing](https://www.carboncollective.co/sustainable-investing) - [Investing Basics](https://www.carboncollective.co/sustainable-investing/investing-basics) - [Blog](https://blog.carboncollective.co/) - [Tools](https://tools.carboncollective.co/calculator/) - Log in - [Carbon Collective](https://app.carboncollective.co) - [Altruist](https://app.altruist.com) [Talk to a human](https://ask.carboncollective.co/f4o5dylkg) [Sign up](https://app.carboncollective.co/sign-up) [Log In](http://app.carboncollective.co/) [![Carbon collective](https://www.carboncollectiveinvesting.com/hubfs/raw_assets/public/CarbonCollective_August2021%20copy/images/carbon-collective-green-investing-logo.53b28bee.svg "Carbon collective")](https://www.carboncollectiveinvesting.com/) - About - Employers - [Sustainable 401(k)](https://www.carboncollectiveinvesting.com/401k) - [401(k) Comparison Tool](https://www.carboncollectiveinvesting.com/401k/plan-comparison-tool) - Individuals - [FAQ](https://www.carboncollective.co/en/knowledge/faqs) - [ETF](https://www.carboncollectivefunds.com/) - Learn - [Sustainable Investing](https://www.carboncollective.co/sustainable-investing) - [Investing Basics](https://www.carboncollective.co/sustainable-investing/investing-basics) - [Blog](https://blog.carboncollective.co/) - [Tools](https://tools.carboncollective.co/calculator/) - Log in - [Carbon Collective](https://app.carboncollective.co) - [Altruist](https://app.altruist.com) [Talk to a human](https://ask.carboncollective.co/f4o5dylkg) [Sign up](https://app.carboncollective.co/sign-up) [Log In](http://app.carboncollective.co/) **[Home](https://www.carboncollectiveinvesting.com/) > [Sustainable Investing](https://www.carboncollectiveinvesting.com/sustainable-investing) >** Chartered Fund Specialist (CFS) # Chartered Fund Specialist (CFS) ![](https://www.carboncollectiveinvesting.com/hubfs/Brooke%20Tomasetti.png) Written by Brooke Tomasetti | Reviewed by [Subject Matter Experts](https://www.carboncollectiveinvesting.com/subject-matter-experts) Updated on October 1, 2024 Fact Checked Why Trust Carbon Collective? ### Table of Contents ## **Understanding What a CFS Does** The Institute of Business & Finance (IBF) certifies professionals as Certified Fund Specialists (CFS) for their knowledge of mutual funds and the mutual fund sector. The CFS designation denotes that a financial professional can manage mutual funds and formulate advanced investment plans. The certificate, created in 1988 and granted by the San Diego–based [Institute of Business and Finance (IBF)](https://icfs.com/), is one of the oldest qualifications a financial professional may obtain. A licensed fund specialist can advise you on the finest mutual funds and related issues, such as exchange-traded funds (ETFs), real estate investment trusts (REITs), and closed-ended funds. Taking into account all of your other [assets](https://www.carboncollectiveinvesting.com/sustainable-investing/asset-accounts), a CFS may provide advanced fund analysis and guidance on asset allocation, portfolio creation, risk management, and estate planning. It should be noted, however, that a CFS is not permitted to purchase or sell mutual funds until they receive the Series 6 license. A certified fund specialist's purpose is to assist clients in understanding their investments without overcomplicating them. A competent CFS should clearly explain which stocks and assets are worth investing in and which should be avoided. Furthermore, they may manage particular demands for your fund portfolio and propose actions based on what is best for you rather than what is best for everyone else. ## **CFS vs CFA** The Chartered Financial Analyst (CFA) is a globally recognized investment management designation awarded by the CFA Institute. It is considered the gold standard in the industry, and those who obtain it typically work in high-level positions at banks, hedge funds, and other financial institutions. The CFS designation is not as well-known as the CFA, but financial professionals still respect it. The main difference between the two qualifications is that the CFS focuses on mutual funds. At the same time, the CFA covers a broader range of topics, such as ethics, derivatives, and portfolio management. ## **Qualifications and Requirements** Before taking the exam, candidates must have a bachelor's degree or 2,000 hours of financial services job experience. An IBF-provided six-module self-study program is also required. The IBF estimates that individuals may finish the certification in around 15 weeks, albeit once enrolled in the program, they have one year to complete the course. To obtain the CFS certification, you must pass three proctored online tests and complete a case study. The IBF will charge you $1,365 for the certification. Registration, tuition, textbooks, review questions, practice examinations, reference sheets, shipping, final exams, case study, and a diploma are all included in the total fee. Continuing education requirements for certified fund professionals must also be met. The IBF also offers continuing education, which aims to provide professionals with a competitive advantage in understanding modern investment technologies and market practices. Certified fund experts must complete 30 hours of continuing education every two years to maintain their certification. ## **Program Modules** The Certified Fund Specialist Exam is a six-module curriculum built on case studies that illustrate what practitioners could encounter in their regular encounters with clients. The entire curriculum takes about 23 hours of study time over 15 weeks and covers a range of mutual fund subjects. A bachelor's degree or 2,000 hours of equivalent industry experience is required. The following are the six program modules: ![Program_Modules_Of_Certified_Fund_Specialist_Exam](https://www.carboncollectiveinvesting.com/hs-fs/hubfs/Program_Modules_Of_Certified_Fund_Specialist_Exam.png?width=1920&height=1080&name=Program_Modules_Of_Certified_Fund_Specialist_Exam.png) ### **Module I - Financial Planning** Topics covered include regulation, structure, costs, and titling. ### **Module II - Investments (Choices and Time Value Analysis)** This encompasses management and fund selection, risk management, stocks, fixed-income investments, and hybrids, among other subjects. ### **Module III - Real Estate** The subjects covered are tax-free [bonds](https://www.carboncollectiveinvesting.com/sustainable-investing/bond), money market accounts, and the time worth of money. ### **Module IV - Portfolio Management** Topics covered include portfolio construction, asset allocation, rebalancing, asset categories, market indicators, real estate investment trusts, exchange-traded funds, and closed-end funds. ### **Module V - Insurance** Risk, [market timing](https://www.carboncollectiveinvesting.com/sustainable-investing/market-timing), knowing whether to sell an investment, and income taxes are the subjects covered. ### **Module VI - Retirement Plans and Employee Benefits** This final module looks at the basics of asset allocation, the efficient frontier, optimizing asset allocation, and current portfolio theory. ## **Advantages of Obtaining CFS ** There are several advantages to obtaining the CFS designation: ![Advantages_and_Disadvantages__to_obtaining_the_CFS_designation](https://www.carboncollectiveinvesting.com/hs-fs/hubfs/Advantages_and_Disadvantages__to_obtaining_the_CFS_designation.png?width=1920&height=1080&name=Advantages_and_Disadvantages__to_obtaining_the_CFS_designation.png) - This designation is globally recognized, which means that financial professionals around the world will respect it. - The CFS is explicitly focused on mutual funds, a growing area in the financial industry. It allows you to provide comprehensive advice to clients about mutual funds. - Obtaining the CFS designation shows that you are committed to your career and have taken the time to invest in your education. ## **Disadvantages of Obtaining CFS** There are also a few disadvantages to consider before obtaining the CFS designation: - The main disadvantage is that the CFS designation is not as well-known as the CFA, so it may not open as many doors in terms of job opportunities. - Another disadvantage is that the CFS designation is explicitly focused on mutual funds. If you're interested in working in another area of the financial industry, this may not be the best designation for you. ## **Key Takeaways** The Chartered Fund Specialist (CFS) designation is a professional credential awarded by the Institute of Business & Finance (IBF) to financial professionals who complete a self-study program and pass three proctored online exams. The CFS designation is specific to mutual funds, while the Chartered Financial Analyst (CFA) designation covers a broader range of topics. To be eligible for the CFS designation, candidates must have a bachelor's degree or 2,000 hours of equivalent industry experience.  It also requires continuing education to maintain, and the IBF offers a range of courses to meet this requirement. The main advantage of the CFS designation is that it allows financial professionals to give comprehensive advice to clients about mutual funds.  The main disadvantage is that the CFS designation is not as well-known as the CFA, so it may not open as many doors in terms of job opportunities. ## **FAQs** ### 1. What is the Chartered Fund Specialist (CFS) designation? The Chartered Fund Specialist (CFS) designation is a professional credential awarded by the Institute of Business & Finance (IBF) to financial professionals with specialized knowledge of mutual funds and the mutual fund sector ### 2. Who is eligible for the CFS designation? To be eligible for the CFS designation, candidates must have a bachelor's degree or 2,000 hours of equivalent industry experience. ### 3. What are the requirements to maintain the CFS designation? The CFS designation requires 30 hours of continuing education every two years. The IBF offers a range of courses to meet this requirement. ### 4. What are the advantages of the CFS designation? The main advantage of the CFS designation is that it allows financial professionals to give comprehensive advice to clients about mutual funds. ### 5. What are the disadvantages of the CFS designation? The main disadvantage is that the CFS designation is not as well-known as the CFA, so it may not open as many doors in terms of job opportunities. ### Related Topics - [Sustainable 401(k) Plan](https://www.carboncollective.co/401k) - [Sustainable Investing](https://www.carboncollective.co/sustainable-investing/) - [Investing Basics](https://www.carboncollective.co/sustainable-investing/investing-basics) - [Retirement Glossary](https://www.carboncollective.co/sustainable-investing/retirement-planning-glossary) - [Best Retirement Plans](https://www.carboncollective.co/sustainable-investing/the-10-best-retirement-plans) - [Wealth Manager Vs Financial Advisor](https://www.carboncollective.co/sustainable-investing/wealth-manager-vs.-financial-advisor) ![Attend Our Next Webinar](https://www.carboncollectiveinvesting.com/hubfs/carbon-collective-green-investing-icon-webinar.12af7b6e.svg) ### Attend Our Next Webinar Join our next Sustainable Investing 101 webinar, get our favorite DIY options, and walk through how we build our portfolios. 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