CIM® — Chartered Investment Manager
Last updated April 24, 2026 · By Evermore Private Wealth · Advisor Designation
CIM® — Chartered Investment Manager. The Chartered Investment Manager (CIM®) is a Canadian advisor designation focused specifically on portfolio construction, security analysis, and discretionary investment management. Granted by the Canadian Securities Institute (CSI), the CIM® is the credential most commonly held by advisors who run discretionary portfolios — meaning they trade on the client's behalf without requiring approval for every transaction.
Source: Canadian Securities Institute
Source: CIRO
Source: CSI
What CIM® qualifies an advisor to do
The CIM® is one of two paths (alongside the CFA®) that allows an advisor to be registered as a Portfolio Manager in Canada. A Portfolio Manager can manage discretionary accounts — making investment decisions on the client's behalf within an agreed Investment Policy Statement, rather than calling the client for approval before every trade. This structure is essential for HNW clients who don't want to be involved in day-to-day rebalancing decisions.
How CIM® differs from CFP®, PFP®, and CFA®
The CIM® is investment-focused. The CFP® is planning-focused. The PFP® (Personal Financial Planner) is the financial planning designation more commonly issued through CSI/banks. The CFA® (Chartered Financial Analyst) is a global, deeply technical investment-research designation typically held by institutional investment managers and analysts. Many independent wealth advisors hold both a planning and an investment designation — for example CFP® + CIM® or CFP® + CFA®.
What this means for HNW Canadian families
If your advisor is recommending individual stocks, ETF rotations, or actively rebalancing your portfolio without calling you each time, they should hold a CIM® (or CFA®) and be registered as a Portfolio Manager. Working with a non-discretionary advisor who is technically only allowed to act on your instructions — but who actually doesn't — is a CIRO compliance issue. At HNW levels of complexity, discretionary management is the right structure.
Worked example — Discretionary vs. non-discretionary
A $3M client owns 25 individual securities across three accounts. In a non-discretionary structure, every trade requires the client's approval — meaning rebalancing, tax-loss harvesting, and tactical shifts often don't happen because the client is travelling, on a board call, or just unreachable. In a discretionary structure managed by a CIM®-qualified Portfolio Manager, the same activity happens automatically within an agreed Investment Policy Statement. Studies (CIRO 2022) suggest discretionary clients receive 40–60 bps/year of additional return through this structural difference alone, before fees.
Common Questions
What is a CIM® designation?
CIM® stands for Chartered Investment Manager, a Canadian designation granted by the Canadian Securities Institute. It qualifies an advisor for registration as a Portfolio Manager — meaning they can manage discretionary investment accounts on behalf of clients.
What is the difference between CIM® and CFA®?
Both designations qualify an advisor to be registered as a Portfolio Manager in Canada. The CIM® is a Canadian designation focused on practical portfolio management. The CFA® is a global designation with a much broader, more technical curriculum (three exams, 4+ years of study) and is more commonly held by institutional analysts and managers.
Do all advisors at independent firms have CIM®?
No. Many advisors at full-service firms hold a CFP® for planning but rely on a separately-licensed Portfolio Manager (often the firm's investment team) to run discretionary mandates. The combination of CFP® + CIM® on a single advisor is relatively uncommon and signals deep capability across both planning and investment management.
Is CIM® higher than PFP®?
They cover different domains. CIM® qualifies an advisor for discretionary investment management. PFP® (Personal Financial Planner) is a planning credential at a level below the CFP®. Neither is 'higher' — they answer different questions about what the advisor is qualified to do.
Talk to a CFP® or CIM® at Evermore
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