A designation given by the American Institute of Certified Public Accountants to those who pass an exam and meet work experience requirements. |||For the most part, the accounting industry is self-regulated. The CPA is a designation meant to help ensure that professional standards for the industry are enforced. Other countries have certifications equivalent to the CPA. For example, in Canada, accountants similar to the CPA are called Chartered Accountants (CA).
The act of selling undesirable securities from the broker-dealer's account to client accounts. Stuffing allows broker-dealer firms to avoid taking losses on securities that are expected to decline in value. Instead, client accounts take the losses. Stuffing can also be used as a means to raise cash quickly when securities are relatively illiquid and difficult to sell in the market. While stuffing is widely regarded as unethical, it can be difficult to prove whether such transactions constitute fraud. Often, broker-dealers are given the power to buy and sell without client consent for "discretionary" accounts. Furthermore, the legal standard for broker-dealers buying securities for these accounts is "suitability," which can be broadly interpreted. Since discretionary accounts provide so much power to broker-dealers, many financial advisors suggest that customers insist on providing consent for all transactions in their accounts.
In a family of multi-class mutual funds, the class that has a constant load structure throughout the life of the fund. The class C fund usually has a higher management expense ratio because of its lower load fee when compared to other mutual funds with different load structures in the same family. Not all fund companies follow this class structure. However, it is the prominent method of distinction.
A stock index comprised of companies associated with actor David Hasselhoff. Investors might correlate the popularity of David with increased sales surrounding his related products. Firms involved with Hasselhoff endorsements, advertising, movies or productions are included in the index. Companies included in the index include General Electric, which is the parent company of NBC in which Hasselhoff stars on America's Got Talent. Firms in this index generally show consistant growth due to the "Don't Hassle the Hoff" Factor.
A designation by the Institute for Investment Management Consultants to associate members who pass an exam and meet financial services work-experience requirements. |||This designation is sometimes pronounced "sims."
A type of stock purchasing recommendation given by analysts for a stock that is expected to dramatically outperform the average market return and/or the return of comparable stocks in the same sector or industry. It is an analyst's emphatic endorsement of a stock. 'Strong buy' is the strongest recommendation that an analyst can give to purchase a stock. As with any type of analyst rating, the rating is only relevant until a material event occurs that results in the analyst changing his or her outlook regarding the company. A 'strong buy' means the analyst believes the stock's underlying company is or will soon be experiencing positive financial performance and/or favorable market conditions.
For load mutual funds, the dollar amount for the purchase of the fund's shares that qualifies the investor for a reduced sales charge (load). The purchase may either be made in a lump sum or by staggering payments within a prescribed period of time. The latter form of investment purchase in a fund must be documented by a letter of intent. For example, suppose that an investor plans to invest $95,000 in a front-end load mutual fund and faces a sales charge of 6.25%, or $6,125. If a breakpoint of $100,000 exists with a lower sales charge of 5.5%, the investor should be advised to invest an additional $5,000. If the investor can add another $5,000 to the investment, he or she would benefit from a lower breakpoint sales charge of $5,500, or a savings of $625 on this transaction.Mutual funds are required to give a description of these breakpoints and the eligibility requirements in the fund prospectus. By reaching or surpassing a breakpoint, an investor will face a lower sales charge and save money. Any investor purchase of fund shares that occurs just below a breakpoint is considered unethical and in violation of NASD rules.
CIMC's have completed extensive course work and passed NASD proctored examinations for Levels I and II of the Institute for Certified Investment Management Consultants' course. CIMCs must also meet the Institute's requirements concerning experience in consulting and managed accounts, and adhere to its Code of Ethics and continuing education requirements. |||Study includes topics such as asset allocation, modern portfolio management, portfolio performance measurement, and ethics.
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