2016 – 2017
Letter from the chair
Dear Fellow CFA Society Boston member:
The past 12 months have been a productive period for our Society. Effective January 1, 2017, we changed our name to CFA Society Boston. This move strengthens our bond with 148 CFA societies around the world, and further aligns us with a rapidly growing global community of 148,000 investment professionals dedicated to best practice in the investment management industry. As part of this initiative, we also engaged in a branding campaign focused on the salience of the CFA charter and the benefits it confers to both practitioners and investors.
In a period of rapid technological change and permanent restructuring, we enhanced our job board to facilitate the matching process between job seekers and employers. Our Women in Investment Management Network (WIMN) also hosted a national conference on Alpha and Gender Diversity, and strengthened our local initiative in this important area. Our CFA Practice Exam continues to garner world-wide interest.
Professional development, education, practitioner-relevant programming, networking and community outreach are at the heart of what we do. Among other initiatives, we organized programs on Financial Literacy, Fintech, and Sustainable Investing. More than 1,000 professionals, the largest number in our history, attended the Annual Market Dinner featuring former Federal Reserve Chairman Ben Bernanke.
At the end of May, we offered our “China Inside and Outside” conference, which brought together experts on the world’s second largest economy and stock market from China and Boston. It is our hope that meetings like this can deepen the understanding of common problems and investment challenges, broaden our professional community, and enhance Boston’s positon as the leading center of investment knowledge and research in the world. These, and other initiatives, are described in greater detail below.
None of this would have been possible without the dedicated efforts of our volunteers, staff and Board members who have worked tirelessly to enhance member value and strengthen our profession and community. I would to thank them for their multiple contributions and commitment to “Putting Investors First” and to promoting the highest ethical and professional standards and financial and retirement security.
In an era of low expected nominal and real returns, the state of CFA Society Boston today is strong – professionally, financially, organizationally, intellectually – because of the cumulative efforts of previous Chairs, Boards, volunteers and staffs. It has been a pleasure to serve as Chair, and I know that our incoming Chair, Jeff Augustine, will bring renewed insight and energy to our organization.
George R. Hoguet, CFA
“CFA Society Boston is dedicated to promoting best practice in the investment industry, to raising ethical standards within the investment profession, and to putting investors first. We unite Boston's investment community and provide a forum for collaboration, education, and innovation. Please join me as I review the evolution of the Society over the past year.”
In 2016, the BSAS Board of Directors (The Board) agreed that changing our name to CFA Society Boston would be in the best interests of our membership. Aligning our brand with 148 CFA societies worldwide greatly increases our name recognition. To raise awareness, we executed a comprehensive branding campaign seen by 30,323,766 people in the New England market.
This past year, our 2017 branding campaign strengthened recognition of our brand and the CFA charterholder designation among our 5,700 members, the greater investment community, and the general investing public. The campaign’s core message demonstrated that CFA charterholders represent the finest in the industry. It also detailed why employers and investors should choose charterholders when hiring investment professionals.
The 2016-2017 membership year saw our largest event ever when over 1,000 investment professionals attended our Annual Market Dinner, featuring Dr. Ben S. Bernanke. To attract new audiences, we offered two Chinese Market-focused investing programs and launched our inaugural FinTech Conference. Our annual Sustainable Investing Seminar increased in attendance for the fourth year running. And from a volunteer perspective, our members championed the importance of diversity in business through our Women in Investment Management Network (WIMN) and touched the lives of countless investors ranging from high school students to retirees through Financial Literacy presentations.
Increase in Membership
|December 2016 Level I||1,380|
|June 2017 Level I||1,311|
|June 2017 Level II||1,274|
|June 2017 Level III||711|
CFA Society Boston is committed to enhancing the future of finance and places an emphasis on university and CFA candidate outreach. To prepare the next generation of finance professionals, students from 10 local universities compete on a global level in our annual Investment Research Challenge. We also host CFA designation information sessions, offer review classes to advance the charter, and make our Practice Exam available to nearly 3,000 candidates and 45 local CFA Institute societies worldwide.
Last fall, The Board and members of the staff held a Strategic Planning retreat to develop a 2017-2019 roadmap. Moving forward, Society efforts will directly connect to the following three main goals:
|Reserves and Other Income||$98,820||5%|
|Programs and Events||$292,230||16%|
|Education and Conferences||$60,000||3%|
|CFA Candidate Prep||$334,500||18%|
|CFA Institude Funding||$211,800||12%|
|Education and Conferences||$67,445||3%|
|CFA Candidate Prep||$81,900||4%|
|Programs and Events||$632,675||32%|
|Member Special Projects||$142,500||7%|
|Net Ordinary Income||($151,420)|
State Street Global Advisors
Breckinridge Capital Advisors
Chesham Investments, LLC
Chair, Education and Programs
Payden & Rygel
MFS Investment Management
Constitution Capital Partners
Immediate Past Chair
Beyond Borders Investment Strategies (BBIS)
Harvard Management Company
Managing Director, Learning and Operations
Director of Marketing and Communications
Membership and Administrative Coordinator
“It’s been a year of progress and growth, with changes that will affect the direction of the Society for years to come. Thank you for taking the time to review this evolution. We couldn’t have succeeded in these accomplishments without the dedication of my fellow board directors, our volunteers, staff, and most of all, our members. You have helped us carry out our mission and it’s been a pleasure to serve as the Chair of CFA Society Boston’s Board of Directors.”