There is a value in obtaining both an MBA degree and Chartered Financial Analyst status, not least acquiring technical and managerial skills to move into senior investment management positions.
CFA and MBA can also help in setting up your own business.
CFA + MBA
Tom McGillycuddy and Matt Matham founded tickr, an investment app that helps people save towards their future by investing in the things they care about. In other words, the app helps empower people to make money and have a positive impact at the same time.
Tom is a CFA charter holder; Matt has an MBA degree from the...
Tom took all three levels of the immensely complex CFA exams. “I pursued the CFA as part of the graduate program I did at Barclays, and continued it whilst at Wellington Management [in the impact investment team],” he says.
“The CFA gives you a good breadth and depth of knowledge in all forms of financial analysis, from accounting to equity valuations. The qualification is set up to prepare people to become financial analysts, with a focus on equities for the majority.”
Matt says an MBA was the best route to understand more about business in a broad range of sectors, and to meet interesting people with similar ambitions. “Having worked in the real estate sector in the build-up to the financial crash, I wanted to broaden my knowledge in finance and business,” he says.
Check out: CFA Vs MBA? Here’s Why You Should Do Both
Complementary skills
The two entrepreneurs say that the MBA and CFA complement each other as they build their investment app business.
“Tom’s experience in impact investing, results in him taking the lead on the investment side of the business,” says Matt. “I have a broader experience and tend to be more operational—the MBA gave me a broader understanding of all aspects of running a business.”
Tom adds that, while an MBA can support budding entrepreneurs, the CFA isn’t designed to help you build and scale a startup, so he’s acquired those skills elsewhere. “The main thing I got from the CFA was the ability to have a decent understanding of all areas of financial analysis,” he says. “This then contributed to the career I had at Wellington, which was then a factor in starting tickr.”
The self-study nature of the CFA means it often takes over five years to achieve the qualification.
A few years ago Tom may have considered doing an MBA, “but now that wouldn't make sense at all, given that running a startup is a real-world MBA with no theory!” he says.
On the flip side, Matt has actually passed CFA level 1, but has “no real desire to complete [Levels] 2 and 3” since, he says, “startup life is all consuming and is a constant learning experience in itself.”
The pair have big ambitions for their business, and their qualifications may help them achieve their goals. These include getting millions of people impact investing as their default option; funnelling billions into impact investments through the app and the launch of their own exchange-traded funds; and provide financial and investment education to millions of users.
For Tom and Matt, MBA and CFA may turn out to be a match made in heaven.
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