New world, same mission: CFA UK at 70

CFA UK is celebrating its Platinum Jubilee. Today, 70 years ago, on 9 May 1955, our Society was formed. It’s first meetings were held in the then Pimm’s Restaurant on Threadneedle Street, a stone’s throw from the Bank of England. Now, only a brief walk upward to Old Broad Street, the Society continues the mission of those who came before us. 

A lot has changed since 1955. And a lot hasn’t, too. While our world has moved, our values have not. While we’ve evolved in what we offer you, we want to make you feel just as welcome. And, as we were 70 years ago, CFA UK is led by our members, for our members – a family of investment professionals, 12,000 strong and counting. 

OUR MISSION 

As it’s our birthday, we’ve been looking back at our archives. And in December 1969, our former member S.J. Titcomb wrote something that is as true today as it was then: 

“The British Society of Investment Analysts was a founder member of the European Federation of Financial Analysts’ Societies with the following aims –  

• To raise the standards of Investment Analysis 
• To improve the information given to investors, and perhaps more importantly 
• To unify methods of analysis internationally."

Today, our mission is much the same. In 2025, we set out to educate, connect and inspire the investment industry to build a sustainable future, doing our part to develop the core and ongoing competencies of investment professionals, through the IMC qualification, Impact Investing Certificate, Professional Learning and our Communities. We’re also part of a unified group of investment professionals and societies around the world with whom we share best practice. 

Now, we achieve those same aims by: 

• Raising the standards of investors by growing their talent with industry-leading qualifications 
• Improving information by connecting investors to expert-led events and webinars 
• Inspiring our membership to invest sustainably to achieve positive outcomes 

These may be different focuses to what we had in 1955 – as the world has changed, we have with it. But the values we hold and the missions that matter to us are not. 

OUR PURPOSE 

This isn’t the first time we’ve written something about our history. At the end of our first decade, an article in CFA UK’s journal - ‘The Investment Analyst’ - described the 10 years that started our Society.  

From those first meetings, work began in earnest. Once the originally named Society of Investment Analysts received its Certificate of Incorporation in 1955, we found early office space through the Directors of the Whitehall Trust. This was until 1960 when, as the Society grew, we took a larger office on Godliman Street. 

It was also early on that the Society’s desire to advocate on behalf of investors was forged. A moment described in our Journal as “possibly the most important event in its early life” was being called to give evidence for the Jenkins Committee on Company Law in 1959. That invitation cemented CFA UK as a reputable body, and we continue to advise on what matters in our industry through our reports, whitepapers, responses and work on Ethical Standards. 

In fact, much of what underpins our Society was built then. Our first programmes of events were created, our first members joined us, and we began setting up our network of committees to allow those members to focus on their expert subjects. From the first year CFA UK took members until 1965, we grew from 150 to 750 members, all actively shaping our profession in its early days. 

Today, that purpose remains at the core of who we are. Built by our first members, CFA UK’s structure gives new members an opportunity to volunteer and engage in areas they are most interested in and can add value. 

Our Events programme has evolved beyond eminent speakers to also include networking evenings and pub meets, while our committees continue to be deeply involved in the development and delivery of many of our services to candidates and members. That means, more than ever, there’s somewhere within CFA UK where you are welcome. 

OUR JOURNEY 

In those early days, our Society's members travelled to conferences, often in the US, to improve their own knowledge and skills in investment analysis. In 1970, a group of the UK Society members travelled to New York for the 19th Annual Convention of Security Analysts. Their journey across the Atlantic was completed via Pan-American Boeing and B.O.A.C planes – you might want to ask your parents what those were – with the Boeing plane making an unheralded stop on route for more fuel!  

At that time, investors in the UK wanted to learn from American investors. In fact, it was because a group of UK analysts were concerned their competence in financial analysis was falling behind that of analysts in the US that the UK Society had been set up. Today, we still work closely with our American counterparts and with Societies around the in helping to set global standards on emerging investment sectors and technologies like AI. 

During our time in New York in 1970, our Society discussed some of the key issues of the time. There were sessions on how to avoid overvalued stocks, discussions about financial opportunities in water treatment, and a presentation by the Lockheed Corporation (now Lockheed Martin) about supersonic air travel – remarkably that’s already come and gone, thanks to Concorde. Our approach to those discussions remains true in 2025 – we're always looking to better understand market forces to help generate market returns. 

We also attended those conferences to better understand how our American colleagues worked at the time. Those conversations around corporate culture and communication between analysts and senior managers, though, are still reverberating today. As in 1970, our goal to raise the standards of the investment profession, through informing and educating our members, is more vital than ever. 

OUR PROFESSION 

Across our 70-year history, investment roles have evolved too. Our profession has changed, and we have sought to anticipate and reflect these changes through our activities . 

Back in 1969, S.J.Titcomb, one of the founders of the UK Society, wrote an article for the journal describing how an analyst looked at accounts. He deemed the information needs required of investment analysts to include: 

• Understanding the sources and uses of investment and financing for the business 
• Summary tables with key figures describing the performance of the business for the year and comparing to the year before 
• Comments of any changes in the Board or senior management since the last report 
• Principal products of the business and their uses, including information on orders 
• New products 
• Analysis of customers 

Today, the role of the investment analyst has expanded to include analysis of new sources of structured and unstructured data, new tools which simplify workflow, and even some new theories (free cash flow valuation only became popular in the 1970’s). We’ve played a crucial role in shaping what kind of profession investing would become in the UK.  

Today, we’re helping a new generation of investors join that profession, building successful careers based on a strong foundation of knowledge. We’re doing that with the most recognised qualification of its kind – the Investment Management Certificate (IMC). 

The IMC was founded in 1994 as the benchmark exam for investment managers. Now, thousands have begun their careers by taking it. Reflecting on being one of the first to sit it, David McMeekin, CFA said: “The IMC is the gateway into the world of fund management.” Meanwhile, another one of the first test group described waiting outside the exam room with “a pencil in my sweaty palms.” Back then, the IMC was hand-written! 

Now, like most things in investing, the IMC has evolved. It’s designed to give practitioners the core knowledge needed to succeed and get their career started. With annual updating of the syllabus now taking place, we are now on Edition 18 of the curriculum and continuing to educate the next generation of investors.  And, as sustainable investing has grown in significance, and investment practitioners have needed new skills, we’ve led the way in developing new curriculum and launching a range of new certificates. These include the Certificate in ESG Investing, Certificate in Climate & Investing and the Certificate in Impact Investing. 

OUR MEMBERS 

Everything we’ve done from 1955 to today, though, has been for our members.  

When our Society started, it was to help investment managers get recognition for their work and outlining their roles in finance. Today, our goal is the same – but the ways in which we help our members grow their talent have only grown. 

In the early days of the Society, we launched Professional Investor to give our members real insight into what was happening in the industry. Today, that has evolved into several new parts of CFA UK – from our new Sustainability and Technology & Innovation communities, built around investors who specialise in these fields, to the 200+ pieces of expert-led content on our Professional Learning platform. 

We’ve built new bridges for developing our members’ careers, too. Our mentorship programme continues to shine, with investors getting career advice and guidance from experienced senior members, while our new Member Stories puts the spotlight back on you. And, as it was when it was founded, CFA UK is still driven by the outstanding work of its volunteers who give up their time to help achieve our joint purpose. 

It’s all those things that, for 70 years, has allowed us to build our family. From our senior Fellows who’ve seen it all to our newest charterholders, every one of our 12,000 members is part of something greater – a legacy. From our first meeting in a restaurant in 1955, to our upcoming Investment Talent Conference in 2025, everyone has helped to tell CFA UK’s story – but now you can decide where it should go next. 

When describing the first ten years of our Society in 1965, we said that “the frequently quoted quip about marriage, ‘The first ten years are the worst’, certainly does not apply to the Society – from scratch to 750 in ten years is a rate of growth that not many semi-professional bodies could emulate.” Now, at 12,000 and counting, we say – the first 70 years are just the start.