What Is a Certified Wealth Strategist (CWS)?

A Certified Wealth Strategist (CWS) is a professional who has attained a higher level of education and training in financial planning. As the name suggests, they specialize in working with high net-worth clients—typically those who have at least $1 million in liquid assets. But the expertise of a Certified Wealth Strategist goes beyond just offering a client financial advice. If you choose to work with a financial advisor with the CWS designation, you’re also getting someone highly skilled at nurturing client relationships.

The Certified Wealth Strategist Credential

The CWS program, created by the Georgia-based Cannon Financial Institute, takes a three-pillar approach in pursuit of a successful advisory business: client interaction skills, business management and technical know-how. Its theory is that mastering these critical areas gives a financial advisor a solid foundation to successfully run their own wealth management practice.

A CWS takes a holistic approach that accounts for a client’s entire financial picture and current life situation to help them determine how to achieve their aspirations. And because high net-worth individuals tend to have other outside advisors, a CWS has the knowledge and communication skills to act as a client’s point person in most wealth-related matters.

Whereas other types of financial advisors tend to be transaction-oriented, wealth management strategists focus on client relationships. Put another way, they measure success against a client’s goals rather than against a market benchmark. In addition to addressing investment needs, a CWS can advise clients on insurance needs, liabilities, estate planning, executive compensation and business succession planning, among other related concerns.

Because a CWS is focused more on long-term strategy than short-term tactics, they tend to retain clients for longer, have more assets under management and earn more than other financial advisors, according to the Cannon Financial Institute.

CWS Certification Requirements

Clients meet with their wealth strategist.

To apply for the CWS designation, applicants must have three years of experience as a wealth manager and a four-year degree from an accredited school, or at least five years of experience in the financial services industryIn addition, applicants must agree to and sign the CWS Professional Ethics and Code of Conduct Standards, and complete a course.

Topics studied in the course include sales and practice management as well as technical wealth management issues, such as distributing charitable gifts and choosing trustees. An emphasis is placed on lessons designed to sharpen interpersonal skills and help advisors develop a blueprint for a wealth management business.

Each program participant must pass the CWS exam, which is online and proctored. From there, they must meet continuing education requirements of 30 hours every two years.

CWS holders are usually already working as professional financial advisors of some sort before they earn the designation, with a combination of other financial certifications or college degrees as well as years of experience.

The CWS designation is optional and doesn’t give any specific powers or privileges to its holders. It does, however, tend to go hand-in-hand with higher earnings, according to the Cannon Financial Institute.

Comparable Certifications

Cannon has been granting the CWS designation since 2007. During that time, it’s become a widely accepted designation among the financial advice community. That said, there are some other financial advisor certifications that overlap with the interests of a CWS.

Certified Financial Planner™ (CFP®)

CFP®s are required to follow a strict fiduciary code of ethics that requires them to always act in a client’s best interests. It is granted by the Certified Financial Planner Board of Standards. Applicants must complete a college-level program of study in personal financial planning and pass an exam, as well as have a bachelor’s degree and three years of related experience. The CFP® designation focuses less on business development and practice management than the CWS does.

Chartered Financial Analyst (CFA)

Administered by the CFA Institute, a CFA credential indicates that an advisor has an advanced understanding of investment analysis and portfolio management. Candidates must have a bachelor’s degree or equivalent and meet the professional conduct criteria to apply. The self-study courses comprise three levels, each with associated exams, and takes about four years to complete. Roughly 150,000 financial advisors around the world are certified CFAs. This is known as one of the toughest financial credentials to earn.

What Services Can a CWS Provide?

A Certified Wealth Strategist works with high-net-worth clients to connect their financial goals with practical strategies. Their training equips them to look beyond investments and consider the full scope of a client’s wealth. This often includes retirement planning, tax efficiency, estate strategies and insurance needs.

A CWS also serves as a coordinator. Many wealthy clients already work with attorneys, accountants and other professionals. A CWS can act as the point person who brings these people together, ensuring that their advice is consistent and in alignment with the client’s objectives. This coordination can reduce overlap, close gaps and make wealth management more efficient.

Business succession and executive compensation are additional areas where a CWS can add value. For clients who own companies or hold complex pay packages, a CWS can design strategies that protect assets and prepare for transitions. They can also build charitable giving plans or legacy strategies that tie financial success to personal values.

The focus of a CWS is long-term. Instead of measuring success against short-term market benchmarks, they align strategies with life goals. This approach can help clients preserve wealth, grow it over decades and pass it on according to their wishes.

Ultimately, by combining technical knowledge with relationship-building, a CWS offers both expertise and continuity in wealth management.

Bottom Line

A couple search for a wealth strategist to guide them.

Choosing to work with a Certified Wealth Strategist means partnering with a financial professional who has advanced training and expertise tailored for high-net-worth clients, typically those with $1 million or more in liquid assets. Beyond financial advice, a CWS brings a unique focus on relationship-building. This can help ensure that your financial strategy is not only sound but also personally aligned with your goals and needs.

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A CWS might be right for you if you hold at least $1 million in assets. They have extensive knowledge of wealth management practices. This includes investment and retirement planning. They also work exclusively with high net-worth clients, and have training in operating a sustainable advisory business.