Providing New Insights into the Future of the Investment Profession
More Industry Future Content
Complexity Science, Uncertainty & the Future of Asset Management
In this extended deep dive, guest host Raymond Pang, Senior Researcher at CFA Institute, speaks with Greg Fisher, CFA, about how complexity science can offer a richer lens for understanding uncertainty, market behavior, and the limitations of traditional financial models.
A Comprehensive Guide to ETFs (2nd Edition)
This first of three modules of an updated CFA Institute Research Foundation guide explores the properties, benefits, mechanics, and history of exchange traded funds (ETFs). It describes the factors behind ETF’s exponential growth and evaluates the U.S. ETF landscape.
Clicks and Credibility: Understanding Finfluencers’ Role in Investment Decisions
Today’s digital-first world offers unprecedented access to information, but it also raises pressing questions about trust, accountability, and education. This report explores social media content by finfluencers and its impact on investors in India.
Policy in Action
PCAOB’s Standard, “A Firm's System of Quality Control and Other Amendments”
CFA comments on the SEC Filing of PCAOB’s Standard, “A Firm's System of Quality Control and Other Amendments”
Financial Promotions on Social Media (GC23/2)
CFA Institute and the CFA Society of the UK (CFA UK) respond jointly to the FCA’s consultation on financial promotion on social media (GC23/2).
The Audit Gender Gap: Has It Narrowed?
A 2018 CFA Institute study found that women rarely run the biggest audits at Big Four accounting firms. A new report examines updated data to determine whether the gap has changed and how much progress is still needed.
Be Informed
Understanding Markets Through Complexity and Human Behavior
Risk expert and author Richard Bookstaber joins guest host Genevieve Hayman, senior researcher at CFA Institute, to explore why traditional financial models often fail to capture the real dynamics of markets. Drawing from decades of experience — from hedge funds to the US Treasury — Bookstaber unpacks how human behavior, feedback loops, and network effects shape systemic risk and market crises. The conversation delves into how complexity science, agent-based modeling, and new AI tools can help investors build resilience and rethink how risk is managed.
Outperformed by AI: Time to Replace Your Analyst?
When advanced AI models beat seasoned analysts at their own game, the future of investment research comes into question. This piece explores how prompt engineering, model selection, and human-AI collaboration are redefining what it means to generate alpha. Michael Schopf, CFA, demonstrates why mastering these tools is fast becoming a professional imperative. AI won’t replace analysts—but those who fail to integrate it may find themselves replaced by those who do.
Conversations with Frank Fabozzi, CFA, Featuring Kenneth Blay
Whether you're an institutional investor, portfolio manager, advisor, or researcher, this conversation provides an essential perspective on how asset management is evolving — from the role of active management and the rise of customization to the practical applications of AI.
CFA Institute Research and Policy Center Delivers Insights on Investment Industry Transformation
CFA Institute Research and Policy Center is addressing the financial investment industry’s journey towards embracing demographic changes, behavioral considerations, evolving technology, and diversity, equity, and inclusion.
The theme Providing New Insights into the Future of the Profession focuses less on disruptions to the industry and more on changes from within the industry. It addresses the industry, its efforts to transform itself for the better, and its relationship to the broader investment ecosystem.
Our research explores the innovation required for investment organizations and investment professionals to be positioned for future success.