More than 14,500 people pass CFA Level III

Of the 27,468 candidates who sat for the Level III CFA exam in June 2015, 53% passed the third and final exam.

These 14,664 successful candidates will become CFA charterholders in early October, pending experience and membership requirements.

In Canada, a total of 10,651 candidates sat for the CFA exam this year, an increase of 5% from last year, with 5,608 taking the test in Toronto and 1,455 in Montreal.

Read: Incoming CFA chair: High fees, low credibility plague industry

Globally, of the 46,841 candidates who took the Level II exam, 46% were successful and of 51,134 candidates who took the Level I exam, the pass rate was 42%.

In total, 57,476 candidates passed Levels I, II, and III, with the overall pass rate for all three levels at 46%.

Less than one in five candidates who begin the program end up finishing, notes CFA Institute.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.