The boards of directors of the Investment Management Consultants Association (IMCA) and the Institute for Certified Investment Management Consultants (ICIMC) have endorsed a proposal to consolidate the two organizations, the groups announced on Wednesday.

An IMCA spokesperson says a mail vote by members of both organizations should be completed by November. The consolidation could take place as early as January 2002. The consolidation, if achieved, “will end the needless division” of the organizations, ICIMC President Jeffery Barefoot said in a statement.

Both groups offer designations and educational events for brokers and advisers who specialize in managed money.

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