I feel like we're talking past each other. I'm talking about a role where you develop strategies as either a researcher or a trader. Higher up the chain, sure, I can admit there's a utility to the CFA.
I think the main issue is that you need a solid grasp of the qualitative side of finance to build working quant models. Pms are responsible for quant model construction and they all get cfas because that is base level finance understanding.
Sort by who manages real money and who doesnt. Anyone managing $1bn or more all has it. That is not very much money to manage.