Mark you may be ready sooner than you think. The hedge fund world is a unique niche within finance, and bringing 2-3 years of experience to the table would put you in the running if you can pull off a GMAT score like you are expecting. Schools will also respect the heck out of your having the CFA prior to b-school. In short, you are brining a lot to the table even by applying one year from now, so I would get involved in your community and seek out mentors at work who supervise you and would write good recos. Another thing to consider is your potential to simply kick butt in your current field with the CFA designation (note people put CFA on their business cards but not MBA degree!) In other words, you might consider just skipping the MBA and cranking out two years of hedge fund work instead. You might surprise yourself at how much farther along you would be in the long run. Hedge funds don't hire freshly minted MBAs. You have a great job in the fund of funds world and could stay in the HF space and do well. If you are bent on an MBA, you are well on your way, and I would seriously consider applying next year. Most high finance shops send their analyst off to b-school at the 2 year mark, so you will be in good company.
Thank you for the response, I truly appreciate it. My only hesitation in applying next year is the time aspect. I'm not sure if I will have enough of it to properly study for Level III and the GMAT (I plan on starting my Level III preparation in mid-September). That said, it is certainly something I will consider. I'm going to reach out to a networking contact (Wharton grad) that has a prominent role with Make-a-Wish and see if I can get in there as an unpaid volunteer. Thanks again!