gogochurigeorge
I passed GMAT exam last year and got 720. I could do better (in official prep tests I got 720,720,740,740) but was short on time . I am aiming at top Schools (top 50) and scholarships and want to know whether I should retake or I should devote my energy to some professional development (CFA for example). My target is MBA or Master in Finance
As you mentioned, with a better time management you can get a better score. If you are aiming for a top 50 school, then higher score always help, though a score of 720 can be considered a very good one.
Considering the profile build-up part, there are many ways to make value addition to your overall profile. With a proper clarity, like opting for Finance, always helps but when you are considering courses like CFA, you must also consider that timeline. 3 levels of CFA will take couple of years at least so it may not be an immediate inclusion to your profile.
Having said that, will suggest you to frame a proper timeline of when and how you want your goals to be processed, and decide as per that.