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FINDING EMPLOYMENT AFTER PASSING CeMAP/CeRER/CeRGI/WILL WRITING,ESTATE PLANNING

Dear all...im sure i am not the only person is this situation.I gave up a career in HNW sales after many years to study full time with the view of entering the financial services world. I happened to see all the adverts by the many CeMAP/ Mortgage training colleges out there describing this wonderful
world of becomining a Mortgage Advisor then becoming self employed or working for a Broker,Bank,Building Society,and once you have CeMAP you can then study another course and obtain CeRER Equity Release which is an industry just waiting to explode...be one of the first to have this very rare qualification. Or if you want to show perspective employers just how committed you are you may want to study for DipMAP? The list is endless.
It takes Hundreds of hours studying,Hundreds maybe thousands of pounds to pass all the exams but what you are not told is the following.....i am not going to name the company i did my exams with or any other company because that just wouldnt be right however i feel in an Industry which is regulated has to be seen as transparent with fair and honest dealing students should be made awars of the pit falls of doing these courses and that this is only the tip of the iceberg.
For those who dont know....Once you have the 3 part CeMAP qualification you cannot go and sell mortgages,you need at least 6 months to a year before you gain CAS Competent Advisor Status...this is something that is either hidden or not mentioned by the training schools...not all of them but the ones i have encountered. This was all new to me ,what the hell is CAS status? No firms that i know of run courses to obtain this....you have to get this training on the job! There are hundreds of Mortgage jobs out there however the majority want past experience,a proven track record and CAS status. very few firms want to chance risking the time and expence to train someone. The only firms who you may get a look in the door are the large Hire and fire Estate Agents who after about 3 interviews Psychometric tests even though you have many professional qualifications may then take you on as a junior...They will send you on a three week course of hard sell methods and you will be expected to work from 8.30AM to sometimes 7.30/8.30 pm in order to reach your targets. You will not recieve any comission for about 6 months because you are training and the house buying process is a lengthy process to say the least. Two of the major Estate Agents i was interviewed by have been part of a TV and Newspaper report on the way their Mortgage Brokers conduct business (No Names)And they both have countless Negative feedback on the internet....Do i really want to be a part of that industry ? The answer is NO.
I would like to hear from any Mortgage Advisors that have worked or are working for Estate Agents...are they really all this Bad?
As far as the Equity Release qualification goes....i think you have more chance getting in to the magic Circle than getting a job in Equity Release....It seems you need years of Mortgage experience and many clients before you could have a stab at this side of the business...its also far more complicated than people would have you think.
Most E/R advisors are self employed.....To apply for a licence from the FCA to become self employed will cost you from £1500 yes £1500 to apply and pass their fit and propper test. If they turn you down you have lost your £1500! You then have PI insurance on top of that which will cost about £1000 PA depending on turn over to cover you in case of malpractice. This is something else none of the courses inform you of.
The chances of getting a licence from the FCA without any prior experience is very slim and you cant blame them really .

So please if anybody out there has any ideas how someone with the above qualifications can break into this profession i would be so pleased to hear from you.

Because im about to give up ,a total waste of time and money.



Thank you

Comments

  • redcard
    redcard Posts: 1,563 Forumite
    There's no secret. You find a job on a jobs website and send in your CV.

    It's common knowledge that these training schools are a waste of money.
    Hope over Fear. #VoteYes
  • zleo99
    zleo99 Posts: 1 Newbie
    Hi Hayman
    I would be interested to learn whether you have succeeded or given up. Hope it was the former.
    I thought Redcard's remark unhelpful.
  • PlutoinCapricorn
    PlutoinCapricorn Posts: 4,598
    First Anniversary Combo Breaker
    Forumite
    Redcard may have been blunt, and his statement is rather sweeping, but I think that on the whole he is right. There have been many cases of people who feel that they have wasted their money on unsuitable, unrecognised courses. For example, there is a recent thread about a company that trains people to be private investigators: we did investigations of our own and showed that they are best avoided.

    Before committing themselves, would-be anythings need to decide whether or not they meet the requirements for the job; then they need to decide which courses are the best bet; then they need to look at the job market for people with these qualifications.
    Who having known the diamond will concern himself with glass?

    Rudyard Kipling


  • agrinnall
    agrinnall Posts: 23,344
    First Post Combo Breaker
    Forumite
    And of course it's a 16 month old thread that the OP has never come back to or even logged on again, so the chances of getting an update are extremely remote.
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