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  • FIRST POST
    • Broadex
    • By Broadex 21st Sep 16, 12:29 AM
    • 2Posts
    • 0Thanks
    Broadex
    How can i move into IFA (part-time/ home based)
    • #1
    • 21st Sep 16, 12:29 AM
    How can i move into IFA (part-time/ home based) 21st Sep 16 at 12:29 AM
    Sorry I’m new the forum so I may be posting this in the wrong category.
    I’m thinking of running an evening IFA business from home just to hone my skills or being employed part-time working home (currently living/working in Isle of Man). However I’m not sure how I can go about it and would be helpful if you can help with ideas.
    My background is in accountancy and I’m a Chartered accountant and also I’m knowledgeable in UK tax. My day to day job is mainly dealing with accounting and tax matters for companies with minimum financial advice to individuals/ retail.

    I’m passionate about investments and being an IFA. I have self-studied MSc in Finance, qualified as a Chartered Financial Analyst (CFA), and I passed the CISI diploma with Chartered Institute for Securities & Investment (ie Chartered Wealth Manager) – all done in the past 5 years with the desire to move into investment advisory /IFA business.
    Could someone please advise how I can work online supporting IFAs or perhaps get started with my own evening IFA business for a start?.
    Last edited by Broadex; 21-09-2016 at 9:15 PM. Reason: Posted in a hurry!
Page 1
    • Pincher
    • By Pincher 21st Sep 16, 1:35 PM
    • 5,606 Posts
    • 2,018 Thanks
    Pincher
    • #2
    • 21st Sep 16, 1:35 PM
    • #2
    • 21st Sep 16, 1:35 PM
    I知 thinking of running an evening IFA business from home just to horn my skills or being employed part-time working home (currently living/working in Isle of Man). However I知 not sure how I can go about it and would be helpful if you can help with ideas.
    My background is that I知 a Chartered accountant and I知 knowledgeable on UK tax. My day to day is mainly dealing with accounting and tax matters for companies with minimum financial advice to individuals/ retail.

    I知 passionate about investments and being an IFA. I have self-studied MSc in Finance, qualified as a Chartered Financial Analyst (CFA), and I passed the CISI diploma with Chartered Institute for Securities & Investment (ie Chartered Wealth Manager) all done in the past 5 years with the desire to move into investment advisory /IFA business.
    Could someone please advice how I can work online supporting IFAs or perhaps get started with my own evening IFA business for a start?.
    Originally posted by Broadex
    Are you a Nigerian prince?
    What happens if you push this button?
    • DrSyn
    • By DrSyn 21st Sep 16, 2:38 PM
    • 321 Posts
    • 134 Thanks
    DrSyn
    • #3
    • 21st Sep 16, 2:38 PM
    • #3
    • 21st Sep 16, 2:38 PM
    Does not exactly inspire confidence in the advice the person might provide either does it. Nigerian or otherwise.

    Is this post for real?

    Maybe dunston might like to comment. His are at least real!
    Last edited by DrSyn; 21-09-2016 at 8:40 PM.
    • badger09
    • By badger09 21st Sep 16, 4:30 PM
    • 4,089 Posts
    • 3,325 Thanks
    badger09
    • #4
    • 21st Sep 16, 4:30 PM
    • #4
    • 21st Sep 16, 4:30 PM
    In case a google search (other search engines are available) didn't cross your mind, try this for starters:


    https://nationalcareersservice.direct.gov.uk/advice/planning/jobprofiles/Pages/financialadviser.aspx

    http://www.moneywise.co.uk/forum/forum/general-moneywise-chat/how-to-become-financial-advisor
    • bigadaj
    • By bigadaj 21st Sep 16, 6:38 PM
    • 7,375 Posts
    • 4,419 Thanks
    bigadaj
    • #5
    • 21st Sep 16, 6:38 PM
    • #5
    • 21st Sep 16, 6:38 PM
    Well if you have the qualifications you presumably need to notify and be accepted by the regulator, get some PI cover and build up your business.

    As dunstonh has said before the advice market, certainly for smaller ifa businesses, is shrinking or more correctly not expanding with less demand from new customers.

    I don't think it's the sort of business you do as a hobby in the evenings anyway.
    • bigfreddiel
    • By bigfreddiel 21st Sep 16, 7:55 PM
    • 3,775 Posts
    • 1,719 Thanks
    bigfreddiel
    • #6
    • 21st Sep 16, 7:55 PM
    • #6
    • 21st Sep 16, 7:55 PM
    I thought the bit about "horning his skills" sounded a bit dodgy, but funny nevertheless.

    Come on dunstonh, let's have your take on this.

    And I'm not too sure if he is Nigerian, sounds a tad bit racist to me!

    Cheers fj
    • Pincher
    • By Pincher 21st Sep 16, 8:17 PM
    • 5,606 Posts
    • 2,018 Thanks
    Pincher
    • #7
    • 21st Sep 16, 8:17 PM
    • #7
    • 21st Sep 16, 8:17 PM
    I thought the bit about "horning his skills" sounded a bit dodgy, but funny nevertheless.

    Come on dunstonh, let's have your take on this.

    And I'm not too sure if he is Nigerian, sounds a tad bit racist to me!

    Cheers fj
    Originally posted by bigfreddiel
    So, you have never had an e-mail from a Nigerian needing your help to transfer 」20million out of his country. Your spam filter must be really good!
    What happens if you push this button?
    • Broadex
    • By Broadex 21st Sep 16, 9:15 PM
    • 2 Posts
    • 0 Thanks
    Broadex
    • #8
    • 21st Sep 16, 9:15 PM
    • #8
    • 21st Sep 16, 9:15 PM
    Sorry - posted this in a hurry. Anyway thanks for the advice.
    • eskbanker
    • By eskbanker 22nd Sep 16, 12:15 AM
    • 3,413 Posts
    • 3,026 Thanks
    eskbanker
    • #9
    • 22nd Sep 16, 12:15 AM
    • #9
    • 22nd Sep 16, 12:15 AM
    thanks for the advice
    Originally posted by Broadex
    It may seem pedantic but in the strict financial services terminology that you'll need to get used to, advice is a regulated activity carried out by those qualified to do so and often involving money changing hands. The posts above may involve some woolier guidance in amongst more general banter, but no advice as such!
    • badger09
    • By badger09 22nd Sep 16, 12:50 PM
    • 4,089 Posts
    • 3,325 Thanks
    badger09
    So, you have never had an e-mail from a Nigerian needing your help to transfer 」20million out of his country. Your spam filter must be really good!
    Originally posted by Pincher
    I haven't. Now I'm feeling not only neglected, but also discriminated against


    It may seem pedantic but in the strict financial services terminology that you'll need to get used to, advice is a regulated activity carried out by those qualified to do so and often involving money changing hands. The posts above may involve some woolier guidance in amongst more general banter, but no advice as such!
    Originally posted by eskbanker
    Mine wasn't guidance - it was a suggestion
    Last edited by badger09; 22-09-2016 at 4:09 PM. Reason: spelling
    • EdGasket
    • By EdGasket 22nd Sep 16, 2:09 PM
    • 2,927 Posts
    • 1,165 Thanks
    EdGasket
    How are you going to attract customers? i.e. why would anyone pay you for your advice as you would have no track record and presumably, as you say part-time/evening, you'd be working as a self-employed and have no company name behind you either?
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