CeMAP 1

agnieszkaponi

dunstonh wrote: »

oh dear. poor you. Toolbox suggests you are a personal touch member. Never mind. When you grow up you can join a real network (jk)

I do agree you have been a picked on a bit here but it does no harm to realise that you are joining a profession that has far too many people already, is losing numbers more than it is gaining at present due to market conditions, that typically loses half the people inside two years even in good times and a lot of the areas where people were earning good amounts have gone, probably for good.

Yes it is a Personal Touch. Why, what is wrong with this network?
I have to start from somewhere???!!!!!!

agnieszkaponi

TEDDYRUKSPIN wrote: »

I believe alot of people here are missing the point! The person only asked for study material! Ha.... Not an english lesson.

You should never discourage anyone to do what they believe is right! It would seem to some that at this moment of time entering the mortgage market is not right, but how do you know if this person will not making money?

Minimike has provided some good advice above! Why would you restrict you clientele base to just polish workers? Alot of them have now done the so called 'runner', and half of them now not returning.

Anyway, good luck! Ebay is your answer!

Minimike! It is now advised that people who are studying for Cemap should take and complete Cemap2 and Cemap 3 first and then Cemap1. Strange but true.

Yes thank you! I never asked for an english lesson I only asked for a help with my study.

I will not restrict myself just with polish workers.

Thank you very much I will check Ebay!!!!:)

agnieszkaponi

lcharm wrote: »

First useful comment on this board. Don't stress about what the other posts they just find it satisfying to knock people.

I'm on my CeMAP/CeFA 1 ATM. To be honest unless you do a course which is what I'm doing you will find it difficult although it is doable without. Just read the book cover to cover (Unit 2 is very badly laid out) and Ebay has some sample papers and study guides. (IFS charge a £17 for sample papers) but you need to do as many mocks as possible as it give you an idea of the spread of questions. (I failed last week and I'm doing my resit this week)

In answer to other peoples comments people still need mortgages and expecially remortgages which is where the market is during this downturn. PLUS due to poor mortgage advice, people end up with mortgages without getting protection so there is a big market out there to sell protection too.

Yes I totally agree with you, the world doesn’t stop because of downturn in the market. There are still opportunities out there to sell financial services.

Sorry about your exam.

Thank you for encouraging me............:j

agnieszkaponi

dunstonh wrote: »

oh dear. poor you. Toolbox suggests you are a personal touch member. Never mind. When you grow up you can join a real network (jk)



Which network would you recommend?

dunstonh

agnieszkaponi wrote: »

Yes it is a Personal Touch. Why, what is wrong with this network?
I have to start from somewhere???!!!!!!

PT are not a bad mortgage network but they are quite a poor quality IFA network. They are cheap but then as is often the case you get what you pay for.

I have two IFAs with PT that have to introduce business to me because PT wont allow them to do it. I also act as consultant to that IFA firm in providing research and compliance information as PT offers none. This includes guidence on suitability reports etc. So, I get to see a lot of their feedback on client file checks and issues they have with PT.

The main issues are:
1 - PT Compliance is awful. Low knowledge staff doing client file checks giving incorrect and obsolete feedback. One case recently highlighted 25 errors in a client file. All 25 errors were overturned after it was pointed out that every one was correct and they were wrong. Things like claiming tax back on equity unit trusts was abolished in 1999 yet they were saying you still could, CAT standard ISAs dont exist yet they asked why it wasnt recommneded and they asked why a pension wasnt used for someone that was looking for capital growth to access in their 40s.
2 - PTs sample template letters for suitability reports contain incorrect information on the taxation of investment bonds and unit trusts.
3 - PTs commission is lower across the board than that which is possible with my network. (so lower charges, but lower commission). They dont seem to get enhanced products either. e.g. If I do a clerical medical plan, I get it at 0.15% cheaper annual management charge than normal retail. NU is another that doesnt get as good client pricing.
4 - Their client file checks are 100% of business and you have to upload it all onto their toolbox system rather than in your own independent system.
5 - You cannot use independent research tools like financial express, morningstar, truth etc. They only let you use synaptic.

There are more but that will give you an idea.

agnieszkaponi

dunstonh wrote: »

PT are not a bad mortgage network but they are quite a poor quality IFA network. They are cheap but then as is often the case you get what you pay for.

I have two IFAs with PT that have to introduce business to me because PT wont allow them to do it. I also act as consultant to that IFA firm in providing research and compliance information as PT offers none. This includes guidence on suitability reports etc. So, I get to see a lot of their feedback on client file checks and issues they have with PT.

The main issues are:
1 - PT Compliance is awful. Low knowledge staff doing client file checks giving incorrect and obsolete feedback. One case recently highlighted 25 errors in a client file. All 25 errors were overturned after it was pointed out that every one was correct and they were wrong. Things like claiming tax back on equity unit trusts was abolished in 1999 yet they were saying you still could, CAT standard ISAs dont exist yet they asked why it wasnt recommneded and they asked why a pension wasnt used for someone that was looking for capital growth to access in their 40s.
2 - PTs sample template letters for suitability reports contain incorrect information on the taxation of investment bonds and unit trusts.
3 - PTs commission is lower across the board than that which is possible with my network. (so lower charges, but lower commission). They dont seem to get enhanced products either. e.g. If I do a clerical medical plan, I get it at 0.15% cheaper annual management charge than normal retail. NU is another that doesnt get as good client pricing.
4 - Their client file checks are 100% of business and you have to upload it all onto their toolbox system rather than in your own independent system.
5 - You cannot use independent research tools like financial express, morningstar, truth etc. They only let you use synaptic.

There are more but that will give you an idea.

OK, Thank you.

How long have you been IFA?

Which network is it good in your opinion?

dunstonh

agnieszkaponi wrote: »

OK, Thank you.

How long have you been IFA?

IFA for 6 years. Tied FA for 9 years before that. Insurance broker for 3 years before that, bank clerk for 3 years before that. So, I go back a while overall but in differing roles. I took the slow and steady career approach rather than dive in at the deep end.

Which network is it good in your opinion?

You will find every network member has a different view on networks depending on what they are looking for. I wanted a network that let me get on with running my business, my way and using my own software providers etc but giving compliance support when needed. And I get that from my mine. I know people that would slag off the network I use.

Some want a sales force style network with league tables and everything given to them on a plate. I would personally hate that but some love it.

One thing that is very important is to try and get it right first time. You dont want to be switching networks if you can help it. Especially when you get years down the road and have trails and renewals coming in.

lcharm

dunstonh wrote: »

IFA for 6 years. Tied FA for 9 years before that. Insurance broker for 3 years before that, bank clerk for 3 years before that. So, I go back a while overall but in differing roles.

Cor blimey and you've not had a heart attack yet?

agnieszkaponi

dunstonh wrote: »

IFA for 6 years. Tied FA for 9 years before that. Insurance broker for 3 years before that, bank clerk for 3 years before that. So, I go back a while overall but in differing roles. I took the slow and steady career approach rather than dive in at the deep end.



So you have a lot of experience!!! Nice one!!!!
Big respect!:T




You will find every network member has a different view on networks depending on what they are looking for. I wanted a network that let me get on with running my business, my way and using my own software providers etc but giving compliance support when needed. And I get that from my mine. I know people that would slag off the network I use.

Some want a sales force style network with league tables and everything given to them on a plate. I would personally hate that but some love it.

One thing that is very important is to try and get it right first time. You dont want to be switching networks if you can help it. Especially when you get years down the road and have trails and renewals coming in.

oh I see, thanks

The company I work for use PT so I don't have much choice there.:cool:

himeshbhatt

Hi!

I am wanting to become a Business Manager for hsbc; I have noticed that on there website, They have made it clear that they only want people with Cefa.

This morning, I went into the hsbc branch and spoke to one of the business adviser and they told me that getting the Cefa's isnt that hard BUT every 6 Months, they all have to take exam's etc and if they fail then they may be sacked.

I don't think I would have problems with getting the Cefa's but in regards to doing the tests every 6 months, would I be expected to do it still if I have dyslexia?

Can someone help me plzzz!

Thanx