Hi need advice from CeFA experts

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Annabelp,

I was also told the exact same thing, but I declined the offer because I felt they were a training company being crafty. Those modules cost £135 each and come with study material and one free exam entry. So taking the self study route is cheaper.

Secondly, and more importantly, companies are no longer looking for certificate level qualifications like cefa modules. They now want dipoma level qualifications. In fact all level three modules are no longer being rolled out by cii and are being replaced with diploma level quaifications that require no pre-requisites. My guess is, it wont be long until ifs also replaces their cefa modules with a new diploma level ones to meet the increased requirements under the RDR as set out by the FSA.

So no, I dont think paying a training provider who also have a hand in recruitment for cefa modules is going to increase your chances of getting a job. In other words it is a scam.

HappyBag

As an Ex-Recruitment Consultant, and spending the last 10 yrs in the Finance Industry dealing with Financial Advisers, Companies, Building Societies and IFA's .... PLEASE, PLEASE, PLEASE don't sign up for these sort of courses and companies without thoroughly checking them out first! I haven't read all of the posts, but for anyone studying for financial/mortgage exams, it is virtually impossible to do over I think one post mentioned 10 days. There are also CPD (Continued Personal Development) requirements which go over a period of time.

Think of the current state of the global economy..... The reason the world has got into this state is very much due to poor advice along with individual and corporate greed. So, do you really think that you could or would even be allowed to qualify within 2wks? That you would be knowledgeable enough, experienced enough, confident enough to EFFECTIVELY give people advice on their finances, affecting them keeping their home, family welfare, life and long term future into retirement? Even Stephen Hawkins would struggle a little!

Q - would you be happy and confident or allow your parents to act upon advice from someone with no industry exp, (often quite possibly lives at home with their parents, hence no exp of a mortgage and living costs) - But has done a 2wk course and holds a paper certificate?

If you said YES, how about the realisation that what the adviser suggests to them will most likely affect your future, any inheritance and/or Inheritance Tax Liabilities?

Yes Mr & Mrs Customer, invest all your money into this bond/investment plan and it will make you loads of money, growing your estate. And then.... when you die, you will be leaving your family something SO memorable in the form of a wonderful Inheritance Tax Bill. It will cause them to think about you lots, for they will have to take a hugely expensive Solicitors/bridging loan out to pay the bill BEFORE they can get their hands on the inheritance that you left them because they don't have a lot of money and you wanted to give them a break! But we know you are people of Queen & Country and don't mind them not getting as much as you intended, the tax man after all - does work hard with little appreciation!!! :rotfl:

Hopefully, this will put the 'wild claims' from any company offering a short-cut to financial qualifications into perspective!

Most Companies WILL sponsor/pay for you to study and become qualified. Just ensure that you have a professional CV but written in your own language and style (no spelling mistakes), enticing the Company to be interested in you to invite you for interview. Perform a good interview, showing passion and desire to become qualified and demonstrate that this is your chosen career choice. (May sound silly, but ask people around you to do a 'dummy' interview with you, get their feedback and act upon it. EVERY speaker/Trainer runs through a 'role play' prior to delivering their speech/training - and that's why they always seem so confident and word perfect. Throughout your training, you will also be required to do the same - so join the professionals early)!

As far as I can recollect and as long as the law has not been changed, I don't believe that you can charge for finding someone work (payable by the candidate). They can however charge the Employer a 'fee' for finding the suitable candidate, with a sliding scale rebate facility if the person doesn't work out within the first 3months/ or negotiate a lower fee with no rebate facility. (Feel free to correct this if it not still the case). But by offering this 'so called training', these sorts of companies have found a way around it. They may provide a course, but they can NOT provide a guarantee that they will find you employment.

What are the ONLY TRUE guarantees in life?

1) If you are alive, you breathe
2) All the time you work or buy anything -you will pay taxes
3) You will die one day!

Many courses are now available on-line, but you need to research BEFORE parting with any money, that firstly they are valid companies (can look up via 'Companies House' web site), second - that the 'qualification' you wish to obtain is industry recognised, accepted and not about to become obsolete. - Again you can check these through the CII. Third, be VERY cautious of their 'boasting feedback page'! I have come across many of these, written on same or consecutive dates with the very same writing style, grammar, punctuation and general use of words - indicating that they are all written by the same person.

You could request Employer details of a couple of Companies that they have successfully recruited for/provided services to - and check these out. They may not do this in case you may be a competitor in their own business, but if the relationship is solid enough with their contact at the Company, they shouldn't really have a problem. In my years of being a Consultant, my relationships were strong enough that my clients would phone me and tell me that someone had offered them a lower rate, but they wouldn't change to that agency because they valued the service and honesty they got from me - hence I never had a problem disclosing who my clients were (with their permission of course). Some companies now even show on their web page who does their recruitment with a link to the appropriate site.

Generally, if you go to the website of the Governing Body of your chosen industry, you will find all details, course syllabus, required elements, CPD, study materials etc. They may even show approved training companies. One post said that it was actually cheaper to go through CII directly. Compare all of the above to what any training company is offering. Check out any references they offer - not by phone (unless you look up the telephone no. yourself), ideally in writing (Post) as that will also validate the address.

ONE of the biggest things to bear in mind is that many co's like to have a 'rookie', so that they can train and mould you on the job, in their own company style without having to rid you of past habits from your previous employer or training!

Experience can be as important as qualifications - maybe not in the same field, but generally dealing with customers. MANY co's are currently seeking 'trainee' Financial, Mortgage and Customer advisers - approach your local banks, BS or insurance co's directly - turn up (with a CV), ask to speak with the Manager. If he/she is not there, ask when they will be, don't leave your CV - go back when they are there. It is important if possible that they see you rather than just a CV and a half hearted opinion of someone who is not really bothered! Don't forget, many have let go of, or not replaced staff over the last few years, if they see a good potential applicant directly and not have to pay advertising or agency fees - you stand a very good chance. Uncanny, but often people will turn up at, or just before the 'we're thinking of recruiting stage'! There is no competition for you as the job hasn't been advertised yet, you have shown initiative and confidence by approaching them directly, they don't eat into their budget with agency or advertising fees - and you get to study, become qualified at no cost to you * - everyone wins!!

* There is most likely be something in your contract that if you leave within a certain time (excl redundancy), you 'may' be asked to repay the/or part cost of your study/exams - this is pretty standard. Remember though, alongside your exams, you are also getting hands-on experience and may be qualified enough by then that this won't be an issue

There is one more thing that you need to be aware of. Adviser roles (in whatever capacity) these days require selling skills. Not like the banks years ago when you just go in, cash a cheque, have a 'nice' chat with the cashier and go. Everywhere we go these days, including supermarkets, they're trying to sell more to us, it is no different in this industry - you DO need to be a sales person!

I know that all this seems a lot to do - but if you value your hard earned £'s and don't want to be ripped off and even worse have no job because of it, sadly these days it is a necessity! I hope this helps, GOOD LUCK!

HappyBag

Just a further thought on this - for those of you who paid by credit card and it's over £100 - are you not covered and can be refunded by the credit card co? (Not up to date with this in terms of qualifying, but the details are on the MSE site somewhere)!