The life after CeMAP...what next?

newrecruit

The life after CeMAP and CeFA is gloomy with many of the employers are not looking to recruit inexperienced trainees anymore. Countrywide was the best hope for many but they say they are not recruiting trainees without an experience for a while. Co-op bank is recruiting trainee financial advisers and could be the only option.
So what is the other viable option for those wishing to enter the industry?
I know that it is a bad time for mortgage advisers, but for those who have spend their cash doing CeMAP or CeFA, what options do we have?
Many guys in this forum was stung by Darnell International, which combines training with recruitment, promising job interviews after passing the exams. Darnell is clearly a scam, but I have found a surprising number of similar training providers.
New Leaf Distributions offers full training and support after CeMAP to get you up and running as an Appointed Representative. They also offer to get you Competent Adviser Status (CAS). Their website does seem watertight, but are they any good?
Another one similar to them is called Crystal Blend Training.
Has anyone had any experience with these? Their name sounds a bit New Age and dodgy, but do they deliver what they promise?
Their support and training is very expensive. They additionally train you in marketing and business development For a guy like me with strong business and sales background all these training seems unnecessary, but if they can sign my CAS off it seems worth it, if I am to get that job I am looking for, right?
Suppse anyone can set up these training companies and make great promises, and run off with the money...but are there any hope for any of us who took the plunge and took the CeMAP / CeFA?

TEDDYRUKSPIN

(1) Passing CeFA or CeMAP does not guarantee you a job.
(2) Trainee roles at this current time are frozen throughout the sector. However, some are available in the central london area, eg. canary wharf.
(3) CAS? Would not worry about that now! You don't even have the job. If you are recruited, expect 6 months to 12 months to be signed off.
(4) Never heard of new leaf distributions.
(5) Some companies are advertising on the internet to state that they will sign you off with CAS for a set amount, hence, fee. Stay away from them!
(6) Solution - find another job for the time being. It is probably the worse time to go into a bank without experience.
(7) I have been told that roles should slowly open around May 2010. This is only a rumour.

As a final note again, if you are desperate to become a financial adviser, I would suggest you to pass the exams and start in a lower position just to get sales / customer advice banking experience, eg. cashier, customer adviser. Once you see a FA or MA role internally, apply that way.

This is your own choice and your own career. No one can tell you what to do. If you are so confident and want to be a FA, no one can really stop you. Only time can.

kaya

my wife has had her cmap for a few years now, 8 years experience in the financial industry and being made redundant from her £35kpa job next week, the best offer so far with all her experience and cmap is £22k in the city from which you have to deduct 3-4k for travelling expenses, not a good sector to be seeking work in atm i'm afraid, yoyu could probably get more as a mcdonalds manager!!, good luck wioth your job seeking though, hope it all works out for you

TEDDYRUKSPIN

kaya wrote: »

my wife has had her cmap for a few years now, 8 years experience in the financial industry and being made redundant from her £35kpa job next week, the best offer so far with all her experience and cmap is £22k in the city from which you have to deduct 3-4k for travelling expenses, not a good sector to be seeking work in atm i'm afraid, yoyu could probably get more as a mcdonalds manager!!, good luck wioth your job seeking though, hope it all works out for you

McDonalds managers range from £16k to the true manager at £26k start.