Is this an apropriate path to becoming an IFA??

SavingisFun

Hello!

I graduated in the summer with a finance degree and really want to get into financial advice.

I'm studying for the CF1-5 exams and hopefully will have all 5 done by the end of January. I'm also doing the IFP's CFP fast-track course which is pretty hard but will have my final submission ready in a couple of weeks.

I don't have a relevent job at the moment but I'm working for an IFA practice on a voluntary ad-hoc basis.

My idea was to get CF1-5 passed ASAP before finding a full time job as it would slow my studying down.


Am i taking the right path (and quickest!) to becoming a financial advisor/IFA???

borders_dude

The quickest path is not always the best path to take.

Nick11_2

I recommend that you take your time, spend 2/3 years as a Paraplanner to learn the ropes then take the plunge once you have your Diploma (maybe even Chartered status).

If you rush into becoming an IFA there's a good chance you'll not be a good IFA, you might make some money, but it doesn't mean you'll be a good IFA.

By starting off as a Paraplanner you'll get an understanding of what constitutes good advice and what doesn't. It'll also show you how to look after your clients. I have over 3 years experience as a Paraplanner and will be looking to become an adviser in the next 1 - 2 years. I know what type of adviser I want to be and I feel confident in my knowledge.

So that's my advice, don't jump in just yet, get the exams required whilst Paraplanning.

Good luck!