CF1-5 & FPC series

wontfallforit

dunstonh wrote: »

If you are going to study then you need to be aware that from this year, CF1-5 will no longer be sufficient. You will also need a level 4 qualification on top of that. That means 4 more exams to a higher standard than the CF1-5. They will just get you to trainee status now.

I thought this new requirement applies from 2012? I may be wrong. It doesn't matter too much to me, as I'm looking to get to at least (advanced)/diploma level. It's going to be an expensive lot, though :rotfl:

starrystarry

wontfallforit wrote: »

It's going to be an expensive lot, though :rotfl:

I can imagine. I was lucky as my employer paid for all of mine (gave me days off to study and paid me a bonus for each one I passed). I dread to think what it would have cost me if I'd funded it myself.

wontfallforit

starrystarry wrote: »

I can imagine. I was lucky as my employer paid for all of mine (gave me days off to study and paid me a bonus for each one I passed). I dread to think what it would have cost me if I'd funded it myself.

TBH I'd love for my employer to pay for me. I work for a bank, but they simply don't train their FAs, they require them to come armed with CFP as a minimum (plus CAS preferred). I'm looking to be a bit cheeky...I'm paying my own way through CFP, and hoping they'll sponsor me for my furthers, though the most important thing to me is that they let me gain CAS. I currently work closely with the FA team - though I'm obv. not authorised to give advice - so I'm hoping that my service and generalised experience will sway them into taking me on into such a position, and training me further (knowing that they do make exceptions, in one case training up a very large bunch of mere cashiers in order to extend their department on a national scale).

From what I've seen, Santander, Co-Op, Barclays and HSBC all train FAs either from scratch (HSBC), or with mere CFPs under their belt. Though, as usual, experienced advisers with CAS are preferred of course, and positions are also quite thin on the ground.

Failing that, I'd quite happily(!) pay my way through my quals, though gaining CAS - and a position at the end of it all - is likely to be my stumbling block.

starrystarry

If your job is allowing you to gain some experience with FAs while you do your exams, then ultimately this could be more useful to you than if your employer paid for you to get qualified.

You can pay your own way through the exams but you can't buy experience.

dunstonh

The 2012 requirement is for existing advisers that hold competent adviser status. For new advisers, they have to have it from 2010.

sharon1975

I am due to sit CF5 in April, and although I am reasonably happy with the tech knowledge from CF1-CF4 I am really worried about question 2 of CF5 paper. I don't give advice in my day to day role with a life assurance company.

I am attempting this exam as I already have CF1-4 and it seemed silly not to complete the qualification - but I am now beginning to regret ever entering for the exam.

I have the case study book and the CF5 file and CD rom, but dont seem to get anywhere near the model answers given by the CII - and now I'm really starting to panic!!!!!

Can anyone give me any tips on how to answer this part of question 2 as my confidence in portfolio production is disappearing fast!!!!!!!!!!!

SuperMum2010

sharon1975 wrote: »

I am due to sit CF5 in April, and although I am reasonably happy with the tech knowledge from CF1-CF4 I am really worried about question 2 of CF5 paper. I don't give advice in my day to day role with a life assurance company.

I am attempting this exam as I already have CF1-4 and it seemed silly not to complete the qualification - but I am now beginning to regret ever entering for the exam.

I have the case study book and the CF5 file and CD rom, but dont seem to get anywhere near the model answers given by the CII - and now I'm really starting to panic!!!!!

Can anyone give me any tips on how to answer this part of question 2 as my confidence in portfolio production is disappearing fast!!!!!!!!!!!

Sharon, Im sitting mine in April too! I have CF1-4 and CF6 also. I started proper study this week and must admit the manual is really hard going, simply because I read a bit, then get distracted by a topic and go and look it up on the internet (like Home Responsibilities Protection - never remember learning about that in CF1-4 yet suddenly feel I should be an expert!!).

I have looked at the 2008 case study available via the cii website, but it doesn't ask anything like the manual implies - I started the manual thinking "this is ok, I can do a fact find" and ploughing through pages of "the perfect fact find" and yet the 2008 sample exam doesn't even ask you to do that at all???? Am a bit bewildered.

My new strategy is to look at past exams and take a topic for each study session - like today it was state pensions and benefits - and just google and surf them (cant be bothered fishing out the old manuals for CF1-4 which weigh a tonne!!).

Any more info or help on which way to study would be very much appreciated by us all!!!
:undecided