Mortgage Adviser Trainee

magicarp

seems like a lot of doom and gloom out there in the world of mortgage advisors.one thing is that should you get a job you are going to get the valuable experience that is needed to move about in this field.Just can not understand how anyone goes to a company that charge such a fee.

magicarp

shameless-about-money wrote:

I have no idea about the bank issue - that is what I was told happens.

I am feeling in the dark right now. I just want a job!

do not get disheartened if the worst come to the worst you are gonna get your cemap if not take it yourself like i am intending and you will have something to barter with when looking for a trainee post.:beer:

dunstonh

Its not a lot of doom and gloom. Once you are established it can be very rewarding. However, its the business model of choice that is where the doom and gloom is. These companies, historically, account for most of the mis-sales and the working environment is hell unless you are sales managers pet (which means being top salesman).

magicarp

dunstonh wrote:

Its not a lot of doom and gloom. Once you are established it can be very rewarding. However, its the business model of choice that is where the doom and gloom is. These companies, historically, account for most of the mis-sales and the working environment is hell unless you are sales managers pet (which means being top salesman).

so basically in companies that charge a massive fee for advice you are conning the client and you are no more than a salesman where you are governed by sales figures and not the caring approach that the firm leads to believe.

AndyWallace

magicarp wrote:

you will have something to barter with when looking for a trainee post

Afraid not. The qualification itself is nothing without the experience.

Andy.

shameless-about-money

The Company that I want to work for have a long-established background in Financial Services and have run a Company with that for over 20 years.

They registered the Mortgage Company in November 2005.

They have both continually stressed the importance of compliance to the FSA. I have two professions that I ran simultaneously - both had to be regulation compliant so I don't have any problem with that either.

Both companies are paying professional training companies to do the CeMap 1, 2 and 3 over six weeks. Then another company are doing the sales training over a period of weeks. This sounds alright to me, but is it?

I found the records for the Company's first year of trading - it costs £18 - do you think it would be a good idea to buy it? What will that achieve?

dunstonh

so basically in companies that charge a massive fee for advice you are conning the client and you are no more than a salesman where you are governed by sales figures and not the caring approach that the firm leads to believe.

There are different business models in financial services and the one you are looking at there is the worst type. They dont give two hoots for the client. Its sales, sales, sales. It is the allied dunbar of mortgage advice. Its all about sales.

AndyWallace

I personally wouldn't hesitate in doing it.

Andy.

shameless-about-money

dunstonh wrote:

There are different business models in financial services and the one you are looking at there is the worst type. They dont give two hoots for the client. Its sales, sales, sales. It is the allied dunbar of mortgage advice. Its all about sales.

In the last interview I had it stressed to me about the FSA's role in the process - that the client must end up with the BEST product for them, not the cheapest or the most expensive, but the best to suit their needs at that time.

Neither have come across as being disinterested in the client at all.

The client only pays one fee for life. The first fee is the last charging fee to them - any future remortgages are totally free of charge. Magicarp is it the same with yours?

magicarp

shameless-about-money wrote:

The Company that I want to work for have a long-established background in Financial Services and have run a Company with that for over 20 years.

They registered the Mortgage Company in November 2005.

They have both continually stressed the importance of compliance to the FSA. I have two professions that I ran simultaneously - both had to be regulation compliant so I don't have any problem with that either.

Both companies are paying professional training companies to do the CeMap 1, 2 and 3 over six weeks. Then another company are doing the sales training over a period of weeks. This sounds alright to me, but is it?

I found the records for the Company's first year of trading - it costs £18 - do you think it would be a good idea to buy it? What will that achieve?

sounds as if me and you are looking at the same company