Advise about a career in financial services.

buyaodanxin

My two cents on this.

I worked briefly for Brewin Dolphin as a trainee investment manager I did the first paper of the ISD before quitting.
Points I would raise are:
1. Its a very paperwork heavy role. Much depends on letter writing skills.
2. It is a job for people persons - you need to be credible (which I am) and extraverted (which I am not).
3. You will need to repay training costs if you leave - this amounts to thousands.
4. Many exams have multiple sittings depending on precisely which ones you sit you can buy (say) books from those doing the September sitting to sit in March. I found little advantage to doing the course over simply buying the books.
5. Money is still OK - guys I knew were doing quite well for a reasonably easy job (outside London). Others I heard of who were working in London were working very hard.
6. I wouldnt recommend self employment in the industry - due to litigation risk and the regulatory burden.

Kirit

Magpiecottage,

Thank you for your guidance. You've helped me create a clearer path to follow.

"Once you have done that you can study for investment exams as part of your continuing professional development."

With regard to the above I presume you are referring to the DipFA or the FPC

Kirit

what is ISD ?

buyaodanxin

IAD mistyped (Sorry)

holly_hobby

thanks for your msg, but not sure what you want me to add to the prev responses recd - but if you want to act as an IFA , then you will need to hold at least the Diploma in Financial Advice Level 4 (QCF4), obv this will follow on from you obtaining the Certificate in Fin Advice .

I would suggest initially looking for a trainee paraplanner role (through which you will learn from observation and recording, how to conduct client interviews, the evaluation, advice/sourcing/portfolio construction process, presentation technique and reporting/recording and regulation requirments) from which you could later progress upto full adviser basis. There are various roles offered on this basis, and your employer will support and fund initial exam sitting and perhaps 1 re-sit.

If you want to go the mge route, CeMAP (later going onto DipMAP for QCF4) and looking for a trainee adviser role (bank/B soc/estate agt) would be the way to go.


holly