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Recently qualifed cemap - any advice please
Comments
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I am extremely good at self-hypnosis - I won't have any problems !0
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Regarding Compliance.
How often do the FSA do compliance checks?
Is it done once every three months/six months, or as and when they feel like it?
If I am working self-employed via a Company attached to a Mortgage Network will the Compliance visits be done at the Company Office, or at my home?0 -
Compliance visits take place every 3-4 years at network level. The frequency will depend very much on the previous visit and issues raised. Based on network data they may then decide to visit some firms. Remember the network submits data to the FSA annually and the network is taking on a number of the tasks the FSA would be doing. So, the FSA are more concerned with making sure the network is doing it's job and how it deals with various events.
There is a saying in compliance that you should never be the first and never be the last as they are typically the firms that will be targetted.
The FSA is not an ogre or unreasonable most of the time. They dont expect you to be perfect and they do work on a basis of common sense. However, they do tend to show their teeth when they feel a firm or individual is taking the p.
Just because you work from home, you should not rule out a visit from the FSA. However, providing your compliance data is sound, you will probably never get a visit from anyone other than your network compliance officer.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you for that information - it does all make sense!0
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I got my letter of confirmation this morning that my chosen Company have taken me on as a Mortgage Adviser! This is a Company working through a Network and I will be self-employed but with lots of support and guidance.
I had sent all the paperwork, etc, to them so that they could do the credit checks, references, etc.
They have put me on an induction course starting 30th April.
I have my CeMap 1 exam on 3rd May so I shall have to see what they want to do about that.
It is on a 70%/30% split to me.
At least that is now sorted, I know where I am headed!0 -
Brilliant - congratulations shameless!! I'm very pleased for you
Which network is your new company associated with? Pm it to me if you would rather.
MMI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Well done. Now it's time for you to enjoy the paperwork.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Thanks! 0 -
its not as bad as dunston says dont worry! only one rule where paperwork is concerned - record and keep EVERYTHING!I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I forget you mortgage advisers have it easy compared to investment class advisers.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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