Training to be a financial adviser

Toooldforthis

I'm looking to study for a career change... I have OU Maths qualifications and am looking at becoming a financial adviser or debt advisors. .. had a look at the websites but tbh where do I start ??? Any advice please ??

opinions4u

What are your income expectations?

ACG

Dont do it?

I have no idea about Debt advisors - my general opinions of them are not that great. I get the impression they just everyone on a DMP or IVA and earn a cut of it rather than looking at the actual problem and trying to fix it without the need for an IVA.

With regards to financial advisors, the qualifications have just gone up to degree level - you would either need to pass RO Exams with the CII or some other exams with the IFS. It will take a good 2 years plus to pass them all and i do know financial advisors who have failed some of the exams - i would suggest if you want to go down that route to try getting a job within a firm as an administrator to atleast learn about the products etc.

Senior_Paper_Monitor

Two totally different options ...

Financial Adviser - as ACG says, a couple years of study plus some tough times trying to get a job (as inexperienced) and low earnings, usually on a self employed (don't sell - don't eat) basis. Long hours and considerable pressure (in particular on the regulatory front).

Debt Adviser - an afternoon's training at the bottom of the market and a week at the top (possibly with a week's supervision) and not a nice place to be if you have any scruples.

My office is looking to recruit a researcher/planner with options to train at various levels (general insurance, mortgage advice and possibly through to IFA eventually) so I had a quick look at your profile to see if you might be local and suitable.

Probably unfair to make such judgements on the limited information there, but I get a feeling that neither lifestyle would suit you.

Toooldforthis

Thanks everyone for replies. ... with regards to debt counselling it would be more about people managing their money than putting people on plans.... oh well back to the drawing board

Senior_Paper_Monitor

.... and therein lies the problem, a few years ago we seriously looked at embedding that facility within our business - but how does it pay for itself ?

Even now, with a business that has quadrupled in size and profitability we can see no way to do the job that needs doing in this area - so have to leave it to the free/well-meaning/generally unqualified and limited capability services or the vultures.