Financial Advisory Qualifications

Tekken

Hi guys,

My first post here though I have viewed the boards on and off for several years. I need some advice, and thought that was the best section to ask.

I currently work as a research scientist and have done for the past 7 years. However, recently I have become bored with the work, and I found my passion in my mid 20s which was finance - specifically investing related to stocks and bonds etc. My current work just doesn't satisfy my strong urge to i) run my own business and ii) have a direct contribution to other people's lives. I am a big believer in community participation, and science doesn't offer me that outlet.

My aim is to work as an independent financial adviser in the next 5-10 years helping people how to plan and use there money - my goal is also to branch out into the community and help with young people that need direction through volunteering.

What I need right now is to get myself qualified, there are a range of options out there, and as far as I understand it, some qualification are going to be discontinued in the near future. I have been informed that I need a CII qualification and potentially a PTS but as I understand it there are replacement qualifications coming which may make these irrelevant in the next 10 years?

Any advice much appreciated. And I can answer any further questions if required.

Thanks

ACF95

Appreciate this is an fairly old post, but would also appreciate more information on this as I am looking into a career along the same lines.

ACG

If you are looking to become a financial advisor you need a diploma in financial services. Their are 2 routes:
The CII
The IFS

If your looking to do the full diploma I would imagine its going to take you a good year or 2 in order to get fully qualified.

Once you have your diploma you then need to get CAS (competent advisor status) this is basically where someone higher up (usually a manager of business owner) checks your work and signs it off. Once you have passed so many you then get CAS and are free to go fully.

I found the exams fairly ok overall (RO1 was boring but it is needed - or an equivalent) but getting CAS was difficult although I was trying to get it for mortgages at the height of the recession.