Cefa and or financial regulation

travelmonster

I work in the financial industry doing something completely different. (IT)

But I want to have a change. Already completed a cemap. What do you guys think of CEFA or and Cii Financial regulation level 4 qualifications ?

Are they worth having ? Or doing? The other thing is I will ofcourse need to gain the necessary experience. But I'm sure getting these certs out of the way first will open doors for me.

dunstonh

But I want to have a change. Already completed a cemap. What do you guys think of CEFA or and Cii Financial regulation level 4 qualifications ?

I have always used the CII route. All my staff use the CII route.

Are they worth having ? Or doing?

If you plan to be doing a role that requires them then there is little choice in the matter.

he other thing is I will ofcourse need to gain the necessary experience. But I'm sure getting these certs out of the way first will open doors for me.

Depends on which distribution channel you are looking to move into. Some train on the job (not so many nowadays). One of the most common routes is to do the mortgage side first once you have Cemap (or equivelant) and then learn whist doing the mortgage side.

bigadaj

travelmonster wrote: »

I work in the financial industry doing something completely different. (IT)

But I want to have a change. Already completed a cemap. What do you guys think of CEFA or and Cii Financial regulation level 4 qualifications ?

Are they worth having ? Or doing? The other thing is I will ofcourse need to gain the necessary experience. But I'm sure getting these certs out of the way first will open doors for me.

It's a difficult market to get into.

The number of advisers has been reducing and the banks have moved out of the market.

Like many jobs you will be dependent on generating your own workload in most circumstances, so you need clients early on, but it's difficult to get them without the experience and contacts.

travelmonster

dunstonh wrote: »

I have always used the CII route. All my staff use the CII route.



If you plan to be doing a role that requires them then there is little choice in the matter.


Depends on which distribution channel you are looking to move into. Some train on the job (not so many nowadays). One of the most common routes is to do the mortgage side first once you have Cemap (or equivelant) and then learn whist doing the mortgage side.

What certs have you obtained to become a financial advisor if you don't mind me asking ?

dunstonh

travelmonster wrote: »

What certs have you obtained to become a financial advisor if you don't mind me asking ?

I have been doing this a long time and many of the ones I have would not be available to you. In your case, if you went down the CII route, the you would do R01 to R06.

It is worth noting the comment made earlier. The advice industry is in decline. Over 200,000 25 years ago to 20,000 today. Numbers will continue to fall. The old natural career paths have gone. Over half of new advisers fail within 2 years. Most common reason is lack of clients. That said, there is a small resurgence of the tied sales agent. Somewhat ironic as salesforces have done the most damage over the years. However, it may open up new opportunities on the career path. We used to refer to it as doing time for the right to be something better later on. They teach you a lot as long as you do not become brainwashed.