CeMAP Diploma

Jennyi71

I'm recently CeMAP qualified and work in a call centre role at a bank. Struggling to get a MA job. Is it worth doing the CeMAP Diploma? Also thinking of doing CeRER though I know banks don't dabble in equity release as of yet. Am I even better doing DipFA/Dip PFS and trying to get into financial advice?

All suggestions and opinions welcome.

Thanks,

J

koexelek

I think it is worth doing CeRER as it looks like being a big growth area.
I'd also say its easier to be a mortgage adviser / equity release adviser than a financial adviser.
People ask for and want to borrow ( it's just a question of whether you can place the business or not)
Pensions/Investments/Insurances tend to be subjects most people want to shy away from, and have to be sold .

David_White

If you're struggling to find a role in mortgages I would suggest signing up to Linkedin as that is swarming with recruiters offering up MA roles. A lot of them are self-employed roles or with Estate Agencies, but the opportunity is there.

If you're specifically looking for a role in mortgages I would be surprised if any employer was asking for a diploma so I would only do this if you particularly enjoy studying and having letters after your name.

Becoming a diploma qualified FA would be quite a large jump from where you are now albeit not impossible. Again, this will involve pretty intense studying compared to CeMAP.

ACG

What do you want to do?
There is no point doing a financial advice diploma if you do not want to be a financial advisor.
Likewise, if you do not want to do equity release there is no point doing that either.

As for the Diploma in Mortgage Advice, there was a discussion on here a while back. Myself and another broker (AMN I think) were of the opinion that if 2 people came to us, one with the "normal" exam and one with the higher diploma, that would not be a deciding factor. I would be quite impressed with someone sitting their exam on their own and passing it. It would make no difference if it was the minimum or the diploma.

If it is any help, I started out working for a banks call centre. If you have the exams and some financial services background you are a step further than most. Maybe see if you can move around within the bank to something more Mortgage related?

My job after the bank was to work for a life office as it was more related to Mortgages than credit cards (which is where I was in the bank). The life office also paid for me to do my exams.

Jennyi71

Thanks for all the replies! Very helpful!

I think I will do CeRER as it can't hurt to have another skill to my name and will open up roles in companies that want you to do both (I've seen solicitors looking for both skills). I'll probably leave the diploma to such times that I'm really struggling if things get desperate.

The line manager and the senior managers in my area and in Mortgages are aware that I'm qualified and eager however there's no roles available at the moment so I think I just need to be patient and keep looking elsewhere. Just always up against the "experience" obstacle.

Thanks guys,

J

amnblog

Hi Jenny

In my view, the qualifications are simply 'the uniform' the regulator makes you wear to do the role. 99% of us have a very plain 'uniform' and have never felt the need to upgrade to a smarter one.

The job is about managing yourself and others, strategic and lateral thinking, persistence, and attention to detail.

It is not for the easily dissuaded, nor for the easily frustrated. Does this sound like you?

If it does, experience is the key step so that you can be signed off as competent to advise. Plenty of roles out there but it may be a balancing act between your need to earn a steady income and your long term aims.

Mortgage_Adviser

Hi Jenny,

Try Countrywide.

They are normaly good in employing MA with no experience behind them.

Jennyi71

I have an interview with TSB shortly. I'm aware that this will be competency based, which is fine, however I've also been advised that there will be a role play element also. The hiring manager is aware of my experience so said this is a fact find and is more about showing my personality.

Does anyone have any insight or advice on what a mortgage adviser role play would look like?

Thanks again,

J

ACG

Every role play I have had, they give you a brief outline of a situation then come back to you after 5-10 minutes for you to make a recommendation. They usually reject the first recommendation but take the second and are looking for some sort of up sell.

The last one I did was I had to rpetend I worked in a call centre for a holiday company, they told me what they wanted (sun, beach etc) and I suggested maybe spain, they said no so I suggested Italy and they said yes, then I asked if they had holiday insurance and if they would like some quotes for their Euros - The job I was going for was an account manager at a Life office, but the role play was to do with holidays.