Retraining

SJE89

I’ve recently had a bereavement and if it’s taught me anything it’s that life is for living. 

As such, the bereavement has put me in a good financial position. Meaning that my partner and I can now stop renting and are nearing completion on buying our first home. 

The experience I’ve had with our mortgage adviser has made me wonder if this is a career if quite like to move into. 

I’ve looked at training courses for it online and would be interested in starting. 

I’m currently earning in the region of £30k which is fairly modest so wondering if anyone knows roughly what kind of salary a mortgage advisor can expect to be getting and what the range would be as I need to be one something similar with scope for this to increase with time or perhaps use it to start my own business. 

Any advice/experience would be helpful. 

DullGreyGuy

https://www.prospects.ac.uk/job-profiles/mortgage-adviser or https://nationalcareers.service.gov.uk/job-profiles/mortgage-adviser

Income will naturally vary massively depending on the split between basic salary and commission... be an advisor in a bank and your probably on higher end of basic salary + perks of working for a bank but more limited commission. At the other extreme if you go it alone as your own boss then you are down to pure commission and so how good a business person you are. 

You say life is for living... so are you pursuing this as you think the money will be better or because you think the job would be more fun? If this would be fun why not other areas of sales?

SJE89

DullGreyGuy said:

You say life is for living... so are you pursuing this as you think the money will be better or because you think the job would be more fun? If this would be fun why not other areas of sales?

I enjoy working, what I meant was that I would like to be able to do it on my own terms and if I could create a viable business from it, it would become a business from which I could take a step back and fund lifestyle via director’s dividends and plan for early retirement. 

Marcon

SJE89 said:

DullGreyGuy said:

You say life is for living... so are you pursuing this as you think the money will be better or because you think the job would be more fun? If this would be fun why not other areas of sales?

I enjoy working, what I meant was that I would like to be able to do it on my own terms and if I could create a viable business from it, it would become a business from which I could take a step back and fund lifestyle via director’s dividends and plan for early retirement. 

Start by looking at advertisements in your local area and that'll give you an idea of what a trainee would earn. One of the most important factors if you're interested in starting your own business is where your clients will come from and how you'd attract them - so a solid work history, demonstrating high quality training and experience, will be essential if you are to stand any chance of developing a viable business.

TELLIT01

I think the OP may be getting a bit ahead of themself.  It's a huge leap from training to be a Financial Advisor to running your own company with employees doing the grunt work and 'the boss' being able to live off the dividends and effectively retire.  That growth is likely to take decades.

Ath_Wat

TELLIT01 said:

I think the OP may be getting a bit ahead of themself.  It's a huge leap from training to be a Financial Advisor to running your own company with employees doing the grunt work and 'the boss' being able to live off the dividends and effectively retire.  That growth is likely to take decades.

Especially as with this sort of business, if you have employees you need to be providing them with the customers.  Otherwise, what are you giving them?  Getting the business through the door is the key part and if your employees are doing this for themselves they will just go off as independents.

Marcon

Ath_Wat said:

TELLIT01 said:

I think the OP may be getting a bit ahead of themself.  It's a huge leap from training to be a Financial Advisor to running your own company with employees doing the grunt work and 'the boss' being able to live off the dividends and effectively retire.  That growth is likely to take decades.

Especially as with this sort of business, if you have employees you need to be providing them with the customers.  Otherwise, what are you giving them?  Getting the business through the door is the key part and if your employees are doing this for themselves they will just go off as independents.

Indeed; and doing the training online, as OP has suggested in their post, will do absolutely nothing to assist in that.