Those who have done Cemap also financial advisers

I d pick a larger IFA. usually banks can only sell their own products

and i d look at FPC 1/2/3

FPC doesnt exist anymore its the CFA (or something) there are 6 exams i think now

Most banks have an IFA department but don't tend to shout about it for obvious reasons. Difficult to get into too - they prefer to take on experience.

I definately want to do my FPCs but basically can't afford to stay in current job much longer with lack of business so thought I'd just get my cemap finished and apply for trainee positions (basic is higher than current mortgage job).
Any recommendations for big IFAs in berks/hants area?
I know it's a really bad time for FS jobs!

Is it? christ, i really am an old fart

You said it Nick? actually i got my FPCs 10 years ago and it was only when i came to work here and the paraplanners were studying CFA that i found out?

to answer you question carrieg4now, its a nightmare in FS, this is the worst i have ever known it, but CFA is the way to go

Ok so it seems the exams are the same, its just called cfa?

I think I did my exams through ifs learning so the exams are listed there.

The financial planner here has FPCs but they are pretty old now afaik

Sorry its CFP [:I](certificate in Financial Planning) is still done through the CII

i have just started studying for my Diploma, which is the same as the old AFPC. The FSA are really gearing towards Whole of Market as the way forward so i would be looking at big IFAs who are willing to put you through the exams

Hmmm, that's what I figured. The housing market is far too volatile at the moment and to be frank I think I might get bored of it eventually (plus I hate working in estate agency with the rubbish hours!). IFA is definately more challenging and surely has greater earning potential. Problem is most of the jobs I have seen advertised are bank based at the moment.
Can you recommend any good recruitment agencies that specialise in FS?

Http://www.ifslearning.ac.uk/qualifications/courses/cefa.cfm

Hays and Reed tend to be the big ones.

estate agency is crap, i am sure its terrible now, but i earned fab money from it about 2 years ago so its fits and starts really

When you talk about IFAs does that cover firms who are whole of market but through a network? I'm easily confused by this jargon as people tell me there is no such think as true independence ?

There is such a thing as true independance. The issue lies with whether the IFA is willing to sell a product that has 0% commission! if not, then clearly they arent independant?

quote:Originally posted by jaz
When you talk about IFAs does that cover firms who are whole of market but through a network? I'm easily confused by this jargon as people tell me there is no such think as true independence ?

id="quote">

an IFA can be directly regulated by FSA. or they can choose an umbrella regulation firm.

theyre right - there is rarely such a thing as truly independent since many will choose products where they have a higher commission arrangement with a product provider. True independents charge hourly rates and rebate commissions, though this is getting more rare.

quote:Originally posted by NickJ

quote:Originally posted by jaz
When you talk about IFAs does that cover firms who are whole of market but through a network? I'm easily confused by this jargon as people tell me there is no such think as true independence ?

id="quote">

an IFA can be directly regulated by FSA. or they can choose an umbrella regulation firm.

theyre right - there is rarely such a thing as truly independent since many will choose products where they have a higher commission arrangement with a product provider. True independents charge hourly rates and rebate commissions, though this is getting more rare.id="red">

id="quote">

this is what we do Nick.

Do you work for yourself Claires?

NO

i am employed by an IFA

Oooh I don't think we ever charge a fee though we can.

quote:Originally posted by jaz
Oooh I don't think we ever charge a fee though we can.

id="quote">

why not?

I think what I'll do is get my cv geared up so literally as soon as I pass my CeMAPs I can send it off to all the big IFAs locally even if they're not advertising. Got to be worth a shot. Only thing is since jan my figs are not good, but before that they were growing every month and I exceeded my targets. I've been moved around so many offices and we're not allowed to call remortgages (have a dedicated REM consultant). Just hope I can find something now!

You need to be able to show league tables etc too so get all those printed off if you can, recruitment agencies love them, but only if you are in top quartile!

I sat down and did my aip- sign up ratio and life penetration the other day. 85% sign up rate in december- wooo hoooo! (back in the day when I thought I was going to make loads of money!). Can't access out league tables though.

Your life penetration is more important, also things like PHI and FIB etc.

What's FIB?

It's doubtful that you will get a bank based FA role without experience. HBOS will consider CeMAP qualified people for Part Qualified Financial Advisor roles but you MUST have exceptional sales acheievement for at least 12 months to be considered.

The other banks tend to prefer fully qualified advisors with full CAS.

You are probably better off looking at IFA's.

Family Income Benefit

yes also CAS status is an issue of you have only been selling mortgages

I've been in current role for a year but only actually selling since july really.
Don't know what to do for the best then!
I was in sales before this as well. My life/ Ip penetration is 67%. Is that ok do you think?
So what would you say is the way forwards for me? Don't want to keep changing jobs so ideally this move would be the last (in a very long time at least!).

I would wait till you have at least 12 months track record and start studying for CFPs. the exams are every 3 months i think

quote:Originally posted by claires

quote:Originally posted by jaz
Oooh I don't think we ever charge a fee though we can.

id="quote">

why not?

id="quote">

Ooops away on lunch there. We just get commission. Some other local firms charge fees but I'm not sure our clients would go for anything upfront and the commission basis seemst o work fine for us.

Fair enough.? are you independant?

No we work through an AR and network which I find works well - though I don't know any better different ?