Financial Associated Jobs

Looking for some advice from anyone in this business.

I am reading that there are some 6,500 CeMAP advisors short in the UK in a growing market. Whilst I can understand the reluctance of people to go straight into this as a yoof etc I would have expected it to be a pretty lucrative offer for ex forces with a pension back up.

Plus although the offers of 50K are obviously aimed at recruiting opposed to realistic expectations, some have basic salaries of circa 25K and even the worst performer would have some bonuses to expect.

Is this an avenue to be considered or are there some hidden pitfalls that I am missing . . . ?

Any advice welcomed, thanks in advance
You are correct it is an attractive and lucrative option,
However the employer application is only half the battle,
Qualifying for the appointment within the FSA strict criteria (including examinations) are the key hurdle.

Anyone with a reasonable grip of their finances and of good character should qualify.

One method many organisations are currently using to get around this is to have one or two qualified individuals who "carry the can" so to speak, and a number of approved persons working for them (effectively as introducers). (i.e. lower pay all round)

The downside or upside (depending on your view point) It is a sales job, a fact which is quite often overlooked and as such no sales = basic salary which can be as low as 10grand (but on the upside, some companies do not cap earnings therefore you get paid exactly what you are worth)
I would seriously doubt industry is 6500 advisers short - house sales due to fall drastically this year which means fewer mortgages needed = less business for advisers.

That said one of the good things is you can study for your qualifications on your own and get yourself qualified before going for a job.

Take a look at IFS Learning who run the CeMAP exams.

Its also worth having a look at CII who offer a similar qualification, the Certificate in Mortgage Practice - in addition they also do qualifications which would allow you to sell life insurance and also give general financial advice.
Thanks guys.

I have been looking at some home study courses that offer the option of support and exams within 12 months, or a 10 day cramming course to get the qual and then look for the jobs.

With the downturn of the housing market I would have thought there was the prospect of more people looking for different arrangements and probably changing their mortgage providers, thus more customers . . . ?

I guess the investment of circa 1.5K in total and then a couple of months trying to see if its what I want/provides what is advertised is a risk and that is what I have to judge.
Whatever you do DO NOT pay £1500 to a company offering courses.

You will see in most papers now companies offering courses in anything from plastering to joinery and also now mortgage advice and life insurance, f*** I even saw onw today looking £275 quid for a chauffeur course in a weekend ( but hey you get a certificate at the end!!)

It is in their best interests to create the 'need' - eg PLUMBERS NEEDED NOW!!! EARN UP TO 750pw AS A PROOF READER!!! - most of this is complete guff. They make their money from people paying for training and don't give a hoot if you get a job or not.

If you looked at the CII site - you can buy the coursebooks and study in your own time - then you pay to take the exam when you are ready. To be fully qualified would cost you no more than £400 ( if you pass the exams first time round ),

Have a long hard think before you shell out your hard earned and if you want any more info PM me.


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