IFA Employment

[KingRichard]

Any IFA's on here? yeah, I know... minimax!

I have just been told I can study for CeMAP via work, I have just recieved part one.

What sort of salary can I expect as a Mortgage Advisor? Any that I have asked seem to be very cagey and will not tell me much at all.

What about if I upgraded to CeFA?

Could I expect much more? I know once you have CeFA 3 you can set up shop, so to speak... has anyone done this?

I also plan to take a management course via OU, is this worthwhile with the other qualifications?

Any help appreciated... Ta

[thepeoplespal]

And in English this means?

Sorryz, TLA (Three Letter Acronyms) are my pet hate, especially when they are not explained, and while I know you are looking for experts in that field for advice, there may be some people who know the sort of people your looking information, but you are not giving them an opportunity to help you.

But it you get the sort of kickbacks, sorry commission that DBS financial (since takenover) used to pay their Independant Financial Advisors I'd say your on to a winner.

>> Edited by thepeoplespal on Wednesday 30th March 02:29

[minimax]

you have mail chap

[mcflurry]

How does one go about finding / starting this type of course?

I like the OTEs that they list in the adverts, and am fairly financially literate too

[Coco H]

I did some training and some exams and the salary was comparable to an accountants about 5 years ago.

[minimax]

mcflurry said:

How does one go about finding / starting this type of course? I like the OTEs that they list in the adverts, and am fairly financially literate too

see here for more information about qualifications to become an IFA. there are generally three types of advisor: tied (works for one bank), multitied (has a panel of lenders) or independent (has a large panel of lenders representative of the whole market and offers a choice of how they charge)

salaries for tied agents usually hit 22k - 35k, multitied hit 25k - 55k, and independent anywhere from 25k - 150k. of course, self employed you can make a great deal more than that as you keep most or all of the procuration fees/commission but usually your business volumes are not the same.

hth