CAREER PROGRESS
1. Entry Level: 1-3 Months
Previous related work experience preferred but not essential. As an ‘Entry Level Advisor’ you will work alongside experienced advisors thus allowing you the opportunity to understand the Financial Service Industry and specifically the role of an Independent Financial Advisor whilst completing the CeFA 1 examination.
You will also have the opportunity of working on a number of Role Play Clients so as to improve your understanding of the Advisory process. This will give you firsthand experience of Fact Finding and Designing Client Solutions. Once you have passed the first professional examination and course work designed to test your ability to apply your knowledge to given client scenarios you will graduate to the position of Trainee Independent Financial Advisor.
2. Trainee Independent Financial Advisor: 3-6 Months
As a Trainee Independent Financial Advisor you will be trained in a number of different disciplines including ‘Client Relationship Management’, developing a ‘Business Model’ with extensive bespoke business training as well as completing the Industry Professional qualifications to become a fully qualified Independent Financial Advisor able to advise clients on their financial needs using products and services from the ‘Whole of Market’.
Once qualified you will become Authorised by the Financial Services Authority and will be able to conduct the full Independent Financial Advisory cycle under the direct supervision of a qualified Independent Financial Advisor. This not only gives you the opportunity to work alongside an experienced advisor but also will allow you to start to build your own client portfolios and generate new business leading to increased income from fees and commission.
9 – 18 months Experience:
You will be expected to have completed all the additional Professional qualifications together with a 20 point Experience Program designed to demonstrate your ability to apply your knowledge in the ‘real world’ of giving Independent Financial Advice. With the successful completion of these two key programmes and a minimum of 9 months experience within the industry you will work towards being awarded ‘Competent Adviser Status’ (CAS) by the Network thereby achieving Industry recognition as a fully competent Independent Financial Adviser.
3. Independent Financial Advisor:
After achieving CAS you will become a true Independent Financial Advisor operating from the ‘Whole of Market’. Further development and help will be provided to assist you in your chosen career integrating both your knowledge and experience in the industry and further qualification requirements you will be required to take the Diploma for Financial Advises (Dip FA) or the Advanced Financial Planning Certificate (AFPC).
Additional units will need to be earned via the AFPC consisting of a range of specialist units depending on the adviser’s choice of long-term career prospect. The Diploma for Financial Advisers will be required for the achievement of a Senior Independent Financial Advisory position or a specific specialist area.
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