How to become an IFA

[feed your head]

Firstly, I am new here, so hello!

I will graduate this year and would like to get into the financial services sector as an IFA. I know this isn't easy as naturally firms want to employ qualified and experienced individuals preferably with some clients who they can bring with them. I have none of these things so represent significant cost and risk. Great! So I am looking for advice on what people think might be my best strategy. I am currently studying for CF1 and my plan at the moment is to get this out of the way and then start writing speculative letters to firms of IFA's. What do people think to this plan? I would be very grateful for some insight into the industry and how I might best approach getting that first job.

Thanks v much!

Edited by feed your head on Thursday 25th February 00:40

[NoelWatson]

My friend joined St James Place without any previous IFA experience (although he was in software sales prior to thagt)

[GSP]

Have a look at the Santander Graduate Scheme.

They were looking for immediate start graduate financial advisors the other day.

[feed your head]

Santander grad scheme is for 'Personal Banking Advisor' - this seems to suggest selling unregulated products (ie: credit cards + loans) ?

Santander are looking for financial advisors but the minimum qualification is CF1, so once I have this I was planning on applying there.

Agree completely about blasting through as many exams as possible. Right now I'm just looking for that first role and to have a steady basic and exams paid for. Which firms are good places to start? To be honest the only I've managed to find that seem to take on the unqualified are Santander and co-op from the banks... hence why I was thinking speculative letters to the bigger IFA firms

[feed your head]

thanks for the tips with the places to apply. Do you think I should steer clear of Santander entirely then? Surely if they are paying for the exams and supplying customers that is still a good thing? If its such a bad company once I am sufficiently qualified I can move on?

Does anyone know how I can find out which are the biggest IFA firms in the country so I can write speculative applications to them?

Also why is it necessary to learn about the various scandals? I have a passing knowledge of these do you not think that is enough? Also I'm a bit confused as to why you think I should learn about how student loans work? And long term care insurance would be covered by the exam material anyway? I am already reading the industry websites you mentioned, I agree it is a good thing to have that general industry awareness. At the moment my main concern is getting that first job... What do you think about sending speculative applications?

Thanks!

[Chris_OCR]

Plenty of companies like taking on fresh grads so I doubt you will struggle too much.

[feed your head]

Chris_OCR said:

Plenty of companies like taking on fresh grads so I doubt you will struggle too much.

Which companies chris? So I can apply to them