How to become an Independent Financial Adviser (IFA) (UK)
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- Опубликовано: 5 фев 2025
- What do you need to do to become a fully qualified Independent Financial Adviser (IFA) in the UK? I've been asked this a lot recently so I thought I'd share my journey with you. It's a great career path and an industry that is really in need of some young blood so why not get stuck in!
#financialadviser #ifa #financialplanner
Who Am I?
I am a fully qualified Independent Financial Adviser on a mission to make financial advice more accessible to all. Working at Horlock Holdcroft Financial Consultants Ltd, I am qualified to advise in all areas of financial planning including pensions, savings, investments and protection.
My Credentials
Diploma in Regulated Financial Planning
Currently working towards becoming Chartered
Follow Me
Facebook: / yourifalouisefitzgerald
Twitter: / yourifa
Instagram: / your_ifa
Or get in contact through horlockholdcro...
If there are any other topics you would like to to talk about, please let me know in the comments.
DISCLAIMERS
The content of my videos is for information only and does not in any way constitute advice or a recommendation to act. If you wish to take action based on what you have seen in my videos then please seek independent financial advice first. The aim of these videos is to provide you with factual information only.
Investment carries risk and capital invested can go down as well as up - you may not get back the full capital invested.
Opinions are my own.
Horlock Holdcroft Financial Consultants Ltd is authorised and regulated by the Financial Conduct Authority.
Great Video Louise. This is exactly what I was looking for. Thank you for making this video....Keep going
Thanks Sandeep. And thanks for watching
I used to be a financial advisor in Hong Kong almost 10 years ago and completed my master in finance. Because of some health issue, I switched to become a private tutor that gave me more control over my schedule.
If you heard of the BNO visa scheme announced specifically for Hong Kongers that is going to kick in on 31st Jan 21, tens of thousands or even millions of Hong Kongers may choose to settle in the UK in the coming decades. So, I am researching about becoming a teacher and a financial planner in the UK to see which option is more viable for my situation. Hong Kongers are known to be quite well off and they might become a new market for financial planning in the UK.
I happened to stumble upon your channel in my my stop, thanks for the information, I will look more in depth into the path that you mentioned.
My pleasure. Thanks for watching.
Amazing video Louise, my goal is to become an IFA at a good firm. Thanks for the helpful information 👌🏻
Thanks for watching. Glad it was helpful
So fantastic to see how you got to where you are! So insightful thank you for this information.
Thanks so much!
Very interesting thanks for posting
Thanks for watching!
Awesome Video Louise. Thank you!
Thanks for watching!
I'm currently studying for the diploma and the CII have recently brought in remote exams meaning you can do the exam on any computer - so you could do it from your office or home (like I've done). Very convienent if you don't live near an exam centre and very easy to get a slot.
Yes, they've adapted to lockdown well, although there have been a few issues they have had to iron out
@@Louise.Fitzgerald_IFA yup, luckily I've had no issues - think I was fortunate to do my first one a few months after so it was relatively smooth sailing
Congratulations Luose, for the quality of the videos, for the content and for your teaching. I didn't expect to find a channel like this, it was exactly what I was looking for.
I worked as a financial adviser in Brazil and wanted to know a little more about the area here in UK
Thanks for watching David. Please let me know if there are any other areas you think would be beneficial for me to cover.
So just to make sure you completed all the exams from RO1-RO6?Found the video extremely helpful so thank you!
I most certainly did. Thanks for watching!
Great info! Was wondering if there was any chance you could make a video on real life scenario for an IFA, for example when you have your initial meeting with a potential client and all the processes after, and indeed, the money process :D
Thanks!
Thanks for watching, and for the suggestion.
Hi , Great channel,topic and congratulations for starting family😮. May i recommend to you a digital token, XRP token. .
Thank you.
Firstly, THANK YOU for your time and efforts to help others ☺️
I’ve just become a member with CII. I’m deciding on what package to go for to order the R01 textbook. Any advice on which package to go for? Eg. Just the book for £84 or the full package with revision mate etc at £300…
Thank you again 😁
Thanks for watching and for the feedback. I just used the text book and Revisionmate along with the past papers from the CII website that are free. I hope that helps.
Thank you for this helpful overview. I've been doing some research into the differences between CII vs LIBF diplomas in FA, and - if I understand correctly from various sources - it seems that CII is far more technical (maths focused), takes longer to complete, is more expensive but is more sought after by firms looking to employ you. Is this true? Did you consider LIBF when you were deciding which provider to go with? I am concerned that I am not that good with maths (I have a medical doctor background + recruting experience) and I'm not sure I would be able to handle CII... Your thoughts would be much appreciated.
I used the CII as that was the preferred route by my firm. I'm afraid I can't comment on comparing to LIBF. Sorry.
Thanks for this video - I'm employed full time for a financial broker and, although I work in Marketing, I developed an interest in this sector and I' considering becoming an IFA as a potential side job and future back-up plan.
The first dilemma is which qualification provider to choose: I note there are 4 main ones that keep recurring:
CISI
CII
LIBF
CBI
What is your experience on how to choose one? Is it true that the CISI and CII are the most widely recognised?
You're absolutely right, it's great to see someone in financial services considering a move to become an IFA! Having a marketing background in a financial brokerage is a strong foundation, and the transferable skills will be valuable. Now, let's break down those qualification providers:
The Four Main Providers:
CISI (Chartered Institute for Securities & Investment): Renowned for its focus on investment advice and wealth management.
CII (Chartered Insurance Institute): Known for its expertise in insurance broking and risk management.
LIBF (London Institute of Banking & Finance): Offers a broad range of qualifications in various financial sectors.
CBI (Chartered Banker Institute): Specialises in qualifications for the banking sector.
While CISI and CII are widely recognized, the best provider depends on your specific area of interest within financial advice:
* Investment focus: CISI might be the most relevant choice due to its emphasis on investment products.
* Insurance focus: CII would be a strong fit if you're more interested in providing insurance advice. Though this is the qualification I did and I offer advice in investments, pensions and insurance.
* Broader approach: LIBF could be an option if you want a wider range of qualifications across financial services.
Additional Considerations:
* Recognition: CISI and CII are widely recognized, but all four providers are reputable.
* Course Delivery: Consider how you prefer to learn - online, classroom, or blended format. Each provider offers different options.
* Cost: Compare the costs of the qualifications and any additional fees.
Many financial firms have partnerships with specific providers, so it might be worth checking with your employer to see if they have a preferred provider or offer any financial support for your qualification.
By following these steps and considering your area of interest, you can choose the qualification provider that best suits your path to becoming an IFA.
I hope that helps!
Great video! Very happy to have discovered this channel - I especially value the emphasis you place on young people
Can you recommend any courses to undertake before going for the diploma?
Ideally one that would contribute towards a diploma, but is shorter, generalist and less expensive - almost like a taster course, to see if you’ve got what it takes before committing fully :)
Hi James. Thanks for watching. I dove straight into the diploma but there are certificates and other qualifications you can do beforehand that do count towards your diploma should you decide to proceed further with qualifications. You can find details of all the qualifications on the CII / PFS website. It all really depends on what area you want to start in. I hope that's helpful!
Did you choose one James? Wondering how you felt about it.
Hi Louise, thanks for the quality content you're putting out. I understand there is no difference in terms of the qualification from both the Chartered Insurance Institute and The London Institute of Banking & Finance when completing a diploma to become an IFA. But is there a 'difference' within the industry itself? The Cii route is much more expensive for the same qualification. Do you happen to know if that difference in price reflects a much higher standard of training or information from Cii when compared with the course from LIBF? Cheers, Alan.
Hi Alan. Thanks for watching. Essentially, both qualifications lead to being an IFA on successful completion, just with different letters after your name. The key difference is the way the qualifications are completed. Each one has a very different route in terms of modules and exam styles, so really it comes down to which one you prefer.
@@Louise.Fitzgerald_IFA Thanks Louise. Did you get the additional revision aids or just the study text? If you did get the additional revision aids, were they worth it? Cheers
Revisionmate is included for no extra cost
@@Louise.Fitzgerald_IFA that's correct. But you can include the enrolment plus which has audio revision, key facts guides, E learn and knowledge checker package (costs just over £70 extra). I just wandered if you used those too?
Personally I just used the study texts and revisionmate.
Hi Louise, really interesting video!
I've been struggling to get my foot in the door at any kind of financial planning firm as an administrator and am considering just paying for the CII course myself and undertaking my studies off my own back, would you consider this a feasible option to get myself into a financial planning firm or would you advise I go about it another way?
I'd greatly appreciate any advice you have to offer!
Hi Guy. Thanks for watching. That's absolutely a feasible course of action. I think you will be a more attractive potential employee to some firms with even a partial qualification so it's certainly doable.
@@Louise.Fitzgerald_IFA Thanks a lot for your swift response! I think that's what I'll commit to then. Good luck on your RUclips journey and thanks again!
An alternative route that I used was to learn the ropes of investment, finance, pensions, tax, etc (all the content in the diploma plus more), then start taking on local SME clients as an unqualified IFA (I was very very clear with them that I wasn't qualified, but they were happy that I was making them good money). I quickly saved enough to afford the diploma and I'm now part way through. You obviously have to be good at networking, make it clear you are not qualified, plus prove to them that you are making good money from investing and other financial skills. I also ran a finance blog for several years and had non-IFA finance roles (accounting, payroll, etc), which contributed towards it.
@@LDT7Y this something I'd like to do as have qualification from nother country, so all the steps, methodology and even spreadsheets, etc. I have been in the UK for 20 years working in finance related roles such management accounting, finance analyst, FP&A.
I thought FCA would not allow any sort of servixe like you described so looking into qualification but want to offer my services with disclaimers whilst retraining. Thinking of DipFa as I hear it is quicker but heart wants DipPFS. I don't intend to work in a firm but to be IFA and surpervised until CAS.
Could you please explain whether clients are typically owned by the financial advisor, or the company they work for? Would an advisor need to start from scratch if they moved company, or could they take their clients with them? Thanks in advance.
@@beanykey it depends on the company they work for. At my previous firm, clients belonged to the company but at my current firm they belong to the adviser
Thanks Louise. So would it be fair to say that you would advise only seeking employment with companies who allow the advisor to keep their clients? Did you have to start over again when you moved firm?
@beanykey it really depends on the contract you have. I was technically out of contract when I moved firms and some clients did move over with me. But it's a very grey area in the industry and many people say clauses like this in contracts are unenforceable.
Hi Louise, great video! I'm applying for a firm, which is offering a diploma in financial planning. Could you tell me the difference between this and the regulated financial planning version? I've seen a lot more firms offer the latter
The diploma in regulated financial planning is for people who have no prior units, credits or qualifications that count towards the level 4 diploma. The diploma in financial planning is for people who already have some units or credits that can be counted and essentially need to gap fill to complete the level 4 diploma
@@Louise.Fitzgerald_IFA Thanks so much!
Thank you for this video, are there any prerequisites for the diploma? I want to become an IFA however many of the entry level positions require experience. I would be willing to pay for the course myself in order to get my foot in the door at a firm.
Hi Adam. No prerequisites at all. Anyone can do the Diploma. If you have no previous CII credits you'll need to do the Diploma in Regulated Financial Planning.
What is the salary ranges in becoming a financial advisor from administrator to IFA and all roles in between
It varies widely depending on who you work for.
@@Louise.Fitzgerald_IFA I know hence I asked ranges it doesn’t have to be exact figures I feel it would be quite insightful
The salary range for financial advisers and related roles vary widely based on experience, location, and the firm you're working for. A typical salary progression from entry-level positions like administrators to Independent Financial Advisors (IFA) is as follows:
1. Financial Administrator - £18,000 - £25,000 per year
2. Paraplanner (Junior) - £24,000 - £30,000 per year
3. Paraplanner (Senior) - £30,000 - £45,000 per year
4. Trainee Financial Adviser- £22,000 - £35,000 per year (may also include bonuses based on performance)
5. Financial Adviser - £35,000 - £60,000 per year (including bonuses)
6. Independent Financial Adviser (IFA) - £50,000 - £100,000+ per year (including bonuses and commissions)
7. Senior Independent Financial Adviser (IFA) - £75,000 - £150,000+ per year (can be even higher with a strong client base)
This is a rough guide and can vary based on geographic region (London salaries tend to be higher), firm size, and whether the role includes commission or bonus structures. As an IFA, you can potentially earn significantly more depending on the size of your client base and your business model (e.g., fee-based, commission, or a mix of both).
@@Louise.Fitzgerald_IFA thank you alot this was very informative
Hi Louise! Great insight. I've been approached over the years by firms recruiting FAs to join them, not thought about it much before till recently as I do want to have both financial security, the ability to help others, and some level of independence to clients I work for. FA seems to tick those boxes?
Am totally in a different sector altogether with no financial studies background.
May I ask what led/motivated you to going down this path if your profession was something completely different to now, and with a kid in the midst (moms have the toughest jobs!) what would you recommend to other women who may seriously consider a mid career switch, if this is the right move?
Thank you!
Thanks for watching. I actually had no experience in the industry until I took the position of financial services administrator at my current firm. Only by doing this did I learn what an IFA is and what they do and decided this was the perfect fit for me. Prior to this I had done various admin roles, and completed a degree in film studies! I started working at this firm at the age of 27 and it's definitely something you can get into later in life if you want to. It helps to have the drive and compassion to want to help people, and in my opinion you need to be in it for the relationships you create and the love of your clients, not for the money. I hope that helps!
@@Louise.Fitzgerald_IFA oh wow I came from design studies! I do appreciate that personal insight on what drew you to it. Definitely for my deeper consideration. Helping people and relationship building are intrinsict to what drives passion in my work :)
Thank you again Louise!
Thank you for the video:)
Would you say that CII has the best reputation for IFA qualification? There are a couple schools out there and I want to study at the best.
Thanks for watching. The CII is one of the most reputable examination boards along with others such as the CISI. I would suggest doing one of those. The choice comes down to the method of study as they take very different routes.
@@Louise.Fitzgerald_IFA thank you
This is exactly how I did the CII route, which is perfectly doable. I'm afraid I can't comment on the CISI route.
Hi Louise
Just want to ask you a question, what age did you get into the industry. I’m 26 and just starting my level 4 diploma would love to do your job find it amazing and so interesting but worried if age is against me
Thanks Charlie
Thanks for watching Charlie. Age is absolutely not against you. I became an administrator at the firm I work at now at the age of 27 and finished my diploma just before I turned 31. Go for it!
is there an option to become charted after??
EDIT:
You mentioned you are trying to become charted, have you got an additional video explaining that process too?
Yes, absolutely! With the CII the process is continuing to take exams with a certain number needing to be level 6, and the other credits can be made up from any units you like. I believe you need 290 credits in total to become chartered. This is something I'm still working towards.
Would you know of any podcasts or audio booms and how to get them.
About becoming an IFA?
For ifa study material based on each module
I breakdown each exam in individual RUclips videos on my channel. I'm afraid I don't know of any podcasts or audio books
what other kinds of Diploma's are there? I can see that ro1-6 is specific to financial planning
The CII Diplomas are to become an Independent Financial Adviser or there is the Diploma in insurance. These are the only Diplomas available from the CII/PFS.
@@Louise.Fitzgerald_IFA If I was to take up RO1-6 how would you recommend revising for it? or is there any bodies that provide like revision material etc that you could recommend?
Can a CeMap qualified mortgage broker arrange commercial loans?
No, a CeMAP qualified mortgage advisor typically cannot arrange commercial loans. The CeMAP qualification focuses on residential mortgages, not commercial lending. It equips advisors with the knowledge and skills to advise individuals on buying a home and securing appropriate mortgages. Commercial loans are a different beast altogether. They involve financing for businesses, with unique considerations like property types, risk assessments, and loan structures.
Good day, you mentioned a few times the word diploma, what diploma are you referring to please; first deploys? HND? Many thanks
The diploma in regulated financial planning
@@Louise.Fitzgerald_IFA but I have a diploma level 2 in cleaning and support skills. There are lots of levels of Diplomas from level one all the way through to a higher National diploma, so when he speaks about a diploma what level does he mean?
It's a level 4 diploma
@@Louise.Fitzgerald_IFA Thankyou for coming back to me x
Hi. Great video! I'm currently studying for my first degree in economics and also develop London residential property using family and friends money (set up joint ventures). I've limited myself to only working with family and close friends as I understand this is allowed as per regulatory guidelines. However, I want to be able to work with individual retail investors, not necessarily sophisticated or high net worth, from not just family and friends. What are some qualifications I should look into that would make me authorised to do this? CISI, CII, etc?. It's difficult to get solid information online and the FCA itself doesn't offer too much advice too which is incredibly frustrating. Thank you in advance for any guidance you can provide at all. Shah
Hi. Thanks for watching. If you complete the level 4 diploma you will be qualified to advise people of all net worths and backgrounds. You won't just be limited to advising HNW or sophisticated investors.
Taking my CF1 exam now, any tips would be appreciated!
Hi. Thanks for watching. I'm afraid I haven't taken CF1 so can't give you any tips. Good luck!
Great video! Do you know what the current deadline is to complete the R0 exams once you've started?
Hi. Thanks for watching. Yes I do! It's 48 months from starting to passing all exams and getting signed off as Competent Adviser Status.
@@Louise.Fitzgerald_IFA Great thanks!
Hi Louise, I spoke to this career lady at my school about becoming a financial advisor and she told me that I shouldn't become one. She said there are hardly any financial advisor jobs. And I would struggle to find a job. Is she right? I would love to become a financial advisor but when she told me this......now I'm not sure :/
Hi Nara. She couldn't be more wrong. There is a massive shortage of young financial advisers to replace the vast majority of advisers that will be retiring in the next 5-10 years and there is a desperate need for young blood. Please don't let this put you off.
Nara - Louise has more knowledge than me as she currently works in the industry (I'm still studying towards the diploma) but agreed, from all my experience that's terrible advice from the careers lady. I'd be intrigued where she got that opinion and I think it's sad that young people could be getting told that nonsense.
There's a large amount of demand for (good!) financial advice as the boomer generation enter retirement as well as the younger generations becoming more money aware added to older advisors leaving the industry due to regulation and general fatigue.
I wouldn't let the careers lady put you off at all, good luck!
Did you study your DipPFS online, in class or self study with books?
Hi. I self studied with books/ebooks.
So I’m studying towards my diploma while working as a finance assistant in an academy, I want to be an IFA administrator but my recruiters are telling me they can’t consider me without IFA firm experience.... seems like a vicious circle! Realistically if I email loads of my local firms offering to work for free for 2-3 months do you think this would work and they may say yes? Many thanks 👍🏻
Also will LP2 count towards my diploma in financial planning as 20 credits?
Hi Slayn. Thanks for watching. Sadly with a lot of jobs it seems you need experience and qualifications. But I wouldn't believe everything your recruiters are telling you. I got a job as a financial services administrator with only admin experience, by applying direct to a small firm, so having industry experience isn't always necessary, and it can be better sometimes to go direct to a firm rather than through a recruiter. I can't say for definite, but your LP2 credits may well count towards your Diploma. This is something you will need to check with the CII. I hope that's helpful!
@@Louise.Fitzgerald_IFA thank you that is very useful information. How long roughly as a ballpark figure would it take to go from IFA administrator to Paraplanner? Excluding the time for exams,great video and great channel btw!
You don't need to do the Diploma to become a paraplanner. There is a separate qualification for that. Once the exams are completed you should be able to start the transition immediately.
I completed r01 and r02 in 2019 do you think i would still be able to do the rest, worried about time limit
I'd reach out to the CII to see if any time limit currently applies.
Hi, I am after a bit of advice if possible please. I am not employed as an adviser or at a financial advisory company, I currently work as a finance support officer at a school but have previous experience in a bank and am looking at trying to become a financial adviser/planner the only relevant qualifications I have are AAT level 4 professional diploma in accounting, what do you suggest is the best way to get into this career?
Hi. You will need to complete a level 4 diploma in financial planning through a regulated body - the CII, CISI or LIBF
@@Louise.Fitzgerald_IFA If I go to join via the CII which membership suits me the best and will the DipPFS increase my chances of finding a job in this career if I study it alongside my current none related work
Hi Louise,
Thanks for coming back to me so promptly.
I will send an email as soon as possible and you can reply back to me whenever you can, no rush.
Best regards
Rahool
How do you become chartered? How many exams are there?
You need 290 credits and a set number of those need to come from AF exams. You can make the other credits up from previous exams and other exams. Depending on the modules you choose depends on how many exams you need to do
is it possible to get both a diploma and a degree in finance. or is it commit to one. i want to become a financial advisor but I don't know if i'll be successful at it. if i get both a diploma and a degree i can branch out into a different job if it goes south as a financial advisor.
Hi. Thanks for watching. Whatever higher education you have, you will still need to do the Diploma to become an IFA. I have a degree in a completely unrelated area and pursued the Diploma 10 years later.
@@Louise.Fitzgerald_IFA thanks for everything, i was very unsure on whether i should pursue a career in financial advising, you've made my decision way more easier.
after us Cma is this is a good option?
I'm not sure what you mean...
Dear mam Louise Fitzgerald (IFA)
I am jitender pal singh from INDIA and qualified technical analysis of financial market MSTA (U.K) AND CFTe (U.S) . what kind of course needed to become (IFA) in LONDON for professional like me? I am looking forward your suggestion and direction for achieving my goal. THANKS AND REGARDS.
You will need to complete a level 4 diploma, as my video suggests. The only thing you may benefit from is your current qualifications may count as prior learning towards the level 4 diploma, but you would need to check that with the exam board you use.
@@Louise.Fitzgerald_IFA THANKS FOR REPLY ,It is my great experience today that I got reply in a matter of few moments. you mean to say level 4 exam has to be passed and my qualification is eligible for entry level for exam level 4 to become (IFA) THANKS AND REGARDS.
Yes, the level 4 diploma has to be attained to become an IFA. There are no entry requirements.
@@Louise.Fitzgerald_IFA THANKS FOR ASSIT ME , FROM WHERE I CAN DO IT AND WHAT IS TOTAL COST OF DOING THIS COURSE AND DURIATION OF THIS COURSE? THANKS AND REGARDS
You can do it through several different institutions. I did it through the CII - Chartered Insurance Institute. If you look on their website you can find details of the costs.
Hi i want some advise regarding the dipfa if i complete this qualification and want to go self employed with no work experience is that possible
Hi. It would be possible but I think you would struggle to get clients if you have no experience. Look at it from this perspective - If you were looking for someone to manage your money, would you look for someone newly qualified with no experience that's self employed or someone newly qualified but part of a firm where you would be supervised and supported. I think it would be a lot of admin and throwing yourself in at the deep end in all honesty. But that's just my opinion.
Hi, I am looking at a change in career and considering becoming a financial adviser. I am confused as to whether I need to do the DipFA qualification or the Diploma in Regulated Financial Planning.
Please can you advise?
Great news. It's really a matter of personal preference. Upon completion, both qualifications will end with you qualified to be an IFA but they have different routes - coursework, multiple choice exams, written exams, etc so it really comes down to which method you prefer
@@Louise.Fitzgerald_IFA Is it quite difficult to find clients these days? People do not seem to want to pay for advice anymore?
Hi Vincent. Thanks for watching. We always have a steady stream of new clients, though most of our business is ongoing client servicing. A lot of IFAs prefer to have mostly renewal business, but each adviser has their own business model.
@@Louise.Fitzgerald_IFA Louise thanks for the reply. Can I just ask you if a Pension Transfer is below £30,000 are there any circumstances where you need to take financial advice or is that not required at all for small amounts?
That really depends on the type of pension and the provider. Some will want you to have had financial advice or spoken with pension wise, whereas others will be happy to give you the relevant risk warnings and do the transfer without financial advice.
Hi, how can i find a good Independent Financial Adviser (IFA) in London UK please?
Hi Nicholas. There is a website called find an adviser - thepfs.org/yourmoney/find-an-adviser/. You simply put in your location and it will bring up all the PFS qualified financial advisers near you. If you are happy with remote contact however, don't feel like you have to use a local adviser. If you would prefer a personal recommendation, ask friends, family or colleagues. They may be able to recommend someone.
Hello how do I enroll at the Chartered Insurance Institute? I'm a Ghanaian graduate. Thanks
Head to the CII website and follow the link to the qualifications section and the particular exam you want to enrol in
Hello im in year 13 and im currently studying for Dipfs in financial studies level 3 and i was wondering if this would help me become a financial advisor
That's great. It will depend which exam board you are studying with and if any modules you are currently studying will help contribute to the Diploma in Regulated Financial Planning as existing credits.
Louise Fitzgerald DipPFS EFA I got it from LIBF so I’m hoping it can provide value to me and get me a qualification that i can use to get a good job And standout in the job market
Brilliant. I'm sure it will. I got my diploma with the CII, which means I can use the letters DipPFS and EFA after my name. I'm sure there is an equivalent qualification with LIBF to become an IFA but it's probably called something slightly different and will give you different letters upon achieving it. Good luck!
Are IFA Administrators and IFA’s the same thing?
Hi. No they are very different. Administrators are office based and require no qualifications. They do not advise clients but provide admin support to advisers. IFAs must have appropriate qualifications and meet with and advise clients. This tends to involve some office based or home working and traveling to see clients where appropriate. I hope that helps and thanks for watching!
@@Louise.Fitzgerald_IFA Hi Louise sorry if that’s a dumb question. It’s because I have seen many IFA administration roles on indeed and on the Reed.co.uk website and I have applied to so many of them but keep getting rejected. Me myself come from a Banking background and have done contractual roles with HSBC, RBS and Lloyds Banking Group. Any suggestions on what I can do to improve my chances? Also these IFA administrator roles that I have been applying for are through agencies.
Not at all. Have they given you any feedback? Were your positions at these banks adminstrative? I would say the most important thing is adminstrative experience followed by industry experience. If you have both of those you should be on to a good thing.
Hi Louise. I've seen many places that mention a Level 4 - Diploma for Financial Advisers (DipFA®) as the qualification needed. Is this the same thing as the RO exams?
Hi Mark. This is the gap fill diploma for those who have other CII credits. If you have no existing CII credits you need to do the Diploma in regulated financial planning (DipPFS).
@@Louise.Fitzgerald_IFA Thank you. In your honest opinion, is this at all achievable independently, with the goal of being a freelance IFA? Or is it really only achievable within the firm? I presume gaining clients would be the main problem.
The exams themselves are expensive, so it can be very helpful if you are part of a firm who will fund this for you. You can most certainly do it solo, but as you say, being a newly qualified IFA it may be quite a struggle to gain clients from the off.
Hey sorry can i become a financial advisor without going to university
Yes absolutely. I have a degree but it is in a completely unrelated subject
@@Louise.Fitzgerald_IFA thanks for the advice
may is ask what your base salary is?
Thanks for your question. But I'm afraid I'm not willing to disclose that on such a public platform.
@@Louise.Fitzgerald_IFA ok, i'm sorry i was just curious.
@@Louise.Fitzgerald_IFA , not your personal salary, but but it would be good know, good decisions are made based on financial knowledge after all.
Hi Louise, great video and really helpful all round. I noticed you've provided your email address below in the comments, would I be ok to send an email across with a few questions and a bit more on where i'm at within my career? (thought i'd ask first)
Hi Akil. Thanks for watching. Yes absolutely. Please drop me an email. I'd be happy to help if I can.
Hi Louise,
Thanks for your video.
I have completed my DipFA on my own back and have been working within mortgages since last 4 years. I am really keen on getting some career advice you. Can I get your official email address where I can send query and you can advise me accordingly please.
Many thanks
Hi Rahool. Thanks for watching and well done on completing your DipFA. My email address is louise@horlockholdcroft.co.uk. I'll be happy to help if I can.
HI, currently in the administration role you have been talking about. I have been working in company for 5 years and have only r04 to go. Looking some tips and advice. Would be keen to catch up via email?
Hi Jody. That's great news. Congratulations. Please feel free to send me an email - louise@horlockholdcroft.co.uk