Financial Adviser Career Path

26 April 2019

Business woman points to a calculator

In order to begin your career as a financial adviser, you must hold a relevant, recognised qualification. The DipFA (Diploma for Financial Advisers) meets the Financial Conduct Authority’s (FCA) requirements for financial advisers and is the perfect qualification for this sector.

The DipFA prepares you with all of the knowledge and skills you need in order to begin work as a financial adviser. It’s the ideal stepping stone to a new career. But what happens next?

Your next steps as a qualified financial adviser

Once you complete your DipFA and exams, you are ready to apply for your Statement of Professional Standing (SPS). Once you hold this, you are ready to start advising your first clients.

The job role of a financial adviser

As a qualified financial adviser you will offer clients professional advice on what best to do with their money. You must research the different products available and make recommendations based on your findings.

The kinds of products you might offer advice on include:

  • Pension schemes to companies
  • Pension plans to individuals
  • Mortgages
  • Saving plans
  • Insurance

The exact products you advise on will depend on the job you choose and who you work for. You may decide to specialise in one particular area or work as a general financial adviser. The choice is yours.

If you find yourself working for a particular company, you are likely to be limited to recommending products sold by them. At the other end of the scale, you could become an independent adviser and offer products from the whole market.

Once you hold your DipFA and SPS, the next steps in your financial adviser career are up to you. Whatever you end up doing within the industry, your skills will be valued and your advice taken seriously. It’s important to understand your responsibilities and realise that clients will make big financial decisions based on your advice.

Progression beyond the DipFA

The DipFA is the perfect place to start when beginning your career as a qualified financial adviser. If, however, you then decide to progress further and add to your qualifications, the Level 6 Diploma in Financial Advice (Adv DipFA) makes a great next step. You can study this once you have at least three years of experience.

Another option is to progress your skills in a different direction and study the Award in Pension Transfers (AwPETR). This leads you towards becoming a pension transfer specialist and also counts towards a Professional Diploma in Banking and Finance.

Take the next step

So you see, the DipFA is just the start of what could become your exciting new career.

If you’re interested in enrolling on one of our courses, don’t hesitate to get in touch. Our friendly team are ready to answer all your questions and talk about your options.

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