What Qualifications Do You Need to Be a Financial Advisor?

Posted by: Jannike Post Date: 4th November 2014

Every year, hundreds of people apply for roles within the Financial Services industry, in areas such as financial administration, life insurance, pensions, investments, mortgage, and general insurance. It’s perfect for those with drive and ambition, enabling you to advance quickly, and benefit from a competitive pay structure.

There are several courses you can do, depending on the specific area you want to go into. So, what qualifications do you need to be a financial advisor?

Financial Administration

What Qualifications Do You Need to Be a Financial Advisor?

If you are looking to get into financial administration, in a role such as Insurance Underwriting Administrator, Broking Administrator, or Banking Cashier, the CF1 (Certificate in Financial Planning) and FA1 (Award in Financial Administration) qualifications are ideal. CF1 gives you a basic understanding and knowledge of the financial services industry, including regulation and legislation. FA1, on the other hand, arms you with the bookkeeping skills needed to record financial transactions.

General Insurance

To get into general insurance, in a role such as Paraplanner, you would need to complete a the Chartered Insurance Institute (CII) qualification, which is nationally recognised qualification within the insurance industry. The CII course focuses on business risks such as health and safety, financial risk, skills retentions, and the loss of IT capacity, and will develop your ability to manage these risks.

To achieve the Certificate, you will need to complete IF1, followed by two more units (IF3 and IF5).

Mortgage Advice

If you’re an aspiring Mortgage Advisor, you have a couple of options. Firstly, you can do the standard Certificate in Mortgage Advice and Practice (CeMap) qualification, or the Chartered Insurance Institute Certificate in Mortgage Advice. Once you have completed this, you will be a fully qualified Mortgage Advisor.

As a Mortgage Advisor, you will be able to provide mortgage advice, either self-employed or on behalf of a lender such as a high-street bank or building society.

The CeMap qualification is broken down into three levels. Level 1 covers the UK financial regulations, Level 2 is about mortgage lending and, in Level 3, you will be able to put your knowledge into practice. It’s advisable to study Levels 2 and 3 together after completing the Level 1, as they go hand in hand.

Want to become a qualified financial advisor?

Get in touch below to find out how, or call us on
01332 613 688


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