Can I work as Financial Advisor without a degree

[difenp]

Hello everybody.

I need to take a decision and I wanted to receive an advice.

I would like to study for the Diploma in Financial Planning, but I am skeptical about my future job prospective since I do not hold an undergraduate in Economics or Finance.

At this point I was wondering if at the end of 9 months of work I am gonna simply realise that my applications will be rejected.

Is there anybody working in the industry in London or in other cities in UK that can give me an opinion?

Best Regards.

 

[Ej21]

Yes, in fact in my experience most don't have a degree. I worked as a tied adviser and an IFA. Success was down to sales ability rather than knowledge of finance.

 

[tony84]

You do not need a degree, you only need the diploma in financial advice. Very few will have a degree and a diploma.

However, once you have your exams you then need to get CAS (Competent advisor status), this I found harder to get as you need an experienced advisor and manager/business owner to sign you off.

 

[difenp]

Hello Tony, thank you for replying.

Do you know how to get the CAS signed ? Do I have to work as assistant for a certain period of time.
I am just concerned that I cannot match day job and training period if that's the case.

Regards.

 

[tony84]

CAS is where you basically do the whole process (speak to the client, complete a factfind, submit the business, ensuring you have all the relevant documents and write a good enough suitability letter) a few times (different companies have different requirements) and someone in a position to do so signs you off as competent.

If it is a large company (a bank for instance) it would usually be a manager of some sort. If its a small company, it would usually be either the business owner if they are directly authorised by the FCA or a member of the compliance team if they are part of a network.

There are no set requirements as such.

 

[paulWW]

well if you have the passion for it and you love this work, then i think you better give it a shot. Start investing in companies, buy their stock so that you learn quickly and then open your own hedge fund !

 

[difenp]

well if you have the passion for it and you love this work, then i think you better give it a shot. Start investing in companies, buy their stock so that you learn quickly and then open your own hedge fund !

Hello Paul. Trading is different from investing. Allocation of funds and time horizon of the investment, make them two different animals.
As IFA you might like to work for a Wealth Management. In that case you may advise regarding investing in funds or other financial assets that can get higher returns compared to bonds or less riskier investments.

Kind Regards, Francesco.

 

[Cloudcandy Sales]

In my opinion Yes you can work as Financial Advisor without a degree. As I know there is no rules as such that you should have a degree to work as a Financial Advisor.