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Qfa

  • 27-10-2007 4:02pm
    #1
    Glacier
    Closed Accounts Posts: 647 ✭✭✭


    These aren't really qalifications are they? I know it's mandatory that you have them now, but are these only recognised within the Republic of Ireland, it's not like a degree where you could travel with it? Anyone ever done them?
    Thank You


Comments

  • #2
    Climber
    Registered Users, Registered Users 2 Posts: 184 ✭✭Climber


    I have completed the QFA, so now I'm apparently a Qualified Financial Advisor.
    The EU have brought in a 'minimum competence' level requirement throughout the retail banking network requiring any person working in the sector that deals directly with customers and that their job entails explaining/selling financial products (pensions, loans, investments etc) to the General Public to have this Diploma.

    The reason behind this is that previously, the General Public where relying on ill-informed bank staff giving them completely useless, terrible financial advice!
    Motivated by the bank needing to SELL SELL SELL regardless of whether the customer needs the product or not (ie making an 82 year old Woman invest all her savings in a 5 year tracker bond)

    In my opinion, nothing much has changed and the diploma is worth the paper it's written on. The Banks still want their employees to SELL SELL SELL, so even though you get your QFA diploma (which is all about needs based selling, do right for the customer etc.) you have to sweep all that aside and carry on as you left off i.e. SELL SELL SELL.

    The QFA is NOT the equivilant of a degree. It's equal to a 6 month useless FAS course at best. It's not recognised by any other country either.

    If I were you I'd do accountancy (ACCA, CIMA etc) these are recognised by almost every country on the planet!


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