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CIMA qualified

  • 27-08-2009 10:29am
    #1
    Shannonsider
    Registered Users, Registered Users 2 Posts: 301 ✭✭


    I am thinking longer term and would love to set up my own business. I am CIMA qualified and would be interested in working for myself. Anyone have any sugestions?

    Do I need QFA on top of CIMA if I want to becom an independent Financial Advisor?


Comments

  • #2
    soddy1979
    Registered Users, Registered Users 2 Posts: 284 ✭✭soddy1979


    If you want to be a true IFA, by this I mean one that works on up front fees and not sales commissions, I suggest going for CFA instead of QFA.

    See www.cfainstitute.org

    Feel free to reply/PM me if you want to chat further about it.

    Soddy


  • #3
    Shannonsider
    Registered Users, Registered Users 2 Posts: 301 ✭✭Shannonsider


    I'm guesing up front fees refers to advising companies where sales commissions are applicable for individuals?

    I was wondering is there something I can do without having to do more exams?


  • #4
    soddy1979
    Registered Users, Registered Users 2 Posts: 284 ✭✭soddy1979


    Hi,

    By up front fees, I mean your client will pay you a percentage of the money they want you to manage. Generally it will be X% per year.

    This is in contrast to the other type of investment advisor who will charge his client nothing, but will take a sales commission from XYZ investment funds for getting them the money.

    Either way you will probably need QFA to operate in Ireland (I'm not positive on this) but if your looking to build a big book, again I suggest the CFA program as it is widely respected in the investment industry.


  • #5
    Shannonsider
    Registered Users, Registered Users 2 Posts: 301 ✭✭Shannonsider


    thanks for the advice soddy1979.


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