QFA exams

hi,

thinking of changing jobs, been offered a mortgage consultancy position.

What should i look out for regarding commission v basic in the deal?

what other incentives are offered in these positions normally?

also, will it take me long to get settled into the flow of the job, no previous financial sales experience??

will have to sit qfa how difficult??

thanks in advance

(i think this thread may be moved, but I'll reply regardless)

Hi,

You must make sure you have enough to cover all your expenses obviously, but it does make a difference having a little extra in your basic, as it takes some stress off you at home, so you can focus focus focus at work.

Ideally, several streams of income from the work you do, from converting leads, passing referrals to other suitable consultants, be it life or mortgages, and also some lucrative commission structures for personal business you bring in. But most brokerages will have nice packages in place.

It will take you a little while to settle in and build up your confidence. Be as informed as you can be on the mortgage market and all the lenders criteria, rates & products. Your clients need to trust you and be safe in the knowledge that you are more than able to manage their personal finances.

Read, Read, Read. The Sunday Business Post should be weekly readin material. Eddie Hobbs' "You and Your Money" contains some informative articles from time to time. Many other personal finance books, like the Money Doctor, etc. And of course, you will learn an awful lot from AskAboutMoney - I have.

QFA - They are fine. Prepare, Work Hard & go into the each exam with a clear head and you will have your QFA within 1year. (i have 5 from 6 - so any help you need, I'll try my best to assist)

Best of Luck with the new job! Keep a positive attitude and look after your clients.
Provided you give your clients an excellent service, they will reward you substantially.

J



P.S - Ask for referrals!!!!

Jonathan.OB said:

QFA - They are fine. Prepare, Work Hard & go into the each exam with a clear head and you will have your QFA within 1year. (i have 5 from 6 - so any help you need, I'll try my best to assist)

Click to expand...

Is it possible to do them all in a year?
I thought the scheduling of the exams would mean it would take 18-24 months before you could do them all?

Yes, even less than a year if you're determined enough.

Jan - Life & Pensions
May - Loans & Investments
Sept - Regulations & Financial Planning.

Just done 5 in 12 months myself, a little extra that I wanted, but circumstances influenced my plans.

J