Some people are lucky and they have a job in the financial industry before they get their CeMAP. Many companies will pay to put their staff through a CeMAP training course and the exams, and many companies use Beacon Financial Training for this purpose, however, there are also many of those who wish to get into the financial industry and so they choose to put themselves through the CeMAP exams. Some of them choose a CeMAP Home Study Course and others choose a course held at a centre close to them but each of them has the same concerns. Once CeMAP training is complete and the CeMAP exam has been passed, the question is then what to do next.
After the exam, the newly CeMAP-qualified individual needs to find a company to take them on. As a newly qualified person, most do not have the experience necessary and so the company will have to put them through what is called Competent Advisor Status.
Depending on where the CeMAP training is taken, some training companies will offer a ‘job’ that the delegate has to pay for. However, this is usually not the best way to go about it.
There are companies who are willing to take people on in a self-employed capacity and put them through Competent Advisor Status. Others may choose to pay a low basic whilst they gain competency. Dependent on how many hours the new trainee can put in and how quickly they learn, competency can take up to six months.
Many companies are happy to take on newly qualified people. The fact they have put themselves through the CeMAP qualification means that they have not only shown initiative and dedication, but also a willingness to learn and are keen to get into the industry, all of which are very desirable traits in a new employee. If the CeMAP training was with a quality training company, often this goes in an applicant’s favour as some companies only teach ‘how to get through the CeMAP exam’. The difference in candidates can show so it is often worthwhile using a training company that has a good reputation with employers.
If the newly-qualified delegate wants to become self-employed straight away, and perhaps register with the FSA directly, then there is also the option of paying a compliance company to get you through Competent Advisor Status, although this is a more expensive option.
Should you need further advice or would like to discuss your personal situation, contact a CeMAP training course provider. Any responsible training provider will be only too happy to discuss your options and help you make an informed decision.