cisi certificate in investment management or imc

[crude_lover]

Just a bit confused which is better to take purely to get fsa approval forget which looks better on a cv. the imc or the cisi investment management certificate.

I read that the imc is being upgraded to a level 4 qualification wheras the cisi remains at a level 3 so surely the cisi is the easier of the two.

Any insight in this would be appreciated.

 

[scose-no-doubt]

Are you joking? CISI is a chartered body. IMC level will be a piece of pi55 in comparison. It's nowhere near the league as a full CISI.

Why don't you speak to the FSA? Probably the only way to get a clear answer on what activities IMC qual allows you to perform.

 

[crude_lover]

Are you joking? CISI is a chartered body. IMC level will be a piece of pi55 in comparison. It's nowhere near the league as a full CISI.

Why don't you speak to the FSA? Probably the only way to get a clear answer on what activities IMC qual allows you to perform.

i have checked on this under the fsa IMC is being upgraded to a level 4 examination whereas the cisi investment management remains at level 3.

 

[scose-no-doubt]

Yes IMC is being upgraded to level 4 from level 3 but you're getting your wires crossed about CISI somewhere trust me. CISI is a post masters level professional qualification.

 

[scose-no-doubt]

Woah sorry guy I see what you're saying now. I though you were talking about the CISI qualification not the CISI cet in inv mgmt.
Sorry.
Erm the reason IMC is being changed to level 4 is because of the new rdr stuff from the FSA. The lev 3 wasn't seen as good enough to advise clients so they changed it and upgraded. On that basis you're better going for the IMC over the level three but just so you know I don't think the IMC is any longer sufficient for FSA approval on it's own. You need other quals.
I'll be doing the lev 4 IMC when they release the OTM next week (or so I'm told) so if you decide to have a go let me know any maybe we can share notes or something. 🙂

 

[crude_lover]

Woah sorry guy I see what you're saying now. I though you were talking about the CISI qualification not the CISI cet in inv mgmt.
Sorry.
Erm the reason IMC is being changed to level 4 is because of the new rdr stuff from the FSA. The lev 3 wasn't seen as good enough to advise clients so they changed it and upgraded. On that basis you're better going for the IMC over the level three but just so you know I don't think the IMC is any longer sufficient for FSA approval on it's own. You need other quals.
I'll be doing the lev 4 IMC when they release the OTM next week (or so I'm told) so if you decide to have a go let me know any maybe we can share notes or something. 🙂

I will be doing it from next week to, is it the same for the CISi cert in inv mgmt, that it is now not enough for FSA approval.

 

[scose-no-doubt]

I don't think it is enough to advise clients any more, you need to combine it with another qualification. CFA are saying IMC+CFA level 1 is enough for regulation. There are also other combinations but I'm not so sure what they are. I think IMC will get you closer to FSA approval than CISI in Inv Mgmt.

 

[crude_lover]

I don't think it is enough to advise clients any more, you need to combine it with another qualification. CFA are saying IMC+CFA level 1 is enough for regulation. There are also other combinations but I'm not so sure what they are. I think IMC will get you closer to FSA approval than CISI in Inv Mgmt.

looks like its the imc for me then lol

 

[scose-no-doubt]

You can now order the 8th edition OTM.

 

[Interceptor]

If you are considering seeking retail investment, then I believe that the new IMC, plus CFA level 1 is the minimum requirement.

 

[Arek Okrasa]

After CISI Exams

Hello Everyone,

As I don`t have any experiance on CISI exams can I ask a few questions?

I am a home based trader and I would like to:
1) start work for a bank, as a trader, or
2) collect funds from private clients and trade on their behalf

Is there any chance that after being FSA regulated (passing Module 1 - 2 and 3) I will be able to apply for a job as a trader or trade on client behalf?

Finally, how long does it takes to study and pass one module? (in average?)

Many thanks,
Arek

 

[majicka]

The level 4+ qualifications only apply to people working in the retail markets. If you're a trader for a bank, or somewhere not dealing directly with retail clients, you only need a level 3 qualification (the CISI Certificate in Securities or IMC/ CISI Cert IM would suffice).

The level 4 minimum is only required for retail advisers from December 2012 onwards, you don't need to have it just yet (though it's obviously better to get it sooner, rather than later).

@Arek Okrasa, you won't be able to trade on a clients' behalf from home. You'd need to work for an FSA regulated company to do this. If you get the necessary qualifications, then you can get employed as a trader and be registered with the FSA, although registration would be unlikely to happen straight away.

 

[Arek Okrasa]

Re: cisi cer. How long does it takes to pass one module

Hello Majicka,
Thank you very much for your replay. Indeed !!!!

Basicaly if I trade from home then, I don`t really need the CISI certificate, but if I would like to apply and work for a bank with retail clients then - I need to pass level 4+.

Anyway, how long does it takes to pass one module...or all three modules? (For instance: 1 -2 and 3rd)

Many thanks, again
Arek

The level 4+ qualifications only apply to people working in the retail markets. If you're a trader for a bank, or somewhere not dealing directly with retail clients, you only need a level 3 qualification (the CISI Certificate in Securities or IMC/ CISI Cert IM would suffice).

The level 4 minimum is only required for retail advisers from December 2012 onwards, you don't need to have it just yet (though it's obviously better to get it sooner, rather than later).

@Arek Okrasa, you won't be able to trade on a clients' behalf from home. You'd need to work for an FSA regulated company to do this. If you get the necessary qualifications, then you can get employed as a trader and be registered with the FSA, although registration would be unlikely to happen straight away.

 

[majicka]

I'm not a trader (so I could be wrong) but if you were trading for a bank, you wouldn't be trading on behalf of retail clients - therefore you would only need level 3. If you were doing something like CFD broking or spreadbetting, then you'd need the level 4 qualifications. Obviously if you're trading, you want to be doing it on the institutional side, not for small private clients trading CFDs.

How long it takes depends on you - how much work you do, how quickly you learn and are able to retain information. Perhaps you could pass them all within 4-6 months... I dunno, I've got a terrible memory, so take ages at things like that. I'd recommend getting extra practice papers, they helped me a lot.

 

[Arek Okrasa]

Hello Majicka,

Once again, thank you very much.

As you know a lot about... I`ve just read that it is not difficult to set up your own hedge fund. If I do, then probably I will be able to trade on clients behalf - maybe then, the CISI certificate will work for me...mean will be needed...

I am very new on this stage

Many thanks,
Arek

I'm not a trader (so I could be wrong) but if you were trading for a bank, you wouldn't be trading on behalf of retail clients - therefore you would only need level 3. If you were doing something like CFD broking or spreadbetting, then you'd need the level 4 qualifications. Obviously if you're trading, you want to be doing it on the institutional side, not for small private clients trading CFDs.

How long it takes depends on you - how much work you do, how quickly you learn and are able to retain information. Perhaps you could pass them all within 4-6 months... I dunno, I've got a terrible memory, so take ages at things like that. I'd recommend getting extra practice papers, they helped me a lot.

 

[majicka]

'just read that it is not difficult to set up your own hedge fund. If I do, then probably I will be able to trade on clients behalf - maybe then, the CISI certificate will work for me...mean will be needed... '

lol. It is difficult to set up your own hedge fund! There's absolutely no way you could do that with no experience. If you want to work for a hedge fund, that's a different matter but starting one is something you'd need to look at after having established a formiddable track record over many years and most importantly having made yourself and your clients' lots of money.

 

[Arek Okrasa]

Majicka,

You teach me a lot. Thank you very much.

Do you know the way that you can make money for your friends or a few private clients without opening a hedge fund? How can I trade with other people money (except working for a bank, etc), build my track record - before I open the hedge fund?
(Mutual funds is not that way as am a trader...long/short)

Kind regards,
Arek

'
lol. It is difficult to set up your own hedge fund! There's absolutely no way you could do that with no experience. If you want to work for a hedge fund, that's a different matter but starting one is something you'd need to look at after having established a formiddable track record over many years and most importantly having made yourself and your clients' lots of money.

 

[scose-no-doubt]

If you're very very very very lucky a cisi alone MIGHT get you a job in some administrative functions in some sort of fund.

 

[majicka]

If you're very very very very lucky a cisi alone MIGHT get you a job in some administrative functions in some sort of fund.

I've met people who worked for hedge funds and long only funds, who only had the IMC.

 

[scose-no-doubt]

Really? Strange considering that IMC doesn't cover FSA regs.

Did they have previous experience? Or were they qualified by experience i.e. working before FSA was formed?