Could an IFA switch into trading??

[LoveGravy]

Hello all, I've not been here in a while!

Well, my career in financial advising is coming along...i'm doing exams with the CII and will be RDR ready within 12months!

Just wondering if working as an Independent Financial Adviser will give me any relevent experience as a trader in a firm and whether they would look favourably on my background. I am new out of univeristy.

 

[shadowninja]

What does an IFA actually do?

 

[LoveGravy]

Monitors markets and generally involves reading up on finance news.
Dealing with clients and 'selling' ideas/products
Report writing
Recommending actions/products for the client to act upon

amongst other stuff

 

[shadowninja]

When you say monitor markets, do you mean analyse them and make educated guesses as to the direction or just watch them like my retired mother does?

 

[counter_violent]

There's 2 sorts of FA's.
The ones who only offer the products and services they are trained in and tied to by the outfit they work for. So not independent at all...just salesmen. They could be selling any old crap, and usually are.

The other sort charge fee's or commision and are generally much better placed to give true independent advice as they are usually up to date with everything.

So which is it ?

Btw. Whichever you are will not be of much benefit when it comes to actual trading of markets, but you should have a good grounding in how it all works I guess.

 

[Dommo]

Hi LG (apologies - I just can't bring myself to repeat your moniker!)
If you're looking for employment as a securities trader per se your IFA experience will have little relevance. Unless I'm much mistaken success as an IFA means success in sales. That, I reckon, is the most valuable skill in business. If you are a good salesman, and are willing to work hard, you are made. If you can transfer that skill to different industries/clients, so much the better.
And if you want to be an employed trader, well go ahead and make enquiries, but an IFA qualification is not the obvious route.
Regards
Dommo

 

[LoveGravy]

Thanks for all the replies

We are completely independent and impartial.

I'd say the job is more about 'getting it right' rather than selling. Making medium to long term recommendations based on how we think the economy may affect them.


Also, would you say there is an education requirement in most firms i.e. AAAA students only???

 

[shadowninja]

How do you analyse the economy? It sounds like you'd be more suited to position trading eg if you thought the market was going up in March 2009 then you would have bought FTSE or specific FTSE shares.

 

[LoveGravy]

I focus more on the fundamentals rather than technical/chart analysis.

I've not done intra-day economics/trading, my time frame would be fortnightly or monthly (or longer!)

 

[shadowninja]

In that case, you might be able to trade for yourself holding positions.