FAQS
What certification do you need to give investment advice?
In the UK, you need to have at least a Level 4 qualification recognized by the Financial Conduct Authority (FCA). The most common certifications include:
- Diploma in Regulated Financial Planning (CII)
- Investment Advice Diploma (CISI)
- Certified Financial Planner (CFP) – CISI
You must also be approved by the FCA and appear on the Financial Services Register to legally provide investment advice.
What is better, AIF or CFP?
- AIF (Accredited Investment Fiduciary) – Focuses on fiduciary responsibilities and investment management. More common in the US.
- CFP (Certified Financial Planner) – A globally recognized certification that covers comprehensive financial planning, including investments, retirement, tax, and estate planning.
For broader career opportunities, CFP is generally better, especially in the UK.
How do you qualify as an investment advisor?
To become an investment advisor in the UK, you must:
- Obtain a Level 4 qualification in financial planning or investment advice.
- Pass the FCA’s “Fit and Proper” test, which includes a background check.
- Gain practical experience in financial services.
- Register with the Financial Conduct Authority (FCA).
How do I become a financial investment advisor?
- Step 1: Get a Level 4 financial qualification (e.g., CII, CISI).
- Step 2: Gain experience in financial services, such as working for a bank or investment firm.
- Step 3: Pass the FCA’s regulatory requirements.
- Step 4: Register as an Independent Financial Advisor (IFA) or join a regulated firm.
Do investment advisors make a lot of money?
Yes, investment advisors can earn well, depending on experience and clients.
- Entry-level: £25,000 – £40,000 per year
- Experienced advisors: £50,000 – £100,000+
- High-net-worth advisors: £150,000+ (with commissions and bonuses)
Can I be a financial advisor without a degree?
Yes! A university degree is not required, but you must complete a recognized financial qualification (e.g., CII, CISI). Many advisors start in banking or finance and gain qualifications while working.
Is 30 too old to become a financial advisor?
No, 30 is a great age to start! Many people switch careers into financial advising later in life. Having work experience in finance, sales, or business can be an advantage.
How hard is the CFP exam?
The CFP exam is challenging but manageable with preparation.
- Pass rate: 50-60%
- Covers investment planning, tax, retirement, and ethics
- Requires 6+ months of study and real-world financial experience
How to get a Series 7 license?
The Series 7 license is a US qualification (not required in the UK). To get it:
- Be sponsored by a FINRA-member firm (a brokerage or investment company).
- Pass the SIE Exam (Securities Industry Essentials).
- Pass the Series 7 Exam, which tests knowledge of stocks, bonds, options, and regulations.
Is the Series 7 exam hard?
Yes, the Series 7 exam is considered difficult.
- Pass rate: 65-70%
- 125 multiple-choice questions in 3 hours and 45 minutes
- Requires strong knowledge of financial markets, trading, and investment products