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job after DFP course

Discussion in 'Financial Planning' started by umangwani, 20th Jan, 2010.

  1. umangwani

    umangwani New Member

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    20th Jan, 2010
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    Location:
    sydney
    Hi,
    Currently I am doing DIPLOMA IN FINANCIAL PLANING from INVESTMENT BANKING INSTITUTE, have compled all 4 module exams,currently doing case study for it.
    Can you please advise,will I get job in financial service after completion of case studys.currently I am working in sales in B2B its telesales role.would it
    be helpful in getting job in financial sector.
    which sector in financial service should i start applying for,i-e In manged fund,Insurance,shares.
    What would be entry level pay scale?
    thanks,
    umang
     
  2. jdf81

    jdf81 Member

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    It depends what you want to do. Do you want to provide advice? I would suggest working as a paraplanner would be a good starting point.
     
  3. umangwani

    umangwani New Member

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    Hi,thanks for reply
    Would I get job as para planner?as even for para planner requirs experience?what should i show in preparing resume ? would experience in sales and fresh in financial service would do?
     
  4. jdf81

    jdf81 Member

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    You are right that paraplanning jobs often require experience, but sometimes they might offer a junior position. Otherwise, try starting in Client Services at a financial planning office.

    Previous sales experience would help you I would think. Emphasise this on your resume, and say that you are willing to learn from the ground up but the sales experience will hold you in good stead for a job as a financial adviser in the future.
     
  5. merlinnn

    merlinnn Active Member

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    Can anyone elaborate further on the initial wages/salary they have started out on in the industry and the career ladder they have since climbed?

    My plan is to finish the diploma, start the advanced and then start looking for work in the hope that I might be able to start a rung or two up from the bottom. I'm 30 and have run my own business for the last 3 years until recently working in management here in brisbane in a non financial services industry.

    Some of the wages I have seen on seek for client services and the like are a joke $30 to $35k a year??? makes it a little hard to support the family on that sort of income! However I have seen up to 50k advertised for admin in Melbourne and Sydney

    Any feedback from those of you already employed would be great

    Cheers
     
  6. jdf81

    jdf81 Member

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    I started in Client Services. I held this position for a few weeks and I was required to start helping with some paraplanning. I am now a permanent paraplanner.

    Initial salary was very low - expecially considering I took a 50% pay cut to get a start in the industry. I started on around 30k. It is now up around mid 40s. I expect this to climb significantly in the next year or two as I will start advising this year.

    You may have a problem in that you will find that many businesses will want industry experience of some type. With little experience, they may want you to work off a low base regardless of whether you land a job as an advisor, paraplanner or in client services.


    That sounds about right. As a praplanner you would probably start off around 40k odd, and after a bit of experience you can earn as much as $65k after a couple of years, and more if you lead a team of paraplanners or you are a valued senior paraplanner. The long term prospects are good, but you will often need to take a hit to get a start in a new industry.
     
  7. umangwani

    umangwani New Member

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    hi

    Hi,
    How to get job in client service in financial service,do they recruit freshers in
    financial services.after having done 2 modules of DFP course.
     
  8. jdf81

    jdf81 Member

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    I got a job after completing one module. You don't really need the DFP to work in Client Services, so you'd probably be able to get a job now.
     
  9. umangwani

    umangwani New Member

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    hi

    Getting job in clients service requires experience?what is salary we get?where can i apply in clients service jobs.?
     
  10. jdf81

    jdf81 Member

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    Look for jobs in all the normal places, ie. Seek, your local paper. Also try calling, mailing and emailing financial planning firms.

    Client Services does not necessarily require experience, but I had previous experience in the financial services sector. The salary a client services employee may get has already been discussed in this thread - please read all the posts.
     
  11. Mel1776

    Mel1776 Member

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    I currently work in Client services in an un financial industry while I study the DFP - I am currently finding it hard to find that job I need in Client Services/Administration job in the financial sector to get my foot in the door - does anyone know if there is another option than seek to find a position?

    Pay rates depend on the location I find - if you are going into the city you may find higher paying positions - but client services/admin work can vary - you just have to be willing to sacrifice until the studying is done and start looking for that paraplanner work.
     
  12. AsxBroker

    AsxBroker Well-Known Member

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    I've seen roles as high as $100K for paraplanners though this was pre-October 2007 / Crash levels. Senior Paraplanners get $70k to $80 plus bonuses.

    Cheers,

    Dan