CeFa, a Need for Financial Advisors

People nowadays rely more on financial advisors when making some investments. In all financial transactions like investing in mutual funds, stocks and bonds, the financial advisors are a great help. What makes a financial advisor? Earlier any person could become an advisor. But the situation has changed as companies and individuals now prefer people having Certificate for Financial Advisers (CeFA).

CeFA has become a necessity for becoming financial advisors. It is also that CeFA is a must as per the law of many countries.

CeFA is easy to get. Some think that only persons with financial educational background can take up Certificate for Financial Advisers. But it is not like that. There is no need for any financial educational background for getting Certificate for Financial Advisers. A person having any degree can get the certification to become a financial advisor.

A person pursuing CeFA should have to undergo four exams -- CeFA 1, CeFA 2, CeFA 3 and CeFA 4. The CEFA 1 exam deals with general things on financing. CeFA 2 and 3 comprises of two case studies apart from other questions. The fourth exam has six case studies. Persons who secure 70 per cent of marks are only qualified.

One can also come across institutes that offer various CeFA. It is always better to go for long period course rather than the short-term ones. Some companies also offer a two-day or six-day course but they are not apt for taking up the Certificate for Financial Advisers examination.

Coming to the syllabus, it varies from time to time. he study materials are updated once after the annual budget.