Semi-Lateral Employment Change / CSI requirements

Employment

Hi folks I will keep this brief.

I'm currently working in Mutual Fund trading at one of the top banks in Canada. The position required the IFIC license and I've been working here for just over a year now. I've recently applied for a position as a financial advisor at one of the other big banks and have the first interview coming up tomorrow. I don't have too much info on the role/comp yet but I have a pretty decent idea that its roughly an $8,000 - $10,000 raise from what I'm currently making. The position requires the Certificate in Financial Services Advice (CFSA) from the CSI, which is comprised of the Personal Financial Services Advice and Financial Planning level 1 completion. Each course is about $650 and has to be completed within 6 months of starting the job.

I'm also simultaneously thinking about registering for the CFA L1 exam for December 2020 and I'm not sure what to do. The CFA and the two courses for the CFSA would be aggressive for the next 6 months but at the same time, the raise would be a really welcome addition to my current finances.

The feedback I'm looking for here is: Has anybody had experience in completing the PFSA and FP1? what kind of time frame can you recommend? What benefit would you see in not taking the FA job and staying where I'm at. What would you do?

Posted Jun 4, 2020, 11:24 PM UTC

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