To do QFA or ACCA?

S

SF2008

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Hi all!

I am in 4th yr Business Studies, my major is Accounting and Finance.

I know QFA and ACCA are completely different, but I just don't know which career path to follow....

Can anyone give me any info on a job as a Financial Advisor, is it just selling insurance (as I read on another thread)? Is there much career advancements with it? Do many people who do QFA end up doing ACCA exams anyway? I don't want to do QFA exams after college and then to go on and do ACCA (and be back where I started) if I realise that QFA means nothing.

I don't know if I want to become an accountant, I know it is a good job, but I still don't know if its for me.

Any advice would be great.
Thanks in advance.
 
You will need the QFA to become a financial advisor. Probably won't need the ACCA.
ACCA course is very comprehensive and doesn't have to lead to becoming an accountant. Topics covered are tax / law / management / financial and management strategy etc.

Depends on where you see yourself. Many of the financial advisor firms are now moving towards fee based advice, i.e. not just "selling insurance". Some of the bigger accountancy firms financial services arms are moving this way.

Hope this helps. QFA is easy enough get through anyway (apart from expense) get employer to pay for the course, if you are thinking of becoming financial advisor. Likewise with ACCA course if going to become an accountant.
 
Thanks for your advice Galway5!

No I don't really see myself as an accountant (I think!), but maybe the tax/financial strategy area might suit me better. I like numbers and accountancy, but I don't think I could do it full-time.

I like the idea of a Financial Advisor, I would like to work in a bank and see where I can go from there.

I just don't want to regret doing the QFA, if everyone I know is doing ACCA, and they advance more, career wise than me.
 
ACCA is a far better course - compare the course content to confirm this for yourself. Also talk to a careers advisor in your college and see what they think employers are looking for.

QFA is very focused on providing adivse to consumers in Ireland. ACCA will give you very broad knowledge on different areas as I mentioned above. I genuinely found the QFA exams to be less than challenging. If you are young enough I would probably do both at some stage, depdending on what employer you work for you might be able to get both paid for over a period of time.

Best of luck.
 
The most important thing is not to worry what everyone around you is doing and whether they advance more. They may earn more money than you but seriously job satisfaction is most important.

I did a law degree, most of my mates went on to do their legal exams and became solicitors. I knew that it wasn't for me so instead went to London where I ended up in equity sales which was brilliant, really enjoyed it but the hours were just too long (and most of these hours were spent entertaining clients).
I decided to come back to Ireland about 5 years ago and did the QFA as I knew a financial sales type role would suit me. At this time my mates had progressed more quickly and were fully fledged high earning solicitors but were they happy? I don't think so as all they seemed to do was complain about hours and salary etc etc.

Since I did the QFA I am now my own boss and am really happy with what I do. People are genuinely thankful for the advice you give them (and the hours aren't bad either!)

My advice, try and decide which career path would suit you best and go for that but don't be afraid to change your mind. I presume you're quite young so you have ample opportunity to find whatever job you enjoy doing. Forget about career progression for now, no point being ahead of the posse in a job you hate getting up in the morning for.
 
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Thank you both for your replies, you both have been really helpful.
I am meeting my college's careers adviser next week.

NorfBank: What does your job involve? Are the hours long? Does it pay well? Thank you for your advise.
 
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