Things to consider if you want to work as financial adviser in Spain
In order to ensure that you are choosing the right company to work for as a financial adviser in Spain, make sure that you follow the following instructions.
In order to ensure that you are choosing the right company to work for as a financial adviser in Spain, make sure that you follow the following instructions.
1. Ask questions about their legal status.
2. Ask to see the authorisation documents for the company.
3. If they are an SL company ask to see the company registration documents to see who the directors are.
4. If they are registered under the umbrella of a network, ask the network to confirm everything is in order.
5. Ensure you have a good cash reserve in place, as it can take you 3 – 6 months to earn any money.
6. Find out if they can allocate you an existing bank of clients, otherwise the job is very difficult.
A proper company will take up proper references, and do proper checks on you and will have regulatory application forms to register you with a network or governing body, such as the FSA if it is “passported” from the UK. A contract , in Spain, is only binding if it is written in Spanish and witnessed at the notary.
These recommendations are based on my own personal experiences of joining companies, in Spain, who have since proved to be “not all that they seem”. By taking the correct precautions , you will not end up wasting all the effort you put into obtaining your professional qualifications, particularly the Financial Planning Certificate, which involves a great amount of study and time.
In Spain, most financial advice companies pay you on a commission only basis. The percentage varies asto what else they may provide, such as office equipment, an office etc. If you work from home, then you usually get 50% of the 5% (of the sum invested for the client).
This is not a guaranteed way to get you success, as other factors can affect the business , particularly the economic considerations. The last two years have been the worst on record, and many financial advice companies have suffered a great reduction in revenues. However, it has given you a guide as to what you should think about, before taking the plunge into financial services in Spain.
Dave Bates Information Pages
Article Source: http://EzineArticles.com/?expert=Dave_Bates
