Is this a very tough course?
I have no background in Finance nor Accounting, I am a science student (BioChemistry). . I am currently not even working in a Finance related position. But I am thinking of broadening my career option.
I might just enroll into level 1 for a preview, I am not that keen to be a Chartered Holder, my main purpose is to obtain some formal education/training to help me be a better investor. Taking Level 1 only seem like a good idea.
Some useful advice on the this industry:
As it is, I am not optimistic that any research house will hire you. You should at least pass CFA Level I before contemplating applying for a job as an analyst. Even then, the competition may be keen. Back in the 1996, there were only 23 CFA in Malaysia. I was the only one with CFA Level III in my firm. To day, there must be thousands of CFA in Malaysia. The analyst route to investment industry is a very tough one.
Alternatively, you may want to consider working through the mutual funds industry as investment advisor. You can take a CFP course. It's a lot easier. Or you may want to start off as remisier, at the same time taking CFA courses and work your way to become a Institutional Dealer with a brokerage firm.
Alright, if you ever wonder the difference between the two:
CFA = Solely on Investment Analyst . You will be a maestro in evaluating investment vehicle and provide advices to HNWI or Corporate Investors.
CFP = Solely on Financial Planning. You will be a maestro in drawing financial plan for individuals. I think there may be some small overlap in some modules especially the investment part with CFA. CFP will study M'sian Tax, Insurance & Risk Management, Investment & Portfolio Management, Estate Planning, Will Writing, Trust and Retirement Planning.
While some said the CFA Level 1 is of not much use, another suggestion pop up:
If you want to get educated on investment in an in-depth level, I highly recommend that you get a copy of "The Intelligent Investor" and "Security Analysis". There are considered as the 'stock market bible'. They teaches you Fundamental Analysis.
Yes, CFP is another course that I have my eye on. I will probably do the CFP in the very near future. Hopefully!=)
I love finance, and I think this is the best strategy for me to enter into the world on finance from a non-finance background.
Probably a recommended link here : http://www.kmdc.com.my/html/programmes/prog_04cfp.html
