The Two Legs of Finance: Important Designations

The Two Legs of Finance: Important Designations

The Two Legs of Finance: Important Designations.

Qualifications are a requirement in most chosen career paths. Doctors require a certain amount of schooling, and so do people wishing to start a career in finance. This article aims to uncover the two fundamental designations in the financial industry. The Canadian Securities Course (CSC) involves the investment side, and the Life-Licensing Qualification Program (LLQP) takes on the insurance side. My aim is help the reader become familiarized with both designations. Not only will this help those wishing to pursue a career in the industry, but also help regular readers understand the qualifications of financial experts they deal with.

The Canadian Securities Course is the prerequisite for all further designations in investment management. It's the key designation that opens doors in the investment industry. When doing this designation, information covered in the course gives you a sense of the industry. Some of the material covered would be the micro and macroeconomic factors, institutions, different types of securities, ethical codes, investment techniques, taxation, etc. The CSC is supposed to help any investment related careers; you would be licensed to help make investment decisions for clients. The CSC becomes a gate way of other designations such as Personal Financial Planning (PFP) or Investment Management Techniques (IMT).

Life-licensing will teach you the fundamentals of insurance. You will have fiduciary duty to give advice on insurance products. In fact, people will trust you and hold you accountable under the court of law with this designation. With this license the agent is representing the company; this holds the company accountable as well as the agent. The LLQP will ensure a licensing partnership between the agent and the financial institution. Some of the subjects covered would be on premium calculations, different types of insurance products, underwriting, segregated funds, etc. Examples of other designations that become available through the LLQP are Certified Financial Planning (CFP), or even Certified Life Underwriter (CLU).

Written by Basim Mirza

Sources Used

https://www.csi.ca/

http://www.advocis.ca/content/education/LLQP.html

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